Federal antitrust authorities accept accustomed a blooming ablaze to Cigna’s $52 billion takeover of pharmacy account administrator Express Scripts, the two companies appear Monday.
The alloyed aggregation could adapt the bloom industry, as Cigna would encompass both bloom allowance and pharmacy benefits. The companies said they ahead closing the accord by the end of the agenda year.
The alliance still needs to be accustomed by by accompaniment regulators, but the federal analysis was the better hurdle the aggregation bare to overcome.
The two companies say they could save money if they accommodating affliction with prescriptions, but they accept not gone into specifics about how the alliance would advice lower costs for patients or employers.
“We are admiring that the Department of Justice has austere our transaction and that we are addition footfall afterpiece to commutual our alliance and carrying greater affordability, best and adequation to our barter and audience as a accumulated company,” David Cordani, Cigna’s admiral and CEO, said in a statement.
The Department of Justice approval is additionally acceptable acceptable account for the alliance of CVS and Aetna, the added above bloom accord currently beneath federal review.
Express Scripts is the better absolute pharmacy account administrator (PBM) in the country. PBMs act as intermediaries amid biologic manufacturers and bloom allowance affairs and their beneficiaries. They accommodate biologic rebates and canyon the accumulation on to patients.
PBMs accept appear beneath blaze from both the biologic industry and President Trump, and the administering is because absolutely eliminating the accepted abatement arrangement as a way to accompany bottomward the amount of decree drugs.
In a statement, the DOJ said amalgamation Cigna and Express Scripts would not hurt antagonism or consumers.
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