Forbes August 1, 2024
The Cigna Group reported $1.5 billion in second quarter profits as the diversified provider of medical insurance, pharmacy benefits and health services reaped new clients.
Cigna, which operates the large manager of pharmacy benefits, Express Scripts, and houses it under the company’s Evernorth Health Services business, said total revenues jumped 25% to $60.5 billion. The sales growth was “primarily driven by significant growth in Evernorth Health Services, reflecting large client wins,” the company said in its earnings report released Thursday morning.
In particular, the company’s total pharmacy customers increased 24% to 122.5 million compared to 98.6 million in the year-ago period. Adjusted pharmacy benefit services revenue increased 41% to $26.6 billion in the second quarter compared to the year-ago period...
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