CVS Health reportedly will break up into two companies
CVS•CVS Health reportedly will split its retail pharmacies from its insurance and pharmacy-benefit operations. One company will keep the CVS Health name and be led by CEO David Joyner.
1. Reported split
CVS Health will split into two companies, separating its retail pharmacies from its insurance and pharmacy-benefit operations, a report said. One company will retain the CVS Health name and be led by CEO David Joyner.
2. Strategy reversal
The separation would reverse CVS Health’s strategy of building an integrated healthcare business through acquisitions, including its roughly $78 billion purchase of Aetna in 2018. The company is set to report quarterly results on Wednesday.
3. Industry scrutiny
The potential shakeup comes as pharmacy benefit managers face growing political and regulatory scrutiny over their role in the U.S. drug supply chain. CVS Health reported record revenue of $402.1 billion in 2025, up 7.8% from the prior year.
