UPDATE 2-AbbVie lifts 2024 profit forecast, shares hit record high Adds information from investor call throughout, updates shares in paragraph 3 By Leroy Leo and Patrick Wingrove July 25 (Reuters) - AbbVie ABBV.N increased its profit forecast for 2024 on Thursday after reporting strong sales of immunology drugs and quarterly results that exceeded Wall Street expectations, sending its shares to a record high.

AbbVie lifts annual profit forecast on strong immunology drug sales July 25 (Reuters) - AbbVie ABBV.N raised its annual profit forecast on Thursday as strong sales of its key immunology drugs, including Humira, helped it beat Wall Street expectations for the second quarter. Sales of Humira, once the world's top-selling drug, have been declining since its close copies, or biosimilars, hit the U.S.

BRIEF-Cigna Group Declares Quarterly Dividend July 24 (Reuters) - Cigna Group CI.N : THE CIGNA GROUP DECLARES QUARTERLY DIVIDEND CIGNA GROUP - DECLARES QUARTERLY DIVIDEND OF $1.40 PER SHARE Source text for Eikon: ID:nPn2gnfkja Further company coverage: CI.N

UPDATE 1-US drug industry middlemen defend business model amid accusations of raising patient costs Recasts with details from hearing in paragraphs 1, 4-9, 10 By Amina Niasse and Bhanvi Satija July 23 (Reuters) - U.S. pharmaceutical industry middlemen defended their role in the healthcare system during a Congressional hearing on Tuesday after committee members accused them of pushing patients toward expensive treatments even when lower-cost options are available.

Drug middlemen push for pricier medicines, US House committee report finds July 23 (Reuters) - U.S. pharmacy benefit managers push patients towards more expensive treatments even when lower-cost options are available, according to a report by the House Committee on Oversight and Accountability. The committee said it has found evidence that pharmacy benefit managers (PBMs) force drugmakers to pay rebates for placing their branded drugs in a favorable position on a formulary or the list of medicat

BRIEF-The Cigna Group Foundation Launches Its Health Equity Impact Fund July 22 (Reuters) - Cigna Group CI.N : THE CIGNA GROUP FOUNDATION LAUNCHES ITS HEALTH EQUITY IMPACT FUND Source text for Eikon: ID:nPn9DcH8ta Further company coverage: CI.N

ANALYSIS-With no big deal safe, investment bankers move to safeguard fees Bankers push for fees on deals that regulators thwart Top banks seek up to 25% of breakup fees Fairness opinion fees rise to 20-25% of success fees By Anirban Sen NEW YORK, July 22 (Reuters) - Investment bankers are changing how they ask to be paid in a bid to preserve and boost fee revenue they generate from advising companies on mergers and acquisitions, as more big deals face challenges by regulators.

Vermont latest state to sue PBMs for allegedly driving up drug prices By Brendan Pierson July 17 (Reuters) - Vermont's attorney general on Wednesday sued two of the largest U.S. pharmacy benefit managers, accusing them of driving up prescription drug prices for patients in order to enrich themselves, joining other states that have brought similar claims against the drug industry middlemen.

BUZZ-UnitedHealth gains after Q2 profit beat Updates ** Healthcare conglomerate UnitedHealth's UNH.N shares rise 5.6% to $544.24 ** Company's Q2 profit beats, mainly due to strength in its healthcare services unit Optum ** Posts adj quarterly profit of $6.80/shr vs est $6.66 - LSEG ** Shares of other insurers also rise ** Humana HUM.N up 2.4% to $3

BUZZ-U.S. STOCKS ON THE MOVE-Morgan Stanley, Datadog, Berkshire Hathaway Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 Wall Street jumped in upbeat trading on Monday, on a greater chance of presidential candidate Donald Trump winning a second term after surviving an assassination attempt, while interest-rate cut hopes also aided market sentiment.

BUZZ-U.S. STOCKS ON THE MOVE-Health insurance firms, Super Micro, Datadog Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: https://refini.tv/3LI4BU7 The Morning News Call newsletter: https://refini.tv/3dKUyB8 The Dow hit a record high in Wall Street's upbeat trading on Monday, on a greater chance of presidential candidate Donald Trump winning a second term after surviving an assassination attempt, while interest-rate cut hopes also aided sentiment.

