CVS Splits Up US$117 Billion Business, Shares Fall
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The American pharmaceutical company CVS has announced plans to break up its business, which is valued at US$117 billion. The company will separate its pharmacy business from its insurance business. Following this announcement, CVS's share price fell.
CVS said the separation is expected to be completed in the first half of 2028. With these changes, CVS will once again become a standalone pharmacy chain.
The separation means the insurance business and the pharmacy business will be managed separately. This report does not provide further information on how the separation process will be carried out.
This news shows a major change in the pharmaceutical and health insurance industries in the United States. Readers in Malaysia can continue to follow further developments regarding the company's decision.
Sources: The Edge Malaysia
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