UPDATE 4-Cigna deal gets antitrust nod, positive sign for CVS/Aetna [Reuters (UK)]
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Source: Reuters
Cigna deal gets antitrust nod, positive sign for CVS/Aetna | Reuters 5 Min Read (Reuters) - Health insurer Cigna Corp’s ( CI.N ) $52 billion acquisition of pharmacy benefits manager Express Scripts Holding Co has passed U.S. antitrust scrutiny, the companies said on Monday, allowing them to proceed with a combination they say will lead to lower costs by better coordinating pharmacy and medical benefits. Wall Street analysts had expected antitrust approval as the companies have little overlap in their businesses. The decision bodes well for the pending U.S. antitrust review of CVS Health Corp’s ( CVS.N ) proposed $69 billion acquisition of health insurer Aetna Inc ( AET.N ). The new company will marry Cigna’s business of managing health plans for corporations and the government with Express Scripts’ ( ESRX.O ) role handling pharmacy benefits for those same customers. Express Scripts also owns specialty pharmacies that distribute pricey drugs. “We are pleased that the Department
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