Sun, May 22, 9:50 AM
- Quarrels have broken out behind the scenes of Anthem's (NYSE:ANTM) $48B proposed acquisition of Cigna (NYSE:CI) as the health insurers seek regulatory approval for their landmark deal, according to The Wall Street Journal.
- People on both sides say the squabbles could delay or derail antitrust approvals, which are typically harder to obtain if both parties aren't in sync.
- If completed, the deal would create the largest U.S. health insurer by members, with more than 54M, and $117B in annual revenue.
- Previously: Cigna warns Anthem deal may not close this year (May. 08 2016)
Wed, May 11, 9:12 AM
- Health insurer Cigna (NYSE:CI) enters into new value-based agreements with Amgen (NASDAQ:AMGN) and Sanofi (NYSE:SNY)/Regeneron Pharmaceuticals (NASDAQ:REGN) covering their cholesterol-lowering medications, Repatha (evolocumab) and Praluent (alirocumab), respectively. The contracts modify the cost of the pricey meds based on how well patients respond to the drugs. If they meet or exceed the expected reduction in LDL-C (the "bad" cholesterol) the original negotiated price remains as is. If they fall short of the expected LDL-C reduction, the discount increases.
- Repatha lists for $14,000 per year while Praluent lists for $14,600. Cigna will also determine whether there are cardiovascular improvements related to treatment by analyzing medical and pharmacy claim data.
- Cigna is the first payer to close this type of agreement with the drug makers covering their PCSK9 inhibitors. It also has value-based contracts in place covering drugs for heart failure, diabetes, multiple sclerosis and hepatitis C.
Sun, May 8, 8:37 AM
- Due to the complexity of the regulatory process, Cigna (NYSE:CI) is cautioning that its acquisition by health-insurance rival Anthem (NYSE:ANTM) may not be approved this year, but could rather close in 2017.
- The two agreed to a $48B cash-and-stock merger deal last July. The transaction, along with Aetna's pending acquisition of Humana, would reduce the number of big U.S. health insurers from five to three.
Fri, May 6, 8:47 AM
- CIGNA (CI) Q1 results: Revenues: $9,916M (+5.6%); Premiums and Fees: $7,056M (+4.9%); Adjusted Income from Operations: $601M (+17.2%); Net Income: $519M (-2.6%); EPS: $2.00 (-2.0%); Non-GAAP EPS: $2.32 (+18.4%); Quick Assets: $2B (+42.9%).
- 2016 Guidance: Adjusted income from operations per share: $8.95 - 9.35.
Fri, May 6, 6:01 AM
Thu, May 5, 5:30 PM
Wed, Feb. 24, 4:48 PM
Thu, Feb. 18, 10:35 AM
- Behemoth pharmacy benefits manager Express Scripts (ESRX -0.7%) has apparently made scant progress in its contentious negotiations with its largest customer, Anthem (ANTM +1.1%), over drug discounts. In its earnings call yesterday, CEO George Paz said he "has no clue" where the $3B that Anthem says it is owed in additional prescription drug savings under their 10-year contract comes from.
- The risk that ESRX may lose its largest client when their contract ends after 2019 has weighed on its stock price. Shares are down over 20% this year. Even if they resolve their differences, though, Anthem may still bid adieu if its merger with Cigna (CI +0.4%) goes through (likely) and it decides to manage prescriptions internally, a move that UnitedHealth (UNH +0.7%) has already done.
- Anthem represents 14% on ESRX's revenue but much less of its profit. It processed almost 1.3B claims last year and will most certainly process over 1B claims annually beyond 2019 exclusive of Anthem.
- Previously: Anthem to acquire Cigna for $54.2B (July 24, 2015)
Wed, Feb. 10, 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.
Thu, Feb. 4, 10:08 AM
- CIGNA (CI +0.4%) Q4 results: Revenues: $9,528M (+6.7%); Premiums: $7,461M (+8.0%); Fees: $1,056M (+3.4%); Adjusted Income from Operation: $486M (+2.3%); Net Income: $426M (-8.8%); EPS: $1.64 (-7.3%); Non-GAAP EPS: $1.87 (+3.9%); Quick Assets: $400M.
- FY2015 results: Revenues: $37,876M (+8.5%); Premiums: $29,642M (+8.9%); Fees: $4,217M (+8.7%); Adjusted Income from Operation: $2,256M (+6.7%); Net Income: $2,094M (-0.4%); EPS: $8.04 (+2.7%); Non-GAAP EPS: $8.66 (+10.0%); Quick Assets: $1.4B (+40.0%).
- 2016 Guidance: Adjusted operating income per share: $8.85 - 9.25.
Thu, Feb. 4, 6:04 AM
Wed, Feb. 3, 5:30 PM
- ABC, ABG, ABMD, ARW, AZN, BCE, BCO, BR, BSX, BZH, CARB, CFX, CHTR, CI, CLX, CMI, CMS, COP, COTY, CRS, CS, CSL, CUB, DFT, DLPH, DNKN, EQM, EQT, GLPI, GRUB, HIMX, ICE, IT, ITG, KELYA, LQDT, LVLT, MD, MHFI, MHO, MMC, MMP, MMS, MSCI, MSG, NAO, NYT, ODFL, OXY, PBH, PM, PPL, PRLB, PTEN, RDS.A, RFP, RL, RSTI, SBH, SNA, SPH, SQNS, STRA, TDC, TDY, TE, TPX, UTEK, VLP, VMC, WEC, XYL
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. 3, 2015, 11:15 AM| Dec. 3, 2015, 11:15 AM
Dec. 3, 2015, 3:13 AM
- After settling multiple class-action lawsuits earlier this week, Anthem (NYSE:ANTM) and Cigna (NYSE:CI) could take a step toward consummating their merger today as shareholders of both companies vote on whether to proceed with the $54B deal.
- But even if shareholders give the go-ahead, the merger must survive intense scrutiny among federal and state regulators.
- The tie-up is one of two mergers being proposed that would combine the five largest U.S. insurers into three companies; the other deal is one announced between Aetna and Humana.
- Previously: Anthem to acquire Cigna for $54.2B (Jul. 24 2015)
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%)
Cigna Corp. provides medical, dental, disability, life and accident insurance and related products and services to businesses, governmental and non-governmental organizations and individuals. The company operates through following segments: Global Health Care, Group Disability and Life, Global... More
Industry: Health Care Plans
Country: United States
Other News & PR