CVS shares rise on report of retail pharmacy spin-off
The gist
CVS Health stock closed up about 3.3% after reports it may spin off its retail pharmacy arm.
A split would reverse the 2018 Aetna deal and separate CVS's weaker business.
How it unfolded
- 2018CVS completed its $78 billion acquisition of Aetna, creating the vertical integration a spin-off would reverse.
- Oct 2024David Joyner took the helm as chief executive after activist investor Glenview Capital pushed for changes that led to the departure of former CEO Karen Lynch.
- Dec 2024CVS shares sank to a 10-year low.