Business

CVS, PFE, GDRX, LLY, HIMS stocks surge as pharma battle with PBMs heats up in Washington. Amid scrutiny, CVS Health defends its role in reducing drug costs, citing 90% generic prescriptions and $8 average out-of-pocket costs.

Published on: February 20, 2025, 05:01 AM UTC

Lenovo's Q3 revenue surges 20%, driven by global PC recovery and AI demand. The company maintains its position as the largest PC vendor with a 24.5% market share and diversifies into software, services, and AI solutions.

Published on: February 20, 2025, 05:01 AM UTC

Lenovo's quarterly profit beats projections, driven by AI infrastructure spending and PC market recovery. Investors bet on AI PCs and government subsidies boosting demand, while potential tariffs and economic challenges remain.

Published on: February 20, 2025, 05:01 AM UTC

Dixon Technologies, Google’s Pixel smartphone assembler, expects to double its revenue this fiscal year driven by growth in local electronics manufacturing.

Published on: February 20, 2025, 05:00 AM UTC

KKR acquires 57.92% of Fuji Soft, ending a fierce battle with Bain Capital. In a highly competitive bidding war, KKR's offer of 9,850 yen per share ultimately prevailed.

Published on: February 20, 2025, 05:00 AM UTC

The pharmaceutical industry and pharmacy benefit managers (PBMs) are clashing in Washington, D.C., as the Trump administration takes shape. Drug companies are pushing to share negotiated savings with patients and hold PBMs accountable for limiting patient choices. PBMs, like CVS Caremark, defend their value in the healthcare system, but face scrutiny over their rebate strategy and whether it leads to higher out-of-pocket costs for patients. New models, such as Walmart's $4 generics, GoodRx coupons, and Cost Plus Drugs, offer low-cost prescription access, challenging the role of PBMs.

Published on: February 20, 2025, 04:01 AM UTC

Herbalife appoints new CEO, Stephan Gratziani, as the company continues to revamp after past controversies

Published on: February 20, 2025, 03:02 AM UTC

President Trump proposes returning some federal savings to taxpayers and reducing deficit through his DOGE (Department of Government Efficiency) effort, overseen by Elon Musk.

Published on: February 20, 2025, 03:00 AM UTC

Rio Tinto, the world's second-largest mining company, supports corporate efforts to curb emissions, believing that pursuing green targets can add value.

Published on: February 20, 2025, 02:04 AM UTC

Carvana Reports Record Q4 Revenue and Profit, Exceeding Estimates; Shares Dip in After-Hours Trading

Published on: February 20, 2025, 02:02 AM UTC