CVS Sees Dire 2019 as Deal From 2015 Turns Out to Be a Lemon (2)

CVS Health Corp. said its results this year will be dragged down by rising costs and poor results from a 2015 takeover of nursing-home pharmacy Omnicare, raising questions about whether an ambitious $68 billion purchase of insurer Aetna last year was the right move for the health-care giant.

Just as it works to integrate one of the most ambitious deals in the health-care industry, CVS is being beset by bad news from all sides. A struggling nursing-home industry has created fewer customers for Omnicare, leading to $6.1 billion in writedowns. Higher wages and employee benefits cut into the gains from ...