Health stocks, including CVS, slump as Amazon-led group unveils efficiency plans

HEALTH CARE STOCKS, including insurers and pharmacy benefit managers, took a dip after Amazon.com, Berkshire Hathaway and JPMorgan Chase & Co. announced plans to create a joint venture dedicated to reducing health care costs. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
WILMINGTON, Del. – Health care stocks plunged after three companies led by Internet giant Amazon.com Inc. said they plan to collaborate on developing ways to cut the cost of employee health care. Pharmacy-benefit manager Express Scripts Holding Co. dropped 7.2 percent in early U.S. trading Tuesday, while rival CVS Health Corp. dropped 7 percent. Health…

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