CVS, Cigna CEOs Pan Blue Shield of California PBM Deals
The CEOs of CVS Health Corp. and The Cigna Group on Sept. 12 downplayed the potential for PBM market disruption that could result from Blue Shield of California’s recent deal to unbundle its pharmacy benefit contracts. But both executives hedged by emphasizing their PBMs’ flexibility, and Cigna’s boss suggested that its Express Scripts subsidiary has an a la carte PBM menu.
CVS and Cigna leaders also said, during presentations at the Morgan Stanley Health Care Conference, that they are confident that their Medicare Advantage Star Ratings will improve, and they promised further MA growth. Both firms assured investors that their recent, multibillion-dollar provider transactions will lead to future growth. And both firms, which own two of the “Big Three” PBMs, said that biosimilars will be a boon to payers — with CVS promising as much as 80% savings on its forthcoming Humira (adalimumab) biosimilar line.
Meet Our Reporters
-
Lauren Flynn Kelly Executive Editor, AIS Health, and Managing Editor, Radar on Medicare Advantage
View Lauren Flynn Kelly's Profile -
Angela Maas Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access
View Angela Maas's Profile -
Leslie Small Managing Editor, Health Plan Weekly and Radar on Drug Benefits
View Leslie Small's Profile -
Peter Johnson Reporter, Health Plan Weekly and Radar on Drug Benefits
View Peter Johnson's Profile -
Tim Casey Reporter, Health Plan Weekly and Radar on Drug Benefits
View Tim Casey's Profile -
Carina Belles Reporter, Radar on Medicare Advantage and Spotlight on Market Access
View Carina Belles's Profile -
Jinghong Chen Reporter, Health Plan Weekly and Radar on Drug Benefits
View Jinghong Chen's Profile