Reports say CVS Health (CVS.US) will split its retail pharmacy and insurance businesses, a major reversal of its integrated strategy.

Zhitong Finance APP has learned that, according to reports, CVS Health (CVS.US) will split into two companies, separating its retail pharmacy business from its insurance and pharmacy benefit management businesses. One of the companies will retain the CVS Health name and be led by current Chief Executive Officer David Joyner. CVS Health is scheduled to report quarterly results on Wednesday, and the company did not immediately comment.