By Shelby Livingston | October
10, 2018
Federal antitrust regulators will require CVS Health and Aetna to
divest Aetna's Medicare prescription drug plan business before moving ahead
with the companies' planned $69 billion merger.
The divestiture would alleviate the U.S. Justice Department's concerns that the merger would reduce competition, it said Wednesday. The regulators said WellCare Health Plans will buy Aetna's Medicare Part D business.
"Today's settlement resolves competition concerns posed by this transaction and preserves competition in the sale of Medicare Part D prescription drug plans for individuals," Assistant Attorney General Makan Delrahim, who leads the Justice Department's antitrust division, said in the announcement. "The divestitures required here allow for the creation of an integrated pharmacy and health benefits company that has the potential to generate benefits by improving the quality and lowering the costs of the healthcare services that American consumers can obtain."
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The divestiture would alleviate the U.S. Justice Department's concerns that the merger would reduce competition, it said Wednesday. The regulators said WellCare Health Plans will buy Aetna's Medicare Part D business.
"Today's settlement resolves competition concerns posed by this transaction and preserves competition in the sale of Medicare Part D prescription drug plans for individuals," Assistant Attorney General Makan Delrahim, who leads the Justice Department's antitrust division, said in the announcement. "The divestitures required here allow for the creation of an integrated pharmacy and health benefits company that has the potential to generate benefits by improving the quality and lowering the costs of the healthcare services that American consumers can obtain."
Story developing...
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