CVS to Split Off Drugstore Business, Ending Its Bigger-Is-Better Era
The New York Times reports that CVS is set to split off its drugstore business, marking a significant shift in the healthcare giant's strategy. This move comes as part of a major breakup, with shares dropping by 10%.
CNBC also covers the story, stating that CVS will be separating its pharmacies from its insurance business, valued at $117 billion. The share price took a hit following this announcement.
Reuters adds to the narrative, emphasizing the substantial nature of this breakup.