CVS Health plans split into two companies

CVS Health (CVS) plans to split into two public companies by early 2028, undoing its $78 billion purchase of insurer Aetna. One company will run its retail drugstores, while the other keeps Aetna and the Caremark drug-benefit manager. Existing shareholders will own both. A Leerink analyst said the split could ease state scrutiny of CVS owning pharmacies and an insurer together.