CVS Health Reportedly Plans Business Split

Woonsocket-based CVS Health is reporting to be separating its retail pharmacy business from its insurance and pharmacy-benefit operations, according to The Wall Street Journal. The split is planned for the first half of 2028.

The restructuring would create a separately traded retail pharmacy company, while keeping health insurer Aetna and pharmacy-benefit manager Caremark together, according to earlier Reuters reporting.

Details about the impact on Rhode Island jobs and the Woonsocket headquarters were not immediately available. CVS has scheduled its quarterly earnings call for Wednesday, November 4, at 8 a.m. Eastern.

The news was first reported as confirmed by the Wall Street Journal. Reuters has reported it as tentative. CVS as of this publication time has not released a statement.

This is a developing story.