PBMs Are Major Bright Spot in 1Q Earnings for Some Firms

For two of the largest diversified health care companies, their PBM divisions were a much-touted highlight in the firms’ first-quarter 2021 earnings reports and conference calls.

Cigna Corp. Chief Financial Officer Brian Evanko, during a May 7 conference call with analysts and investors, said the firm’s “favorable first-quarter earnings were primarily driven by strong Evernorth performance, favorable net investment income, and favorable prior year medical cost development.” Evernorth is Cigna’s newly renamed health services division, housing its Express Scripts PBM and other assets.

© 2024 MMIT
Leslie Small

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

businessman-viewing-news-update-journalism-headline-on-a-laptop
March 28

News Briefs: Amazon Pharmacy Teams Up With Lilly

READ MORE
bills
March 28

Rise of GLP-1s Puts Growing Pressure on Medicaid

READ MORE
pills-and-bills
March 28

Pharma Takes Aim at New Legal Foe: State Drug Affordability Boards

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today