Losing PBM business from Blue Shield of California. Buh bye Karen
26 replies (most recent on top)
@lth+1o9Aj7lQ won't hurt CVS? As the stock drops 10% on the news.
PBMs are dying and being regulated into oblivion. Is it that hard to accept or are you going down with the ship?
Ge-z you stupid people! It’s blue shield of CA and not Blue cross of ca, two separate companies and both very small guppies in the fish pond. Blue shield has been in a decline for years and had layoffs last year and has been losing business. They have to do something to stay afloat. It won’t hurt CVS.
Rite Aid and Walgreens are done CVS is still gonna be here. Your options are gonna Be limited. Walmart and Target are going next Amazon is about to crush them out of existence. Price is crud.
Harve D, I’d be very happy to take the opposite side of the bet that the government will “dismantle” the PBMs. That will happen the same time “single payer” is implemented in the US, which is to say, never (or not for decades).
You are right that CVS is not going under any time soon, but what is apparent is that the C Suite is rudderless and a clown show. $19B on acquisitions that are dragging down EBITDA. Losing business in a very competitive industry. PBM soon to be dismantled by market forces and Govt fiat. Hopefully your purchase was a short.
Anyone not being laid off has to take the negativity by the laid off with a grain of salt. What do you expect? Today I bought CVS shares. Market cap falls ~10% on news that 1/2 of a mid-sized contract in a single division is lost? Overreaction, that’s just math folks. The actual facts are we have a top 2 retail pharmacy, top 3 PBM and top 5 health insurer. Would you rather be at Rite Aid, actually headed for bankruptcy? Walgreens? Come on. We have issues but the company “collapse”? (Eye roll)
God help us all.
@ppa+1o9Aj7lQ read the real news! From Barrons: CVS will continue handling specialty dr-gs for Blue Shield of California’s 4.8 million members. from Forbes:blue Shield executives told the Journal they believe the change could save 10% to 15% on pharmaceuticals after its full launch in 2025. CVS Caremark will still handle specialty medications for Blue Shield and pharmacy benefit manager Prime Therapeutics will help negotiate dr-g pricing under the new plan.
Omg, we didn’t dump yet! My kids college fund.
Yikesss. Business sentiment is down. Lol, and the person that posted they weren't worried about Amazon; Definitely should be worried. The balance sheet just witnessed a lot of asset depreciation in less than 24 hours. Also, that big plan for NYC Medicare contract is dead in the water because it's tied up in a legal thicket because retirees filed suit to block the new membership in the Advantage plan and won. Mayor Adams says they'll appeal, which is a protracted process. Don't count your chickens before they've hatched.
It bottomed out $65 is too much of a deal.
$64.76 😂😂
@hez+1o9Aj7lQ what? The reports say they're dropping Caremark as their PBM and switching to a mish mash of other providers.
BSC IS NOT DROPPING CVS - read the reports - geesh....they are working across 5 companies. Do you people not understand business???
Bad news, we'd better waste millions more on McKinsey and Deloitte consultants to tell us what to do.
- 24 it's $65 and falling faster guys nice knowing all of you the company is going under.
Are this weeks layoffs in anticipation because CVS execs knew this news out of California, or is that just a coincidence to end cap a cr-ppy week?
BS of Cal is dropping Caremark for AMZN and other companies. BS of Calif says they can save 500 million a year from this change.
This c un t needs to be removed today. What an embarrassment she is
A capable ceo would require fewer outsourced/consulting services, reducing expenses.
CA Blue Cross & Blue Shield voided their contract with CVS yesterday.
Yeah it dropped 7% overnight it dropped off yesterday to $72.72 now it's 67.50 and still falling the market just gave it get out rating. Panic.
Karen is officially on the hot seat now
Too focused on celebrity ceo'ism. No substance, just slides.
When did they know and how much stock was dumped?