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The Cigna Group - CI STOCK NEWS

Welcome to our dedicated page for The Cigna Group news (Ticker: CI), a resource for investors and traders seeking the latest updates and insights on The Cigna Group stock.

The Cigna Group (NYSE: CI) is a global health services company dedicated to improving health outcomes and providing comprehensive healthcare solutions. The company operates primarily through two platforms: Evernorth Health Services and Cigna Healthcare. Cigna offers a diverse portfolio of pharmacy, medical, behavioral, dental, and supplemental products and services.

Pharmacy Benefit Management (PBM) and Health Insurance: Cigna's PBM services experienced significant growth following its 2018 merger with Express Scripts. The company's PBM and specialty pharmacy services are primarily sold to health insurance plans and employers, with notable contracts including the Department of Defense and insurer Centene. Cigna serves 18 million U.S. medical members as of December 2023, focusing on self-funded employer arrangements.

Recent Achievements: In 2024, Cigna repurchased $3.2 billion of common stock through accelerated stock repurchase agreements, reflecting strong business growth and commitment to shareholder value. The company is also addressing chronic conditions by introducing innovative solutions like EncircleRx, which offers financial guarantees for managing the cost of GLP-1s.

Partnerships and Community Engagement: Cigna partners with various organizations to enhance community health. This includes sponsoring the NFL's Vincent Country Safe Zone Activity Day, providing essential health screenings and eye exams for students, and participating in behavioral health initiatives through Evernorth Behavioral Care Group.

Financial Performance: Cigna reported strong first-quarter 2024 results, with adjusted income from operations of $1.9 billion, reflecting growth across its Evernorth and Cigna Healthcare businesses. The company also announced pricing terms for tender offers to manage its senior notes, aiming for significant savings for both patients and health plans through biosimilar initiatives.

Future Outlook: As of 2024, Cigna aims to achieve an adjusted EPS growth target of 10%-14% and has reaffirmed its 2024 adjusted EPS guidance of at least $28.25. The company continues to innovate and expand its healthcare offerings, focusing on affordability, access, and improved clinical outcomes.

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On July 9, 2024, The Cigna Group (NYSE: CI) published its 2023 ESG report, emphasizing its dedication to fostering a sustainable and equitable healthcare system. The report, structured around four pillars—Healthy Society, Healthy Workforce, Healthy Environment, and Healthy Company—highlights significant progress and key performance indicators. Geneva Brown, vice president of ESG and Diversity, Equity, and Inclusion, reiterated Cigna's commitment to positive global change. The report showcases Cigna's strategies for community strengthening and environmental sustainability, reflecting its purpose-driven mission to advance better health worldwide.

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On July 3, 2024, The Cigna Group (NYSE: CI) announced the release of its second quarter 2024 financial results, scheduled for August 1, 2024. The results will be available by 6:30 a.m. Eastern Time (ET) on the company's Investor Relations webpage. A conference call to review these results will follow at 8:30 a.m. ET, accessible via domestic and international dial-in numbers, with the passcode 8028932. A replay of the call will be available from 12:30 p.m. ET on August 1 until 11:59 p.m. ET on August 15, 2024. The conference call will also be webcast live on Cigna's Investor Relations webpage in a listen-only mode.

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Express Scripts, part of Evernorth under The Cigna Group (NYSE: CI), reported that members with employer-sponsored insurance saw a 1% decrease in out-of-pocket prescription costs in 2023, averaging $15.10 for a 30-day supply, despite a price increase for 60% of branded drugs. Their negotiations and innovative solutions contributed to these savings, even with rising consumer prices.

Four in five members spent less than $250 annually on medications. The Patient Assurance Program capped diabetes medication costs at $25 for a 34-day supply, leading to $92 million in savings. This highlights Express Scripts' efforts to manage drug prices and ensure affordability for patients.

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Express Scripts, part of The Cigna Group's Evernorth, announced a collaboration with CPESN USA to improve healthcare access at independent pharmacies. Guided by its Independent Pharmacy Advisory Committee, Express Scripts aims to enhance care services, initially focusing on Medicare beneficiaries with hypertension and diabetes. The collaboration will involve over 3,500 CPESN pharmacies in 44 states, providing services such as care coordination, identifying at-risk patients, and optimizing medication management. This initiative supports Express Scripts' broader goal of strengthening the role of independent pharmacists in community health and reducing healthcare costs.

