Latest news with #Evernorth
Yahoo
5 days ago
- Business
- Yahoo
National pharmacy company sues Arkansas over law eliminating PBM pharmacy ownership
Video: Arkansas bill would prevent Pharmacy Benefit Managers from owning pharmacies LITTLE ROCK, Ark. – A lawsuit was filed in Little Rock federal court on Thursday to overturn an Arkansas law preventing pharmacy benefit managers from operating pharmacies in the state. The suit filed by the pharmacy benefit management firm Express Scripts by Evernorth claims that violates the Constitution and federal law. It requests that the court prevent Act 624 from going into effect. Arkansas Gov. Sarah Huckabee Sanders signs bill blocking PBM ownership of pharmacies into law St. Louis-based Express Scripts is the pharmacy benefit management arm of The Cigna Group, a multinational health care and insurance company. Pharmacy benefits managers act as intermediaries between pharmaceutical companies and insurance companies to set rates, including the compensation amounts paid to pharmacies. Act 624 prohibits pharmacy benefit managers (PBMs) from owning pharmacies in Arkansas. The lawsuit claims that Act 624 violates the Constitution's Commerce Clause and the Privileges & Immunities Clause. It also states the law violates the Constitution's Attainder Clause, which prevents laws from being passed that punish individuals or groups without a trial. The lawsuit continues to claim that it interferes with federal law since the act would prevent Express Scripts from honoring its TRICARE contract with the Department of Defense. TRICARE is the health plan, including pharmacy support, for active duty National Guard, reserve, and retired military members and their families. The suit has multiple plaintiffs under the Express Scripts umbrella and is filed against the state pharmacy board and its members. CVS shares statement after Arkansas bill restricting PBMs from owning pharmacies is signed into law Evernorth Health Services Vice President of Pharmacy Practice and pharmacist Susan Peppers said the suit was filed to ensure continued access to care. 'Our family of pharmacies—including Express Scripts Pharmacy, Accredo Specialty Pharmacy and Freedom Fertility Pharmacy—are proud to serve Arkansans, and this law will disrupt their access to the care we provide,' Peppers said. 'If this law takes effect in January, hundreds of thousands of Arkansans will be left scrambling to navigate the forced closure of pharmacies and finding new ways to get their medicines and critical clinical support.' Peppers continued that Evernorth was doing 'everything we can' to protect Arkansas patients. Arkansas Attorney General Griffin signs letter asking for federal law to prohibit Pharmacy Benefit Managers from owning pharmacies Attorney General Tim Griffin, whose office will defend against the case, stated that PBMs hinder access and quality. 'Pharmacy benefit managers wield outsized power to reap massive profits at the expense of consumers,' Griffin said. 'The rise of PBMs as middlemen in the prescription drug market has resulted in patients facing fewer choices, lower quality care, and higher prices.' Griffin added that PBMs 'leverage their affiliated pharmacies to manipulate prices, corrupt the market, and destroy competition. Through Act 624, Arkansas is standing up to PBMs on behalf of consumers, and I will vigorously defend our law.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-05-2025
- Business
- Yahoo
Cigna Announced a New Agreement for Copay Caps on Eli Lilly and Novo Nordisk Weight Loss Drugs
The Cigna Group (NYSE:CI)'s Evernorth division has announced a new deal with Novo Nordisk and Eli Lilly that will limit insured customers' monthly out-of-pocket expenses for weight-loss drugs Zepbound and Wegovy to $200. A healthcare team discussing strategies for patient advocacy programs. Beginning in the second half of 2025, the program targets businesses that do not already cover these drugs because of their high price tag. Harold Carter, senior vice president at Evernorth, stated the agreement guarantees uniform pricing for pharmacies and Evernorth's home delivery while streamlining pre-authorization. The GLP-1 drugs are currently only covered by half of The Cigna Group (NYSE:CI)'s clients. Customers who now provide coverage could save as much as 20%. The agreement comes after Lilly's Zepbound was essentially sidelined when CVS Caremark said in April that Wegovy was its preferred weight-loss medication. According to analysts, net discounts for employers on list prices range from 30% to 50%. Zepbound lists at $1,100 with a $725 net price; Wegovy lists at $1,350/month but averaged $616 net in March. When compared to cash expenditures made out of pocket, the new caps offer savings of over 50%. Evernorth's action is in advance of the Inflation Reduction Act's 2027 Medicare drug pricing reductions, which will benefit Novo's products. Eli Lilly states that it remains committed to expanding industry collaboration to improve access to Zepbound. While we acknowledge the potential of CI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CI and that has 100x upside potential, check out our report about this READ NEXT: and . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Why Hims & Hers Health (HIMS) Stock Is Falling Today
Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 6.3% in the afternoon session after Cigna Group's Evernorth division introduced a monthly $200 price cap for weight-loss medications such as Wegovy and Zepbound, a move that could significantly disrupt pricing in the weight loss drug market. For Hims & Hers, which offers both compounded Semaglutide and branded GLP-1 treatments, this introduces a direct competitive threat, particularly if Evernorth's pricing becomes a benchmark in the industry. The shares closed the day at $53.52, down 7.7% from previous close. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Hims & Hers Health? Access our full analysis report here, it's free. Hims & Hers Health's shares are extremely volatile and have had 94 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 16 days ago when the stock gained 20.2% on the news that the company reported strong first quarter 2025 results which significantly beat analysts' expectations on revenue, EPS, and EBITDA. Sales more than doubled from the previous year driven by higher monthly spending per subscriber and a broader product mix tailored to personalized health needs. While subscriber growth slowed to 38% year over year, average revenue per user climbed over 50%, indicating deeper wallet share from existing customers and more engagement with premium offerings. On the other hand, revenue guidance was softer than anticipated. Still, we think this was a decent quarter. Hims & Hers Health is up 112% since the beginning of the year, but at $53.35 per share, it is still trading 22.4% below its 52-week high of $68.74 from February 2025. Investors who bought $1,000 worth of Hims & Hers Health's shares 5 years ago would now be looking at an investment worth $5,340. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
