Anthem Transitions its PBM Contract to CVS, Express Remains in a Favorable Long-Term Position
On Oct. 18, Anthem announced it will officially move its pharmacy benefit manager contract from Express Scripts over to CVS once the current agreement ends in 2020. Anthem will also transition most of the PBM plan management related functions inhouse and service its claims through a segment it will call, IngenioRx. This move was largely expected and upon our initial analysis, we are leaving our moats and fair value ratings intact for Anthem and Express. We plan to leave our moat rating for CVS a...Aetna is a health care benefits company. The company conducts its operations in three business segments: Health Care, which provides medical, pharmacy benefit management services, dental, behavioral health and vision plans provided on both an insured basis and an employer-funded basis and businesses products and services that complement its medical products; Group Insurance, which primarily includes group life insurance and group disability products and long-term care products; and Large Case Pensions, which manages a variety of retirement products (including pension and annuity products) primarily for tax-qualified pension plans.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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