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CVS names new pharmacy services, consumer product chiefs By Reuters

© Reuters. FILE PHOTO: CVS Well being emblem is seen displayed on this illustration taken, Could 3, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -CVS Well being Corp mentioned on Monday that David Joyner would return to move the U.S. diversified healthcare firm’s pharmacy companies and tapped former Cigna Corp (NYSE:) government Amy Bricker as its chief product officer for client enterprise.

Joyner will grow to be the chief of the pharmacy companies section, which additionally consists of the corporate’s pharmacy advantages administration enterprise Caremark, efficient Jan. 30. He’ll succeed Alan Lotvin, who plans to retire in April, CVS mentioned.

Bricker will begin within the newly created position in February after serving as president of Specific Scripts (NASDAQ:), rival Cigna Corp’s pharmacy advantages unit.

The appointments comply with some setbacks CVS confronted in current months in its companies. Its largest medical insurance plan for Medicare recipients acquired a decrease efficiency score from the U.S. Facilities for Medicare and Medicaid Companies in October. The decrease score might have an effect on funds from the federal government for 2024, the corporate mentioned.

In the identical month, Centene (NYSE:) Corp changed Caremark with Specific Scripts to handle the insurer’s annual pharmacy spend of round $40 billion.

The lack of the account, together with the rankings decline, will possible cut back 2024 income by $2 billion, CVS mentioned in November.

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