Yahoo
23-05-2025
- Business
- Yahoo
Cigna Announced a New Agreement for Copay Caps on Eli Lilly and Novo Nordisk Weight Loss Drugs
The Cigna Group (NYSE:CI)'s Evernorth division has announced a new deal with Novo Nordisk and Eli Lilly that will limit insured customers' monthly out-of-pocket expenses for weight-loss drugs Zepbound and Wegovy to $200. A healthcare team discussing strategies for patient advocacy programs. Beginning in the second half of 2025, the program targets businesses that do not already cover these drugs because of their high price tag. Harold Carter, senior vice president at Evernorth, stated the agreement guarantees uniform pricing for pharmacies and Evernorth's home delivery while streamlining pre-authorization. The GLP-1 drugs are currently only covered by half of The Cigna Group (NYSE:CI)'s clients. Customers who now provide coverage could save as much as 20%. The agreement comes after Lilly's Zepbound was essentially sidelined when CVS Caremark said in April that Wegovy was its preferred weight-loss medication. According to analysts, net discounts for employers on list prices range from 30% to 50%. Zepbound lists at $1,100 with a $725 net price; Wegovy lists at $1,350/month but averaged $616 net in March. When compared to cash expenditures made out of pocket, the new caps offer savings of over 50%. Evernorth's action is in advance of the Inflation Reduction Act's 2027 Medicare drug pricing reductions, which will benefit Novo's products. Eli Lilly states that it remains committed to expanding industry collaboration to improve access to Zepbound. While we acknowledge the potential of CI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CI and that has 100x upside potential, check out our report about this READ NEXT: and . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Evernorth Launches New Benefit Option That Drives Lower Net Cost for Weight Loss Medicines and Limits Patient Cost to No More Than $200 Per Month
Patients can save as much as $3600 per year versus direct-to-consumer manufacturer programs, and out of pocket cost applies to their annual deductible New offering helps employers meet growing demand for FDA-approved weight loss medications at a lower net cost per prescription while ensuring clinical safety for patients ST LOUIS, May 21, 2025 /PRNewswire/ -- Evernorth, the health services division of The Cigna Group (NYSE: CI) announced a first-of-its-kind pharmacy benefit offering that make weight loss medications WEGOVY® and ZEPBOUND® more available to patients. Through direct negotiations with the medications' manufacturers, Evernorth has ensured that patients' monthly cost will not exceed $200. "We are reimagining pharmacy benefits to reduce costs and better serve patients," said Adam Kautzner, Pharm D, President of Evernorth Care Management and Express Scripts. "This is what Express Scripts does better than anyone: save Americans money on their prescriptions while helping them achieve their health goals." This initiative fills a critical need in the market by offering savings, choice and predictability to both patients and health plan sponsors. Benefits for Patients: Lower Monthly Copays than Cash Programs: The monthly copay for GLP-1 weight loss medicines will be limited to no more than $200, which will have the added benefit of counting towards the patient's annual deductible. Meaningful Savings: Patients can save as much as $3,600 per year compared to buying these medications directly from manufacturers or through consumer programs. Enhanced Safety and Efficacy: By accessing WEGOVY® or ZEPBOUND® through Evernorth's pharmacy benefit, patients will benefit from FDA-approved medications and Express Scripts' robust safety checks designed to reduce negative or adverse drug interactions. Simplified Approval and Access: The prior authorization processes accompanying the new offering will be simplified and automated for faster access. Choice of Pharmacies: Patients can select from a broad network of local retail pharmacies or home delivery through Evernorth's EnGuide Pharmacy, staffed by clinicians with specialized knowledge in GLP-1s for enhanced support. Benefits for Employers & Other Health Plan Sponsors: Significant Cost Reduction: Health plan sponsors will see a significant reduction in the net cost per prescription of GLP-1 medications. Offering Patient Options: Health plan sponsors can ensure that patients have access to the medication that works best for them, without compromising affordability or clinical safety. "As advocates for the millions of people we serve, we drive lower medication costs through negotiations with the pharmaceutical manufacturers, and we're making it easier than ever for health plan sponsors to cover GLP-1s for weight loss," said Harold Carter, PharmD, senior vice president of trade relations at Express Scripts. "This is how we deliver on our promise to put patients first - by making innovative medicines more accessible, at a lower cost, while providing patients and physicians choices in this fast-evolving market." Evernorth has the most extensive suite of GLP-1 solutions available with this new addition, which also includes: EncircleRx, a financial model with more than 9 million enrolled lives that has saved health plans $200 million dollars since 2024. EnReachRx, a high-touch patient support clinical model for dispensing GLP-1 prescription medications. About Evernorth Health Services Evernorth Health Services creates pharmacy, care, and benefits solutions to improve health and increase vitality. We relentlessly innovate to make the prediction, prevention, and treatment of illness and disease more accessible to millions of people. Evernorth capabilities are powered by our businesses, including Express Scripts, Express Scripts® Pharmacy, Accredo, eviCore, and MDLIVE, along with holistic Evernorth platforms and solutions that move people and organizations forward. All Evernorth solutions are serviced and provided by or through operating affiliates of Evernorth Health, a wholly owned subsidiary of The Cigna Group (NYSE: CI), or third-party partners. Learn more at Media Contact:Justine View original content to download multimedia: SOURCE Evernorth Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
