Psyence Biomedical Ltd. (PBM)
NASDAQ (CM) NASDAQ (CM) Primary 
CVS Health's Caremark to Lead CalPERS' PBM Vision: What's at Stake?
CVS wins a major CalPERS deal as Caremark replaces OptumRx, backed by $250M in performance guarantees and drug cost controls.
CVS Sues Arkansas Over Law Banning PBM Ownership Of Pharmacies
CVS Health Thursday sued the state of Arkansas, trying to thwart a law the healthcare company said would lead to the closure of all 23 CVS drugstores in the state.
CVS Health Stock Rallies 38% in May: Is it a Buy Amid PBM Pressure?
CVS' pharmacy segment continues to lead the industry, processing over 1.7 billion prescriptions annually while delivering high medication adherence.
CVS's stock soars after a big profit beat, continued improvement in PBM business
CVS's stock soared toward a three-month high after its quarterly profit beat expectations by the widest margin in more than four years.
CVS's Sell-Off May Be Overblown
CVS plunged to $49, trading at a forward P/E of 8-9x, well below its 16x historical average. PBM segment contributes 46% of CVS income; fears of reform impact led to significant market overreaction. A 25% PBM profitability cut reduces EPS to ~$4, implying a fair value of $60 (with a P/E of 15x).
CVS Health Hits 11-Year Low; PBM Legislation Could Slash Earnings By 50%, Says Analyst
New legislation targeting pharmacy benefit managers (PBMs) could cut CVS Health earnings in half. CVS stock fell, along with UnitedHealth and Cigna.
