CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health is proactively preparing for Hurricane Nicole's impact on Florida, prioritizing health and safety for colleagues, customers, and members. Key measures include contacting patients for prescription refills and ensuring pharmacies have emergency supplies. CVS Caremark is offering emergency medication refills, while Aetna's clinical teams are enhancing member support. CVS is also advising patients on preparing for the storm, including following evacuation orders and securing medications. The company is committed to community support and disaster relief communication.

CVS Health (NYSE: CVS) announced that CFO Shawn Guertin will participate in a fireside chat at the 31^st Annual Credit Suisse Healthcare Conference on November 9, 2022, at 8:35 am PT. The event will be accessible via an audio webcast on the CVS Health Investor Relations site, where it will be archived for one year.

CVS Health reports Q3 2022 results, revealing total revenues of $81.2 billion, a 10% increase year-over-year. The company faced a GAAP loss of $(2.60) per share due to $5.2 billion in opioid litigation charges. Adjusted EPS stood at $2.09, with revised full-year GAAP EPS guidance now at $3.12 to $3.22. Increased revenues in Health Care Benefits and Pharmacy Services segments offset losses in Retail/LTC. The company also announced plans to acquire Signify Health for approximately $8 billion.

CVS Health (NYSE: CVS) has reached an agreement in principle to resolve opioid-related lawsuits and claims with states and tribes across the U.S. The company plans to pay approximately $5 billion over the next decade, with $4.9 billion allocated to states and local governments, and $130 million to tribes. This settlement will fully resolve claims dating back over ten years and is not an admission of liability. CVS continues to defend against unresolved litigation while reinforcing its commitment to combat opioid misuse through various community initiatives and investments.

CVS Health has published a report indicating that 61% of adults desire a broader range of health services from local pharmacies. Conducted in collaboration with Morning Consult, the survey reflects increased consumer trust in pharmacists, with 74% supporting their role in healthcare when primary care is unavailable. The report emphasizes the importance of empowering CVS's 30,000 pharmacists to enhance patient care, particularly in light of their critical involvement during the COVID-19 pandemic. The findings underscore a significant opportunity for CVS to innovate in service delivery and patient engagement.

CVS Health is launching the Aetna Connected Plan in the metro Atlanta area, combining Aetna Whole Health and CVS services to provide a more affordable healthcare option. The plan aims to enhance access to care through CVS Pharmacy and MinuteClinic locations, emphasizing convenience for mid-sized businesses, which could see up to 15% savings. This network includes various in-network providers, with features like $0 copays for certain services, 90-day prescription refills, and home delivery options. Available in select counties, this innovative model focuses on improving healthcare outcomes for members.

CVS Health will host a conference call with analysts on November 2, 2022, at 8:00 a.m. ET to discuss its third quarter 2022 financial results. The call will be accessible via an audio webcast on the company's Investor Relations website, where it will remain archived for one year. CVS Health is recognized as a leading health solutions provider, committed to enhancing community health through a vast network of services, including over 300,000 employees and 40,000 healthcare professionals.

CVS Health® announced the appointment of Dr. Amar Desai as President of the newly formed Health Care Delivery organization, effective October 17. Dr. Desai, formerly CEO of Optum Pacific West, will direct CVS Health's clinical delivery strategy, focusing on retail health, chronic disease management, and behavioral health. This strategic move aims to enhance the company's health services while leveraging its extensive portfolio. CEO Karen S. Lynch emphasized Dr. Desai's clinical expertise as vital for delivering high-quality care to patients.

Aetna, a CVS Health company, has unveiled its 2023 Medicare plans focusing on affordability and enhanced benefits for members. Key highlights include Medicare Advantage plans with $0 premiums available to 84% of beneficiaries, new Dual Eligible Special Needs Plans, and expanded options for veterans. Aetna will also implement significant cost reductions in prescription drug coverage, including $0 deductibles and copays on many medications. The updates aim to relieve financial burdens for older adults while increasing access to essential health services.