The CVS logo is displayed at a CVS store on May 06, 2026 in Los Angeles, California.
Mario Tama | Getty Images
CVS Health plans to break itself up — and this time, the bet looks a lot more viable.
The healthcare conglomerate on Wednesday announced plans to split into two publicly traded companies by the first half of 2028. CVS would separate its pharmacy business – including roughly 9,000 retail locations – from its major insurance business and pharmacy benefit manager, Caremark.Â
The move comes more than two years after CVS considered a breakup but ultimately walked away from the idea. At the time, analysts questioned whether the retail pharmacy business could survive on its own.
“Back then, the idea of retail standing alone was unthinkable,” Brian Tanquilut, senior equity research analyst at Jefferies, told CNBC.
But the economics of the businesses have changed: CVS’s retail pharmacy business has become more consistently…
