Yesterday, 11:13 AM
- CIGNA (CI -4.7%) Q2 results: Total Revenues: $9,960M (+4.9%); Adjusted Operating Income: $515M (-22.4%); Net Income: $510M (-13.3%); EPS: $1.97 (-12.8%); Non-GAAP EPS: $1.98 (-22.4%); Quick Assets: $2B.
- 2016 Guidance: Adjusted income from operations: $2.02B - 2.11B; Adjusted income from operations per share: $7.75 - 8.10.
Yesterday, 9:22 AM
Yesterday, 8:56 AM
- Cigna (NYSE:CI) -8% premarket after reporting lower than expected Q2 earnings and cutting its full-year earnings outlook, results that may take on extra weight amid questions about the prospects of its acquisition by Anthem.
- CI says its disability, life and accident insurance business swung to a $12M operating loss in Q2 from a $106M a year earlier, following modifications to its claims management process implemented in Q1.
- CI says it spent $0.788 of every premium dollar on medical claims in its commercial business, up from $0.775 per dollar a year ago; in the government business, the medical loss ratio was $0.864 per dollar vs. $0.844 a year ago.
- CI says medical membership held steady at 15.1M.
- For FY 2016, CI says it now sees EPS of $7.75-$8.10 vs. $9.28 analyst consensus estimate and prior guidance of $8.95-$9.35; it forecasts full-year revenues to grow by mid single digits vs. consensus +5.7% Y/Y and $39.8B.
Yesterday, 6:01 AM
Thu, Jul. 28, 5:30 PM
Thu, Jul. 21, 10:38 AM
- It's official. The U.S. Department of Justice (DOJ) has filed an antitrust suit in U.S. District Court in Washington, DC attempting to block the Anthem (ANTM +1.8%) and Cigna (CI +0.8%) merger and the Aetna (AET +0.9%) and Humana (HUM -0.4%) merger. In the complaint, the DOJ said the deals would be anti-competitive and would not be in the best interests of consumers.
- Unsurprisingly, the four companies take the opposite view.
Tue, Jul. 19, 10:37 AM
- According to Bloomberg, the U.S. is preparing litigation to block the Anthem (ANTM -2.2%)/Cigna (CI -2%) and Aetna (AET -3.5%)/Humana (HUM -4.2%) mergers over antitrust concerns.
- Previously: Humana, Aetna slide on chatter over Justice Dept. meeting (July 7)
- Previously: Anthem-Cigna deal in jeopardy? (June 30)
- Update: The Department of Justice filed an antitrust lawsuit on July 21 opposing both mergers.
Fri, Jul. 15, 10:10 AM
- Wells Fargo ticks off 20 S&P 500 stocks with the most upside potential vs. consensus, and the 20 with the most downside risk vs. consensus.
- The list is compiled by comparing the midpoint of Wells Fargo Securities valuation ranges to consensus fair value estimates, volatility adjusting the percentage difference, and ranking the resulting score.
- Upside: AEE, BEN, CCL, DVA, EIX, ES, EXC, FTR, HUM, INTC, JNJ, LNT, PEG, PNW, SCG, T, WEC, WU, XEL, XOM.
- Downside: ANTM, C, CI, COF, EQT, FOXA, FSLR, GS, KIM, LH, MON, MSI, MYL, NVDA, NWSA, SLG, TIF, TSO, UA, WLTW.
Thu, Jul. 7, 12:55 PM
- Humana (NYSE:HUM) has tumbled, now down 7.8% in the past few minutes, on chatter that it and Aetna are to meet with the Justice Dept. to discuss "significant" concerns.
- Other insurers took a dip on the news. Aetna (NYSE:AET), set for a $37B takeover of Humana, has slid from positive ground to a 1.5% loss on the day. UnitedHealth (NYSE:UNH) is off 0.7%. Cigna (NYSE:CI) has fallen into the red, -0.4%.
- Reports had Aetna set to sell several billion dollars worth of assets to ease regulatory concerns over the deal.
Thu, Jun. 30, 3:50 AM
- The Justice Department has told Anthem (NYSE:ANTM) its planned takeover of Cigna (NYSE:CI) threatens competition and probably can't be fixed by selling parts of their businesses, Bloomberg reports.
- The companies recently met with Bill Baer, the department's No. 3 official, in a bid to get the $48B deal approved. A decision on the combination is expected by mid-July.
Tue, Jun. 28, 8:38 AM
- Anthem (NYSE:ANTM) appears ready to walk away from its proposed $48B acquisition of healthcare insurance rival Cigna (NYSE:CI) because of regulatory headaches, NY Post reports.
- ANTM CFO John Gallina told a group of analysts last week that the company was working on “remediation plans” that include buying assets from Aetna (NYSE:AET), according to the report; it is assumed that ANTM would not be considering buying assets if it intended to move forward with plans to buy CI.
- The deal has a $1.85B breakup fee, but the companies reportedly have begun talks about renegotiating the amount.
Mon, Jun. 20, 5:32 AM
- U.S. antitrust regulators are concerned about Anthem's (NYSE:ANTM) proposed acquisition of Cigna (NYSE:CI) and aren't sure the health insurers can offer concessions that would fully preserve competition in the industry, WSJ reports.
- Company representatives met June 10 in Washington with Justice Department staffers and representatives of more than a dozen state attorneys general and have more meetings scheduled this week with top DOJ officials.
Thu, Jun. 16, 5:38 PM
- California's insurance commissioner is urging the U.S. Department of Justice to block Anthem's (NYSE:ANTM) takeover of Cigna (NYSE:CI), saying he is concerned it will raise premiums in the state.
- ANTM and CI would control 61% of California's administrative services market alone, the commissioner says.
- ANTM says it is "confident that the highly complementary nature and limited overlap of our organizations that will benefit the complex and competitive health insurance markets will be reviewed on the facts by the DoJ and appropriate state authorities."
Thu, Jun. 9, 10:38 AM
- Cigna (CI -0.9%) is now assembling assets, resources and talent from from Cigna-HealthSpring and QualCare Alliance Networks (QANI) to create a new service company CareAllies that will deliver the systems, capabilities and management services that providers need to be successful under a variety of value-based and risk-sharing models across the value-based reimbursement spectrum. CareAllies will offer services to help ease providers’ administrative burden across payers and can even help providers launch and manage their own health plans.
- CareAllies' goal is better health care quality and affordability for patients and it will focus on advisory and management services, technology, and analytics which are all fundamental to transforming physician practices and delivery systems.
- CareAllies will operate as a wholly-owned subsidiary of Cigna and Dr. Julian Harris will be its President.
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.
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
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