Cigna Group (CI) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Cigna Group surfaced in its latest filing.

• The FTC filed an administrative complaint in September 2024 against Express Scripts and two other PBMs alleging anticompetitive and unfair rebate practices related to insulin drug pricing.September 2024
• A final settlement with the FTC was reached in February 2026 resolving all FTC matters without monetary penalty, requiring updates to business practices related to affordability of medications of Express Scripts customers.February 2026
• A $2.7 billion loss recorded in Net investment gains/losses for the year ended December 31, 2024, from full impairment of the VillageMD investment.December 31, 2024
• More than 65,000 pharmacies participated in our networks as of December 31, 2025.December 31, 2025
• The 10 largest retail pharmacy chains represent approximately 47% of the total number of stores in our largest network.
• Goodwill and other intangible assets of approximately $73.5 billion as of December 31, 2025, representing 47% of total consolidated assets.December 31, 2025
• The total indebtedness of The Cigna Group was approximately $31.5 billion as of December 31, 2025.December 31, 2025
• In 2025, responded to a voluntary HIPAA security rule audit from HHS's Office for Civil Rights.2025
• Change Healthcare, a UnitedHealth Group-owned service provider for certain pharmacy benefit management services, was hit by a ransomware attack in February 2024, causing limited disruption and requiring security validations before reconnecting.February 2024
• We may have indemnification obligations to HCSC related to regulatory audits that were ongoing at the time the Medicare Advantage and Part D transaction was completed.
• The company announced a commitment to developing a rebate-free model for pharmacy benefit services clients.
• The Inflation Reduction Act grants CMS the ability to negotiate drug prices for high-cost Medicare Part D and Part B drugs.
• Note 22 to the Consolidated Financial Statements includes a description of material pending legal actions and legal and regulatory matters.
• Note 17 to the Consolidated Financial Statements provides information on obligations under the pension plans.