Health insurer Cigna beats quarterly profit estimates on health services strength

Cigna's Q3 profits surpass Wall Street expectations, driven by Evernorth's robust performance. Evernorth's adjusted revenue surges by 15%, reaching $60.39 billion, due to new clients and higher sales in their specialty pharmacy segment. Cigna maintains its annual adjusted profit outlook and beats Wall Street estimates for Q3 earnings. The company also announces plans to eliminate prescription drug rebates for commercial health plans by 2027, aiming to lower costs for patients. Despite increased stop-loss insurance costs, Cigna demonstrates control over growing expenses, delivering strong Q3 results.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.