BUZZ-Health insurance stocks gain as odds of Trump victory rise after shooting ** Shares of health insurers rise between 2.85% and 1.87% in premarket trading ** Humana HUM.N rises 2.85% to $393.10, UnitedHealth UNH.N gains 2.39% to $523.75, CVS CVS.N up 1.86% to $60.10, and Cigna CI.N up 1.87% to $341.06 ** After the events of the weekend, investors appear to believe that a Trump victory could be more likely in the November election, says Morningstar analyst Julie Utterback ** Former U.S.

Chuck Close's estate settles lawsuit against Cigna over medical bills By Jonathan Stempel NEW YORK, July 12 (Reuters) - The estate of Chuck Close, the artist known for massive photorealist portraits of himself and others, settled a lawsuit accusing Cigna CI.N of failing to pay hundreds of thousands of dollars for needed medical care in the last years of his life.

BUZZ-CVS Health, Cigna down after report FTC to sue PBMs over insulin prices ** Shares of health insurers fall; CVS Health CVS.N down ~1% at $57.05 and Cigna CI.N slips 0.8% to $325.88 ** The U.S. Federal Trade Commission (FTC) plans to sue pharmacy-benefit managers (PBMs) CVS Health, Cigna and UnitedHealth UNH.N , a source familiar with the matter told Reuters ** The FTC is suing the companies over their tactics for negotiating prices for drugs, including insulin - source ** The FTC is also loo

UPDATE 5-US FTC to sue drug middlemen over insulin prices, source says Adds Novo declining comment, background on insulin By Jody Godoy and Mariam Sunny July 10 (Reuters) - The U.S. Federal Trade Commission is planning to sue UnitedHealth UNH.N , Cigna CI.N and CVS Health CVS.N over their tactics as middlemen in negotiating prices for drugs including insulin, a person familiar with the matter s aid on Wednesday.

US FTC to sue drug middlemen over insulin prices, WSJ reports July 10 (Reuters) - The U.S. Federal Trade Commission is planning to sue UnitedHealth UNH.N , Cigna CI.N and CVS Health CVS.N , the three largest pharmacy-benefit managers, over their tactics for negotiating prices for drugs including insulin, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter.

BRIEF-FTC To Sue Unitedhealth Group, Cigna Group And CVS Health Over Insulin Prices- WSJ July 10 (Reuters) - FTC TO SUE UNITEDHEALTH GROUP’S OPTUMRX, CIGNA GROUP’S EXPRESS SCRIPTS AND CVS HEALTH’S CAREMARK OVER INSULIN PRICES- WSJ Source text : https://tinyurl.com/2cap4863 Further company coverage: CI.N

UPDATE 2-Middlemen have outsized influence on US drug prices, FTC says Adds UnitedHealth comment in paragraph 6 By Ahmed Aboulenein and Jody Godoy WASHINGTON, July 9 (Reuters) - The consolidation of pharmacies and health insurance companies through years of dealmaking has led to a handful of pharmacy benefit managers exercising outsized influence over prescription drug prices, the U.S.

BUZZ-PBMs slip after FTC indicates outsized influence of middlemen on US drug prices ** Shares of pharmacy benefit managers slip after the U.S. Federal Trade Commission says consolidation of pharmacies and health insurance companies through years of deal making has led to a handful of pharmacy benefit managers exercising outsized influence over prescription drug prices ** Shares of CVS CVS.N fall 1%, Humana HUM.N down 1.2% while UnitedHealth UNH.N marginally down ** Pharmacy benefit managers, or

EXPLAINER-Why are US pharmacy benefit managers under fire? By Ahmed Aboulenein WASHINGTON, July 9 (Reuters) - The U.S. Federal Trade Commission said on Tuesday in an interim report on its investigation into pharmacy benefit managers that healthcare consolidation has given the companies outsized influence over prescription drug prices that could warrant regulation.