Anthem Quarterly Profit Drops

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Anthem expects the deal to close in the fourth quarter of this year. Anthem expects the deal to close in the fourth quarter of this year.
INDIANAPOLIS -

Indianapolis-based Anthem Inc. (NYSE: ANTM) is reporting fourth quarter net income of $424 million, down from $1.2 billion during the same period the previous year. The company also says it has begun accelerating the launch of its pharmacy benefits management company, IngenioRx. 

Plans for the new pharmacy business were first announced in October 2017. The company has originally planned to launch the business in 2020.

"Since announcing our intent to create IngenioRx, we have been carefully planning the transition, including the possibility of an early launch, and are confident in our ability to execute the transition under the accelerated schedule," said Gail Boudreaux, chief executive officer of Anthem. "This will allow us to go to market with better economics earlier, and also accelerate our whole person health strategy, which is proven to reduce total cost of care."

The company is also reporting full-year net income of $3.75 billion, down slightly from $3.84 billion in 2017. Despite the drop, Boudreaux says the fourth quarter and full-year performance provides a strong foundation for 2019. You can view the full Anthem earnings report by clicking here.

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