Cigna Rebounds, Posts Profit of $515 Million

Cigna Corp., the fourth-largest U.S. health insurer, reported a second-quarter profit of $515 million after selling a retirement unit and reducing expenses. The company raised its full-year profit forecast.

Net income was $3.67 a share, contrasted with a loss of $53 million, or 38 cents, a year earlier, the Philadelphia-based company said. Sales were little changed at $4.63 billion.

Cigna shares fell after the company was named as a defendant in a lawsuit alleging pharmacy-benefit manager Express Scripts Inc. inflated drug costs in the state’s health plan. The shares fell $1.98 to $60.60 on the New York Stock Exchange.