AXIOS October 4, 2024
Caitlin Owens

A CVS breakup — which reportedly is on the table — would be pretty hard to actually do and could come with a lot of downsides, and most people seem skeptical it’ll happen.

  • But the fact that it’s being discussed at all is notable in an era where vertical integration is all the rage.

Why it matters: Though CVS’s woes may seem very specific to the company and its unique compilation of business lines, they overlap with some industrywide risks and suggest that not all consolidation strategies are created equal.

The big picture: CVS is now a chain of retail pharmacy stores, a major health insurer, the country’s largest pharmacy benefit manager and the employer of thousands of...

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