Advisory Board October 21, 2024
Recently, retail pharmacies like CVS and Walgreens have faced significant financial difficulties, leading them to lay off workers, reduce services, and halt previously announced expansion plans.
CVS discontinues infusion services as part of cost-cutting measures
Over the last few years, CVS has struggled with declining profit margins at its retail pharmacies, as well as rising costs of patient care through its insurance unit Aetna, which generates around a third of the company’s revenue. So far, CVS has cut its 2024 earnings forecast for three straight quarters.
Currently, the company is conducting a strategic review of options, including a potential breakup of its businesses, people familiar with the matter said. CVS has also met with...
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