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The Cigna Group (NYSE:CI) has announced that Brian Evanko, EVP and CFO of The Cigna Group, and President and CEO of Cigna Healthcare, will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024, in Miami, FL.

The presentation is scheduled for 10:00 a.m. ET and will be available via a live webcast on The Cigna Group's Investor Relations website. Investors interested in listening live should visit the site 15 minutes prior to the start time to download and install necessary audio software.

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Global health company The Cigna Group (NYSE: CI) has climbed to No. 7 on Fair360's 2024 Top 50 Companies list, improving by seven spots from 2023. The ranking highlights The Cigna Group's commitment to workplace fairness, diversity, and community support. Key accomplishments include surpassing their $1 billion annual spending goal with small and diverse businesses by $400 million ahead of schedule, and pledging $1.6 billion annually by 2025. The company also announced a new philanthropic initiative, committing $27 million in grants over three years to support youth mental health, veterans' housing stability, and health equity in high-risk communities.

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The Cigna Group reported strong first quarter 2024 results with $57.3 billion in total revenues, a net loss of $0.3 billion, adjusted income from operations of $1.9 billion, and raised their 2024 outlook to at least $28.40 per share. Shareholders experienced a net loss due to an investment loss related to VillageMD equity securities. Despite this, the company remains optimistic about its strong performance and growth trajectory.

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The Cigna Group releases a new report highlighting the increasing youth mental health crisis, detailing challenges parents face, and suggesting steps for employers to support workforce mental health. The report reveals a significant rise in young people with mental health conditions, inadequate treatment, and challenges faced by working parents in obtaining care for their children. Employers have an opportunity to enhance family mental health support and improve health outcomes. The Cigna Group also introduces a philanthropic program to address post-pandemic acute stress in youth mental health.
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Evernorth's announcement of the availability of a Humira biosimilar at $0 out of pocket for Accredo patients in June is set to save individual patients around $3,500 on average per year. The biosimilar will offer both high- and low-concentration options, providing cost-effective alternatives for patients.
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AM Best affirms the credit ratings of The Cigna Group and its subsidiaries, reflecting strong balance sheet strength, operating performance, and favorable business profile. The ratings are stable, indicating a positive outlook. Cigna's core U.S. health insurance entities show consistent cash flow, strong earnings, and robust capitalization. The organization's high goodwill/intangibles and debt management are notable. Cigna's commercial segment drives earnings, with positive growth expected in 2024. The sale of its Medicare business to Health Care Service is on track, enhancing Cigna's business profile. Overall, Cigna showcases a strong position in the health care market, supported by a diverse product portfolio and comprehensive ERM program.
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FAQ

What services does The Cigna Group offer?

The Cigna Group offers pharmacy, medical, behavioral, dental, and supplemental products and services through its Evernorth Health Services and Cigna Healthcare platforms.

What is Cigna's primary business focus?

Cigna primarily focuses on pharmacy benefit management and health insurance services, catering to health insurance plans and employers.

What are some recent achievements of The Cigna Group?

Recent achievements include a $3.2 billion stock repurchase, the launch of EncircleRx for managing GLP-1s costs, and strong financial results in the first quarter of 2024.

Who are Cigna's key partners?

Cigna partners with organizations like the NFL's Vincent Country, Centene, and provides services for the Department of Defense.

What are Cigna's future plans?

Cigna aims for an adjusted EPS growth target of 10%-14% and continues to innovate in healthcare, focusing on affordability, access, and improved clinical outcomes.

How does Cigna support community health?

Cigna supports community health through events like Vincent Country Safe Zone Activity Day, offering health screenings, eye exams, and other health services.

What is Cigna's role in pharmacy benefit management?

Cigna's PBM services, expanded through its merger with Express Scripts, are sold to health insurance plans and employers, including the Department of Defense and Centene.

What financial initiatives has Cigna undertaken recently?

Cigna has repurchased $3.2 billion of common stock through accelerated stock repurchase agreements and announced pricing terms for tender offers to manage senior notes.

What are some of Cigna's innovative healthcare solutions?

Innovative solutions include EncircleRx for managing GLP-1s costs and Evernorth Behavioral Care Group for expanding access to quality behavioral health therapy.

How many medical members does Cigna cover in the U.S.?

As of December 2023, Cigna covers 18 million medical members in the U.S.

The Cigna Group

NYSE:CI

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1.34%
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