The Cigna Group Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Lisa Christine Gill - JPMorgan Chase & Co, Research Division - Analyst : I just really wanted to focus on a couple of things. One would be potential PBM legislation as we think about potentially an end of year bill. What are your thoughts on what could be included on the PBM side? And then secondly, David, you talked about EnCircleRx and talked about GLP-1. I think this is a real benefit, especially when I think about your PBM business for the self-insured market. Can you maybe just talk about the opportunities that you see there? And how you see that going forward? Are we seeing more people sign up for this in '24, et cetera?

Question: Albert J. William Rice - UBS Investment Bank, Research Division - Analyst : Just to maybe continue to focus on some of those potential tailwinds for next year. I think the investment to get that large Centene contract up and running for this year was about $0.50 drag roughly $200 million pretax. When you think about that for next year, should we just assume that, that drag goes away? I know PBM contracts typically ramp up over time. Or is there some potential level of profit contribution, so the swing is greater than $0.50? And then on the biosimilar comment. I know this year, in the second half, you'd included some benefit from the HUMIRA conversion or having some biosimilar competition. Should we think of -- what you're thinking about as a tailwind of just annualizing that? Or are there other opportunities that go beyond just annualizing the second half benefit from that HUMIRA conversion?