Anthem reported an impressive $24 billion in operating revenue in Q1 2019 — up 9% YoY:
The bigger picture:The three PBM giants that dominate the industry jeopardize IngenioRx's success. Express Scripts, CVS, and Optum Rx have all merged with major insurers: They're owned by health insurance companies Cigna, Aetna, and UnitedHealthcare, respectively. And together, these three titans control more than two-thirds of the US PBM market. Anthem will need to quickly establish and migrate beneficiaries to its PBM if it's to compete with already-thriving PBMs.
Anthem is breaking into the market as rampant regulatory uncertainty endangers PBM's margins. Paramount to the Trump administration's healthcare policy is cracking down on soaring drug prices — a stance that's occasionally put PBMs in the
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