CVS Pharmacy logo is seen in Washington DC, United States on July 9, 2024.
CVS Health ‘s board has engaged advisors to conduct a strategic review of its business, according to people familiar with the matter, as the company contends with potential activist pressure and a severely depressed stock price.
The review has been ongoing for some time, said the people, but there is no certainty on what actions, if any, the company will take.
CVS management, including CEO Karen Lynch, met with major shareholder Glenview Capital Monday to discuss the company’s lagging prospects and Glenview’s plans to revive the stock, CNBC previously reported.
But Lynch has to contend with an insurance business hammered by heightened medical costs.
In a statement, CVS spokesman David Whitrap told CNBC:
CVS is working with advisors on strategic review, sources say
