CVS Health plans to split its pharmacies from its insurance arm
CVS Health will split into two companies, separating its drugstores from its insurance and drug-benefit businesses, according to New York Post reporting. The Post bases its story on a Wall Street Journal report. CVS bought the insurer Aetna for about $78 billion in 2018.
The Wall Street Journal reported the plan on Tuesday, the New York Post says. One of the two companies will keep the CVS Health name and be led by current chief executive David Joyner, the Journal reported, citing the company.
CVS was set to report quarterly results on Wednesday, the Post says. It did not immediately respond to a Reuters request for comment, the paper reports.
A split would mark a big reversal of the strategy CVS built through buying other firms, the Post says. That includes its roughly $78 billion purchase of health insurer Aetna in 2018.
The Financial Times earlier reported that CVS was weighing a spinoff of its retail pharmacy business, the Post says. That business runs about 9,000 drugstores. Under that plan, Aetna and the drug-benefit manager Caremark would stay together.
The move comes as pharmacy benefit managers face growing political and regulatory scrutiny over their role in the drug supply chain, the Post reports.
CVS reported record revenue of $402.1 billion in 2025, up 7.8% from the year before, the paper says. The company had looked at options including a breakup in 2024, Reuters reported at the time.
Shares have rebounded under Joyner, who took over in October 2024, the Post says. The company's market value is about $117 billion, the paper reports.
Only the New York Post has reported this so far, and NewsHabit hasn't seen independent confirmation. The Post credits The Wall Street Journal for the news.
Only New York Post has reported this so far, and NewsHabit hasn't seen independent confirmation.
What we know: The New York Post, citing The Wall Street Journal, says CVS will split into two companies.
What we don't: When the split would happen and how the businesses would be divided. No second outlet has confirmed the plan, and CVS has not responded in the report.
Where outlets agree This is one outlet's report, with the New York Post citing a Wall Street Journal story on the CVS split.
Where they differ The cited reports agree on the key facts so far.