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Cigna Looking at Change to Pharmacy-benefits Division (CI, WLP, ESRX, AET, CVS)
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Now that it’s $3.8 billion acquisition of Healthspring Inc. is completed, insurer Cigna Inc. (NYSE: CI) is looking at either a sale of its pharmacy-benefits division or the outsourcing of the division’s function. Wellpoint Inc. (NYSE: WLP) sold its pharmacy-benefits group to Express Scripts Inc. (NASDAQ: ESRX) last year for $4.7 billion, and Aetna Inc. (NYSE: AET) outsourced its $9.5 billion benefits business to CVS Caremark Corp. (NYSE: CVS) last year as well.
According to a report at Bloomberg News, Cigna could realize $1.5 billion from a sale of its benefits division. The company added 650,000 members to the 6.91 million existing members of its benefits group with the acquisition of Healthspring.
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