CVS expects its roughly $69 billion acquisition of health insurer Aetna to close before Thanksgiving. CVS plans to open its first concept stores early next year, CEO Larry Merlo told Wall Street analysts Tuesday.
It's not that being a retailer is a bad thing. But investors want drugstores to reinvent their businesses as Amazon's threat looms.
CVS is trying to become a disruptive force itself with its roughly $69 billion acquisition of health insurer Aetna.
CVS CEO Larry Merlo outlined his vision for the combined company earlier this month — a new data-driven health-care model that's more personal, convenient and tailored to individual patients than ever before.
CVS CEO Larry Merlo is, in a way, disrupting and rewriting the business model for his drugstore chain before someone else does.
The Department of Justice is close to approving CVS Health's acquisition of Aetna and Cigna's acquisition of Express Scripts, The Wall Street Journal reported Wednesday, citing people familiar with the matter.
CVS says it returns about 98 percent of rebates to its customers. It expects to keep about $300 million this year, representing about 3 percent of its annual adjusted earnings per share.
The drugstore chain plans to make video visits available nationwide this year through a partnership with Teladoc Health. CVS already offers virtual appointments and the District of Columbia.
CVS Health CEO Larry Merlo tells CNBC's Bertha Coombs he expects to close the $69 billion deal to buy Aetna later this year.
None of them went to Harvard.
CVS Health and Aetna shareholders have approved a merger between the two health-care giants, bringing them one step closer to finalizing a deal that could transform the industry.
If shareholders approve CVS' $69 billion acquisition of Aetna, the Justice Department will still need to sign off on it.
Those likely to be affected are Walgreens, Rite Aid, Kroger and Wal-Mart.
"Over the next couple of years, you'll see a dramatic change," CVS Health CEO Larry Merlo says.
"There's no question that Amazon is a competitor in the marketplace," CVS Health CEO Larry Merlo tells analysts.
Jim Cramer reviews the stocks and events on his radar next week as the last week of heavy earnings approaches.