Cigna’s Evernorth Health Services division has pledged $100 million to launch a new artificial intelligence-driven pharmacy program. The healthcare giant announced the funding last week as part of its broader strategy to expand capabilities in specialty pharmacy services. The investment is scheduled to run through 2028 and aims to allow clinical care teams to concentrate more on patient outcomes while simultaneously reducing prescription processing times and enhancing service responsiveness.
This financial commitment follows a significant move by Evernorth last year, when it invested $3.5 billion in Shields Health Solutions. Shields operates specialty pharmacies within hospitals and health systems across the United States. The acquisition of Shields occurred shortly after private equity firm Sycamore Partners completed a $10 billion takeover of Walgreens, which had previously partnered with Shields. Shields had worked with more than 80 health systems, encompassing over 1,000 hospitals and clinics in nearly all 50 states.
The specialty pharmacy sector is experiencing a surge in capital from major healthcare entities. In the past two years alone, billions of dollars have been poured into expanding specialty pharmacy operations by companies including Cigna, Humana, CVS, Elevance Health, and UnitedHealth Group. Private equity firms, medical care providers, and health insurers are increasingly targeting this segment, which is considered one of the fastest-growing and most lucrative areas of the healthcare industry.
Specialty drugs, which include biologic medicines and prescriptions not typically dispensed in traditional retail settings, now account for more than half of total prescription spending for health plans, employers, and government programs. Employer clients report that specialty costs represent 60% or more of their total drug spending, a trend driven in part by the growing use of anti-obesity GLP-1 medicines.
Matt Perlberg, president of Evernorth’s pharmacy and care delivery businesses, stated that patients with complex health conditions require comprehensive expert support during difficult times. The new initiative, named Pharmacy Forward, is designed to address these needs through advanced technology and expanded care teams. Evernorth also operates Express Scripts, a large pharmacy benefit management company, and Accredo.
