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...Cigna is a holding company. The company is a global health services organization. Through its subsidiaries, the company provides a set of medical, dental, disability, life and accident insurance and related products and services. The majority of which are provides through employers and other groups such as governmental and non-governmental organizations, unions and associations. The company also provides commercial health and dental insurance, Medicare and Medicaid products and health, life and accident insurance coverages to individuals in the U.S. and selected international markets. The company's segments include: Global Health Care; Global Supplemental Benefits; Group Disability and Life; and Other Operations.
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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