With a big Democratic majority about to take control of Congress — and amid calls to “break up big medicine” — healthcare giant CVS last week announced that it was splitting itself up. The announcement follows a controversial history of CVS activity in Ohio.
The company said the resulting two companies — CVS Health and CVS Pharmacy — would be more focused and would provide better experiences for its customers as it also provides “more affordability, greater access, and a simpler experience,” President and CEO David Joyner said in a written statement. The split is expected to be complete in 2028.
However, the details of the deal show that the breakup doesn’t address what critics see as a core conflict that could be making medicine more expensive…