Anthem, Centene Focus on PBM Businesses in 1Q Earnings
April 29, 2019
Following UnitedHealth Group’s lead (HPW 4/22/19, p. 3), Anthem, Inc. reported strong financial results for the first three months of 2019. The Blues giant cited rising profits and raised its 2019 outlook, with its chief executive touting earnings “driven by our strongest risk-based growth in nearly a decade.” Unlike UnitedHealth, Anthem didn’t mention Medicare for All or other health policy issues sparking recent investor concerns and tumbling stock prices, though Anthem’s management team touched on drug rebates at one point. Instead, much of Anthem’s April 24 earnings call focused on its soon-to-launch in-house PBM IngenioRx (HPW 2/4/19, p. 3) and implications of UnitedHealth’s exit from Iowa’s Medicaid managed care program.