Slaven Vlasic/Getty Images Entertainment A federal appeals court has sided with Cigna ( NYSE: CI ) in its efforts to bar Amy Bricker, the former head of its pharmacy benefits management (PBM) unit, Express Scripts, from joining CVS Health ( NYSE: CVS ) amid an ongoing court case. The Eighth Circuit Court of Appeals issued its opinion on Wednesday backing a Missouri District Court, which issued a preliminary injunction last year preventing Bricker from taking up a new role at CVS ( CVS ) as its Chief Product Officer, Consumer. "When a district court correctly interprets state law and does not clearly err in its factual findings, we will rarely disturb its grant of a preliminary injunction to enforce a non-compete agreement," the appeals court said in its ruling.
In a case filed in January 2023, Cigna ( CI ) alleged that Bricker was subject to a non-compete contract clause and that her appointment at CVS ( CVS ), one of its major rivals in the PBM space, puts its trade secrets at risk. The U.S.
District Court for the Eastern District of Missouri granted Cigna ( CI ) a temporary restraining order in February before approving a preliminary injunction in June. More on Cigna, CVS Health, etc. The Correct Play On CVS Health CVS: Shares Decimated, But I'm Buying For The 4.
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