(Reuters)— U.S. health insurer Cigna Corp said on Thursday it would buy pharmacy benefits manager Express Scripts Holding Co for about $54 billion, a tie-up that reflects pressure on healthcare companies to grow bigger to cut costs. The move follows the $69-billion merger of insurer Aetna Inc and one of Express Scripts’ biggest rivals, CVS…
CVS Health to Acquire Aetna for $69 billion
(Reuters)—U.S. drugstore chain operator CVS Health Corp said on Sunday it had agreed to acquire U.S. health insurer Aetna Inc. for $69 billion, seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies. This year’s largest corporate acquisition will combine one of the nation’s largest pharmacy benefits managers (PBMs) and pharmacy operators with…
U.S. Regulators Sue to Block Anthem-Cigna & Aetna-Humana Mergers
NEW YORK (Reuters)—U.S. antitrust officials on Thursday moved to block an unprecedented consolidation of the national health insurance market, filing suit against Anthem Inc.’s proposed purchase of Cigna Corp. and Aetna Inc.’s planned acquisition of Humana Inc. The U.S. Department of Justice (DOJ) says the two mergers would reduce competition, raise prices for consumers and…
U.S. Antitrust Officials Poised to Block Anthem, Aetna Deals
NEW YORK (Reuters)—U.S. antitrust officials are poised to file lawsuits to block Anthem Inc’s acquisition of Cigna Corp., as well as Aetna Inc.’s takeover of Humana Inc., a person familiar with the matter tells Reuters. Antitrust regulators have been scrutinizing the deals and looking at the potential for higher prices if the insurance market consolidates…
U.S. Justice Department Has Concerns about Aetna-Humana Deal
(Reuters)—The U.S. Department of Justice has significant concerns about Aetna Inc.’s proposed acquisition of health insurer Humana Inc., a source familiar with the situation said on Thursday, and shares of Humana fell more than 11%. Aetna’s purchase of Humana would combine two of the largest providers of Medicare Advantage plans for elderly people, and investors…
California Insurance Commissioner Urges U.S. to Block Anthem-Cigna Deal
(Reuters)—California’s insurance commissioner on Thursday urged the U.S. Department of Justice (DOJ) to block health insurer Anthem Inc.’s acquisition of Cigna Corp., saying he is concerned it will raise premiums in the state. Dave Jones, who as insurance commissioner in California does not have authority to approve the deal, says he believes his recommendation will…
Doubts Mount over Merger of Health Insurers Anthem, Cigna
(Reuters)—Wall Street expressed growing doubts about a pending $54 billion merger of U.S. health insurers Anthem Inc. and Cigna Corp. on Monday as news of management squabbles added to concerns over its review by antitrust regulators. Cigna shares closed down 4% at $126.15, well below Anthem’s original $188 per share offer of cash and stock…
U.S. Hospital Group Warns of Blue Cross Dominance if Anthem Buys Cigna
(Reuters)—The American Hospital Association warned U.S. antitrust regulators that Anthem Inc.’s proposed acquisition of Cigna Corp. will hurt other health insurers’ ability to compete with Blue Cross Blue Shield plans, leading to higher premiums for consumers. Anthem, the country’s second-largest health insurer, runs Blue Cross Blue Shield plans in 14 states. The hospital group, in…
Pfizer to Buy Allergan in $160 Billion Deal
NEW YORK (Reuters)—Pfizer Inc. on Monday said it would buy Botox maker Allergan Plc. in a deal worth $160 billion to slash its U.S. tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would shift Pfizer’s headquarters to Ireland, would be the biggest-ever tax inversion. The news prompted Democratic presidential…
U.S. Antitrust Lawmakers Express Concern About Insurance Mergers
WASHINGTON (Reuters)—Republican and Democratic lawmakers expressed concern about two multi-billion dollar insurance mergers on Tuesday, using a Senate hearing to take issue with the companies’ arguments that they face expanding competition from new rivals. Sen. Mike Lee (R-UT), who chairs the Senate Judiciary Committee’s antitrust subcommittee, said he was worried that consumers would be “locked…