Lets Start With A Real Aetna/ CVS Patient Story

An Aetna-insured patient diagnosed with a severe disorder was promptly authorized a readily available, effective treatment. However, Aetna—now owned by CVS Health—restricted treatment exclusively to CVS Specialty Pharmacy. Months passed without CVS supplying the medication, severely worsening the patient’s condition. Aetna eventually permitted a third-party specialty pharmacy contracted with Aetna to dispense the medication but reimbursed them significantly below drug cost, despite the manufacturer confirming uniform wholesale pricing for both CVS and third-party in-network pharmacies.

The pricing practice between CVS and its entities makes it nearly impossible for any pharmacy other than CVS to dispense specialty treatment, leaving patients without care. This is just one artifact of vertical integration that harms patients and CVS stakeholders.

This patient continues to fight for life saving care.¹

There are many other stories of CVS’s structure interfering with patient care

Beyond Patient Outcomes

Evident by multiple DOJ investigations into UnitedHealth, including an antitrust review², the regulatory climate has turned against healthcare verticals. Regulatory hostility continues to escalate into the Trump administration.

While verticalization benefits executives and the board through increased compensation packages³, it creates long-term risks for investors that undermine shareholder value⁴. These risks include punitive regulatory fines, class-action litigation, and a loss of investor confidence.

Despite over 40% drawdowns from ATHs, we believe operational dysfunction and regulatory risk is not properly priced.

What’s Next

The structured separation of CVS’s retail pharmacies from its insurance and PBM entities.

Replacement of CVS’s executive leadership-appointing executives experienced in corporate restructuring to best represent shareholder interest.

Establishment of an independent ethics oversight board to ensure transparent, legally compliant separation processes without golden parachutes.

How can you Get Involved?

Call Your Senators

Call Your Representatives

Chat With Your Pharmacist

Tell them a story about how healthcare consolidation has impacted you or your loved ones.

If you’re a shareholder in healthcare, vote for your longterm health and financial interests and against excessive executive compensation and future consolidation.

NO ONE THINKS THIS IS WORKING