CVS Health plans to separate approximately 9,000 CVS retail pharmacies and its mail-order pharmacy business from CVS Caremark and Aetna in the first half of 2028, according to a November 3, 2026, report by The Wall Street Journal. Under the proposed structure, CVS Health would retain its insurer, its pharmacy benefit manager (PBM) and its specialty drug business. Where CVS chose to draw that line may tell us more about the company’s strategy than the decision to separate the retail stores.
Buchanan Ingersoll & Rooney