American CVS Health Corp. It plans to spin off the retail pharmacy business as part of the restructuring. This is reported by foreign media with reference to a representative of the company.
As part of the proposed deal, CVS Health intends to split the business into two separate public entities in the first half of 2028. In particular, the retail pharmacy chain, which serves 9,000 outlets, will be separated into a separate company, and the Aetna insurance business and the Caremark Pharmacy segment for the management of prescription drug benefit programs (PBM) will be merged into another company. One of the new companies will retain the name CVS Health.
CVS's decision to restructure is explained by a number of factors, including the desire to get rid of strict control from the regulator, which objects to combining insurance assets, drug benefit management and retail within the same structure. The state of Tennessee has passed the Fair Rx Act, prohibiting companies from owning PBM businesses and pharmacies in combination to increase transparency and lower drug prices.
In addition, CVS faced financial and operational difficulties in the insurance business and pressure from investors who insisted on structural changes to increase the value of the company, which is worth $117 billion.
CVS has already closed hundreds of facilities, but it still operates 9,000 retail pharmacies and competes with Walgreens and Rite Aid. In 2024, the company considered strategic options, including ceasing operations, but the new management achieved growth through restructuring.
CVS is the only major competitor that has a large pharmacy chain. In 2025, the pharmacy and consumer segment's revenue exceeded $139 billion (about a third of CVS' total sales).
CVS Health Corp. is an American healthcare corporation that combines drug retailing, benefit management, and insurance services. The headquarters is located in Woonsocket (Rhode Island, USA).
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