CVS Offers Glimpse Of Its Vision For The Future As Merger With Aetna Nears Completion
The retail pharmacy chain expects the deal to close before Thanksgiving. Also in the news, Eli Lilly reports strong third-quarter profits and Sanofi and Regeneron’s eczema cream receives positive feedback from the Food and Drug Administration.
The Wall Street Journal:
CVS Lays Out Vision For Future As Aetna Merger Looms
CVS Health Corp. executives gave investors a window into its strategy after closing the acquisition of health insurer Aetna Inc., with an eye on becoming a one-stop shop for patients. ... CVS and Aetna operate in largely different businesses, with their most direct overlap coming in selling plans under the Medicare prescription-drug program, known as Part D. (Al-Muslim, 11/6)
CNBC:
CVS To Test Stores With More Health Services After Aetna Deal Closes
Consumers will soon start to see CVS Health's vision for the future of health care. CVS expects its roughly $69 billion acquisitionof health insurer Aetna to close before Thanksgiving, the company said Tuesday when announcing third-quarter financial results. The combined company has pledged to improve health services and outcomes and lower costs. CVS plans to open its first concept stores early next year, CEO Larry Merlo told Wall Street analysts Tuesday. (LaVito, 11/6)
The Wall Street Journal:
Eli Lilly Raises 2018 Guidance After Strong 3Q
Eli Lilly & Co. on Tuesday raised its adjusted earnings per share guidance as it reported a more than doubled third-quarter profit. The Indianapolis, Ind.-based drugmaker earned a quarterly profit of $1.15 billion, or $1.12 a share, compared with $555.6 million, or 53 cents, for the same period last year. Excluding items, Eli Lilly reported an adjusted profit of $1.39 a share for the quarter, compared with $1.05 last year and analysts forecasts of $1.15. (Walker, 11/6)
Reuters:
Sanofi And Regeneron's Dupixent Gets More Positive Feedback From U.S. FDA
The U.S. Food & Drug Administration (FDA) regulator has given more positive feedback on the Dupixent eczema treatment being developed by drugmakers Sanofi and Regeneron, the companies said on Tuesday. Dupixent was launched in the United States in April 2017 for the treatment of moderate-to-severe eczema in adults, and the product is seen as a key sales driver for both companies. (11/6)