CVS Pharmacy filed the federal lawsuit this week.
CVS is suing a former employee in federal court in an attempt tp block him from joining a competitor, citing breach of contract and misappropriation of trade secrets.
On February 9, CVS Pharmacy sued Timothy Brown, a “high compensated Chief Medicare Officer” of Aetna, who announced in January he was leaving to take a position with Cigna.
In 2020, total revenues increased 32.0% to $256.8 billion
“After participating in Aetna’s annual process of developing its strategy for the 2022 Medicare Advantage plan year, Brown seeks to join Aetna’s direct competitor, Cigna, in a role where he will be directly responsible for growth of Cigna’s share of the national Medicare Advantage market and expansion of Cigna’s footprint,” according to the lawsuit.
Operator
Ladies and gentlemen, good morning, and welcome to the CVS Health fourth-quarter and full-year 2020 earnings conference call. [Operator instructions] I would now like to turn the call over to Valerie Haertel, senior vice president of investor relations for CVS Health. Please go ahead.
Valerie Haertel
Senior Vice President of Investor Relations
Thank you, and good morning, everyone. Welcome to the CVS Health fourth-quarter and full-year 2020 earnings call. I m Valerie Haertel, senior vice president of investor relations for CVS Health. I am joined this morning by Karen Lynch, president and CEO; and Eva Boratto, exeutive vice president and CFO.