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Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Cigna Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service ("Moody's") downgraded the ratings of Diplomat Pharmacy, Inc. ("Diplomat") including the Corporate Family Rating to B3 from B2, the Probability of Default Rating to B3-PD from B2-PD, and the senior secured rating to B3 from B2. At the same time, Moody's affirmed the SGL-3 Speculative Grade Liquidity Rating.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Express Scripts Holding Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
ST. LOUIS, May 16, 2019 /PRNewswire/ -- To make it simpler for consumers and payers to navigate the hundreds of thousands of currently available personal health technologies and interventions, Express Scripts, a Cigna company, will introduce the industry's first, stand-alone digital health formulary. "We are in an exciting age when technology is giving people even greater control of their own health and well-being. "We see a need to put mechanisms in place to help carefully manage these innovations, and are proud to lead again by being the first health services organization to establish a formulary of this nature.
ST. LOUIS, April 16, 2019 /PRNewswire/ -- Express Scripts today announced that its specialty pharmacy, Accredo, will open a new location in Honolulu to provide high-touch pharmacy care to people living with chronic, complex health conditions, such as multiple sclerosis, cancer and hemophilia. AlohaCare, a Hawaii-based, non-profit health plan, has selected Accredo as its preferred specialty pharmacy to serve its members living on Oahu, Kauai, Molokai, Lanai, Maui and Hawaii Island. "With its mission to care for people who are underserved with specific health needs, AlohaCare is a leader in putting patients first," said Brian Seiz, President, Accredo.
Investing.com - The Trump Administration wants the entire Affordable Care Act (also known as Obamacare) declared unconstitutional and Cigna (NYSE:CI) shares fell back Tuesday as a result.
Moody's Investors Service ("Moody's") downgraded the ratings of Diplomat Pharmacy, Inc. ("Diplomat") including the Corporate Family Rating to B2 from B1, the Probability of Default Rating to B2-PD from B1-PD, the senior secured rating to B2 from B1, and the Speculative Grade Liquidity Rating to SGL-3 from SGL-2. The downgrade of the Corporate Family Rating to B2 from B1 reflects challenging conditions in Diplomat's two major operating segments -- specialty pharmacy and pharmacy benefit management (PBM) -- that will keep debt/EBITDA elevated above the 4.5x threshold that Moody's incorporated in the prior rating of B1.
Richard Pzena (Trades, Portfolio), t he founder and co-chief investment officer of Pzena Investment Management, sold shares of the following stocks during the fourth quarter. Warning! GuruFocus has detected 2 Warning Sign with QSR. The guru closed his Express Scripts Holding Co. (ESRX) stake.
The U.S. government's proposal to eliminate rebates that pharmacy benefit managers receive from drugmakers will not have a meaningful impact on growth, and does not affect the commercial market, Cigna Corp Chief Executive Officer David Cordani said on Friday. Investors are worried that Cigna, which closed its $52 billion acquisition of PBM Express Scripts in December, could be hurt by the Trump administration's proposal targeting after-market discounts that middlemen in the pharmaceutical supply chain have received for decades.
Anthem stock vaulted higher, touching a buy point intraday, after the company issued a far-better-than-expected profit forecast this year.
This concludes a rating review initiated on March 9, 2018 following the announcement that Cigna Corporation ("Cigna") reached a definitive agreement to acquire Express Scripts in a transaction valued at approximately $67 billion. Moody's changed the direction of the rating review from uncertain to downgrade on September 6, 2018.
Cigna Holding Co (NYSE: CI) recently completed its acquisition of pharmacy benefit manager Express Scripts. Raymond James analyst John Ransom upgraded Cigna from Market Perform to Outperform with a $215 price target. Wells Fargo Securities analyst Peter Costa maintained a Market Perform rating for Cigna and lowered the price target from $221 to $200.
Express Scripts CEO Tim Wentworth on Thursday sought to calm fears that the company's $54 billion acquisition by insurer Cigna would negatively impact St. Louis.
Moody's Investors Service has downgraded Cigna Corporation's long-term ratings, including its senior unsecured debt rating to Baa2 from Baa1, upon the closing of its acquisition of Express Scripts Holding Company (ESI, Baa2, Review Down). Total senior unsecured debt of approximately $41 billion includes $20 billion issued by subsidiary Halfmoon Parent, Inc. (now known as Cigna Corporation), legacy Cigna Corporation (now known as Cigna Holding Company) debt of approximately $5.3 billion and legacy ESI debt of approximately $12.8 billion.
Cigna Corp (CI.N) on Thursday closed its $54-billion (42.65 billion pounds) deal to buy Express Scripts Holding Co, creating one of the biggest providers of pharmacy benefits and insurance plans in the United States, a combination it says will help it improve healthcare coordination and cut costs. Cigna's deal puts it in direct competition with two other healthcare companies set up the same way - Aetna with CVS Health Corp (CVS.N) and UnitedHealth Group Inc (UNH.N) with Optum. Cigna's deal has already passed antitrust scrutiny.
Cigna closed on its acquisition of north St. Louis County-based Express Scripts Thursday after receiving final regulatory approval for the $54 billion deal on Wednesday.
This could indicate that investors who seek to profit from falling equity prices are not currently targeting ESRX. Index (PMI) data, output in the Healthcare sector is rising. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way.