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Yesterday, 3:42 PM
- Novartis (NVS +0.5%) inks a pricing deal with Cigna (CI +0.9%) and Aetna (AET +2.5%) for its heart drug Entresto (sacubitril/valsartan) that is based on its ability to reduce the proportion of patients who are admitted to the hospital for heart failure. The performance-based scheme applies to the insurers' commercial business, not Medicare or Medicaid.
- Entresto costs $12.50 per day or $4,560 per year, not the most expensive new drug but higher than expected. The deal specifies a base price and modest rebate that will fluctuate based on the number of hospitalizations and savings to the plan.
- Analysts expect more performance-based drug pricing arrangements going forward since it holds the manufacturer accountable for the product's claimed efficacy. Insurers like the deals because they will save money if the drug's benefits are realized and will pay a premium only in such instances, thereby derisking including the drug in their formularies.
Mon, Feb. 1, 6:29 AM
- Aetna (AET +3.1%) Q4 results: Revenues: $15,048.5M (+1.9%); Benefits and Expenses: $11,090.2M (+0.5%); Operating Expense: $3,200.5M (+4.2%); Net Income: $320.8M (+38.3%); EPS: $0.91 (+40.0%); Non-GAAP EPS: $1.37 (+12.1%).
- FY2015 results: Revenues: $60,336.5M (+4.0%); Benefits and Expenses: $43,832.6M (+2.1%); Operating Expenses: $11,649.3M (+7.5%); Net Income: $2,390.2M (+17.1%); EPS: $6.78 (+19.4%); Non-GAAP EPS: $7.71 (+15.1%).
- 2016 Guidance: Operating EPS: Atleast $7.75.
- SA Contributor Dana Blankenhorn adds additional color.
Mon, Feb. 1, 6:03 AM
Sun, Jan. 31, 5:30 PM
Wed, Jan. 13, 3:23 AM
- Although still under review by the Justice Department, Aetna (NYSE:AET) Chief Executive Mark Bertolini expects the company's $37B acquisition of rival Humana (NYSE:HUM) to close this year.
- "So far, we have nothing to believe it will be any slower than that, or any faster," Bertolini said in an interview at the JP Morgan Healthcare conference.
- Anthem (NYSE:ANTM) CEO Joseph Swedish also anticipates the firm's $47B merger with Cigna (NYSE:CI) to close in 2016 - moves that will further consolidate the U.S. health insurance industry.
Dec. 4, 2015, 3:45 PM
Nov. 20, 2015, 7:11 PM
- Shares of health insurance companies rebounded today after several major insurers issued reassuring statements that their profits were on track, a day after UnitedHealth (NYSE:UNH) cut its 2015 forecast, reported deep losses from its Affordable Care Act exchange business and said it will decide next year whether it wants to continue in that market.
- Aetna (NYSE:AET) and Anthem (NYSE:ANTM) backed their profit outlooks for the year and said their individual commercial businesses were performing within expectations.
- Leerink analyst Ana Gupte reiterated Outperform ratings on AET and ANTM, saying both companies' reaffirmation of 2015 EPS guidance - $7.45-$7.55 for AET, and $10.10-$10.20 for ANTM - met her expectations.
- Molina Healthcare (NYSE:MOH) said it is seeing profits on its exchange business, and CEO Mario Molina said the company was not seeing the issues UNH had raised.
- Centene (NYSE:CNC) also backed its outlook and said its marketplace business is performing as expected.
Nov. 19, 2015, 3:01 PM
- Medical insurers and managed care providers are taking it on the chin today. UnitedHealth Group (UNH -5.5%) brought the rain with its softer earnings guidance as a result of weaker demand for individual insurance purchased through exchanges. It seems that the premium hikes, which the Affordable Care Act was supposed to curtail, are having their predictable effect.
- Previously: UnitedHealth Group down 6% on lowered guidance (Nov. 19)
- Related tickers: (AET -7.3%)(CI -5.7%)(HUM -4.2%)(CNC -9%)(ANTM -6.8%)(WCG -4.6%)(MGLN -4.4%)(HNT -5.2%)
Oct. 29, 2015, 12:03 PM
- Aetna (AET +4%) Q3 results: Revenues: $14,953M (+1.5%); Healthcare Cost: $10,409.5M (+0.5%); Current and Future Benefits: $528.8M (+1.4%); SG&A: $2,830.3M (+4.3%); Net Income: $560.1M (-5.8%); EPS: $1.59 (-4.8%); Quick Assets: $1M (0.0%).
- No guidance given.
Oct. 29, 2015, 6:04 AM
- Aetna (NYSE:AET): Q3 EPS of $1.90 beats by $0.13.
- Revenue of $15B (+2.0% Y/Y) misses by $220M.
Oct. 28, 2015, 5:30 PM
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Oct. 19, 2015, 4:52 PM
Oct. 19, 2015, 3:05 AM
- Shareholders will get their say this week on two proposed health insurer mergers: Aetna's (NYSE:AET) $37B offer for Humana (NYSE:HUM), and Centene's (NYSE:CNC) $6.3B bid for Health Net (NYSE:HNT).
- Although consumer advocates have raised concerns about whether the combination will lead to less competition and higher prices, proxy advisors ISS and Glass Lewis have given both deals a thumbs-up.
- Aetna and Humana investors are scheduled to vote this afternoon and Centene and Health Net shareholders will cast their ballots on Friday.
Oct. 13, 2015, 7:26 AM
- Humana (NYSE:HUM) says its non-GAAP EPS guidance for Q3 and 2015 will remain at $2.15 and $7.75, respectively, despite incorporating adjustments for expenses related to the Aetna (NYSE:AET) transaction.
- Its full-year guidance excludes a ~$267M pretax gain ($1.53 per share) from its sale of Concentra that was recognized in H1. Non-GAAP EPS for both Q4 and 2015 exclude transaction-related costs of ~$17M pretax ($0.10 per share) and $11M pretax ($0.07 per share), respectively.
- The company will report Q3 results later this month.
Sep. 25, 2015, 2:12 PM
- Aetna (NYSE:AET) declares $0.25/share quarterly dividend, in line with previous.
- Forward yield 0.88%
- Payable Oct. 30; for shareholders of record Oct. 15; ex-div Oct. 13.
Sep. 2, 2015, 1:29 PM
- Forbes Contributor Bruce Japsen reports that the American Hospital Association (AHA) is urging the U.S. Justice Department to closely scrutinize Aetna's (AET +1.1%) proposed $37B takeout of Humana (HUM +0.4%). The hospital lobby says the deal would give Aetna too much power to raise prices of Medicare Advantage plans, the privately run portion of the Medicare program that has seen spectacular growth over the past few years.
- Humana is the second largest insurer of Medicare Advantage while Aetna is the fourth largest. Almost one third of Medicare beneficiaries (~17M Americans) participate in Medicare Advantage.
- AHA SVP and General Counsel Melinda Hatton says, "The deal will not just eliminate current competition between Humana and Aetna, it will eliminate future competition between them. It may create monopsony and enable the merged firm to exploit small, relatively powerless providers. Second, the merger may create downstream market power which could offset the desirable effects of countervailing power and premiums to consumers. Finally, the merger might create countervailing power but the merged firm might exercise it in anti-competitive ways, harming consumers or small providers."
- It's doubtful, though, that the AHA's posturing will scupper the deal.
Aetna Inc. is a health care benefit company, which offers traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans.
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