CVS Plans to Split Into Two Companies

CVS Health will retain its biosimilar subsidiary Cordavis after splitting into two publicly traded entities by 2028. The company, with a market cap of around $117bn, will separate its healthcare solutions business from its retail pharmacy chain. Cordavis, established in 2023, markets five biosimilars and aims to reduce drug costs. CVS Health confirmed Cordavis will remain with the healthcare solutions company post-split.

CVS Health plans to split its retail pharmacies into a separate publicly traded company, CVS Pharmacy, by early 2028. The new company will include retail pharmacies, mail pharmacy, MinuteClinic, and Health100. CVS Health will retain Aetna, CVS Caremark, and other healthcare services. Existing shareholders will own shares in both companies. The move follows recent job cuts and legal actions involving pharmacy benefit managers.

CVS Health, Walgreens, and Walmart have agreed to pay $13.8 billion to settle lawsuits from U.S. governments over opioid claims. The settlement resolves thousands of cases brought by states, localities, and tribes.

CVS Health, Walgreens, and Walmart agreed to pay $13.8 billion to settle U.S. opioid-related lawsuits. Separately, CVS plans to close 900 stores over three years to focus on health services.

CVS Health (CVS) shares fell 12.5% after announcing a plan to split into two companies, separating retail pharmacies from healthcare services and insurance. The company reported Q3 revenue of $108.4B, up 5.4%, and raised its full-year adjusted earnings forecast to at least $8.20 per share. Investors express concerns about the complexity and cost of the split.

CVS Health announced on 4 November 2026 it will split into two companies by mid-2028, with its pharmacies becoming a separate listed entity. The move follows a 12% share price drop and regulatory scrutiny. The article discusses implications for Britain's NHS, including pharmacy services, medicines pricing, and care delivery models.