Michael Hop's questions to Cigna Group (CI) leadership • Q3 2024
Question
Michael Hop asked for more detail on the 2025 headwinds and tailwinds, the adoption trend for the HUMIRA biosimilar, and whether Evernorth is now in a sustainable high single-digit growth paradigm.
Answer
CFO Brian Evanko detailed the tailwinds (biosimilars, PBS client advancements, MA sale proceeds) and headwinds (loss of VillageMD dividend, stranded overhead, growth investments). Evernorth CEO Eric Palmer reported that HUMIRA biosimilar adoption among eligible patients grew from 20% in July to 33% for Q3. He reiterated Evernorth's long-term growth target of 5-8%, stating it reflects these dynamics rather than declaring a 'new normal'.