The CEO of Cigna, David Cordani on this Thursday had taken a lap of victory over a year after the group of health services had executed their controversial takeover of Express Scripts of the prescription manager.
He recently said that they’re proving that the combination is working. They have been said that they are growing this company as has been noted as per them by different media channels. They have said that they have increased the guidance of revenue and the guidance of earnings in each of the last quarters in the year 2019 and they ended this year with one more beat.
When acquisition had been announced first early in the year 2018, the shareholders of Cigna had been disapproving this deal and the stocks had sold off over 11% which was the decline in one day in the last decade as per the results. Ahead of the vote of shareholders approving the deal later in the year. Some of the investors have slammed this move saying that it is going to give Express Scripts a valuation which is ridiculous and may rival the worst acquisitions in the history of corporate.
For Cigna, Express Scripts had given them a chance for directly competing with the CVS which had bought for the $69 billion with Aetna for this particular year.
After the deal had been closed in $54 billion in the month of December for the year 2018 as the stock had slipped below the level of $145 a share in the month of April and has therefore gained over 45% at the time of closing as of Wednesday to a level of $211.86.