Largest US Pharmacy Chain Splits In Two, Separates Selling Drugs And Insurance
- CVS plans to divide into retail and healthcare businesses.
- The retail company would include about 9,000 pharmacies.
- CVS shares fell 12.5% after the announcement.
CVS plans to split into two publicly traded companies, separating its pharmacy retail operations from businesses including health insurance and pharmacy benefits. The move follows a strategic review and comes as the company faces pressure from changing regulations and government drug-pricing policies. The proposed retail company, CVS Pharmacy,…