October 31, 2019 / 10:10 AM / 20 days ago

Health insurer Cigna quarterly profit soars 75%

Oct 31 (Reuters) - Cigna Corp reported a 75% rise in quarterly profit on Thursday, benefiting from its acquisition of Express Scripts pharmacy benefits business last year.

The health insurer, which in December closed its $52 billion acquisition of pharmacy benefits manager Express Scripts, said shareholders’ net income rose to $1.35 billion, or $3.57 per share, in the third quarter ended Sept. 30, from $772 million, or $3.14 per share, a year earlier.

Total revenue climbed to $38.56 billion from $11.46 billion. (Reporting by Saumya Sibi Joseph and Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

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