Cigna and Express Scripts still must secure certain state regulatory approvals to complete the deal, but the nod from the federal antitrust enforcers takes care of the biggest hurdle.
Blue Cross Blue Shield of Michigan has approved a plan to contract with St. Louis-based Express Scripts for its retail commercial business in Michigan. The contract is effective Jan. 1.
Cigna's $67 billion acquisition of pharmacy benefit manager Express Scripts must still clear state and federal regulatory hurdles.
Activist investor Carl Icahn will no longer urge stockholders to vote down the proposed merger between Cigna Corp. and Express Scripts after two independent advisory firms recommended voters approve the deal.
Billionaire activist investor Carl Icahn is urging stockholders to vote against the pending $67 billion merger of Cigna Corp. and Express Scripts, arguing the nation's largest PBM faces mounting regulatory threats.
David Cordani doesn't view Cigna as merely a health insurer. The Bloomfield, Conn.-based company, he said, is in the business of delivering "health services." The proposed $54 billion purchase of Express Scripts falls in line with that, he argued.
A new filing with the Securities and Exchange Commission shows why Cigna and Express Scripts decided to join forces in the wake of their breakups with health insurer Anthem.
The latest announced mega-merger, between Cigna and Express Scripts, should put Congress on alert, the top Democrat on the House Energy and Commerce Committee said. Rep. Frank Pallone is calling for an oversight hearing.
The $67 billion merger would allow Cigna to lower its costs by insourcing PBM services, and absorb the profits of the biggest stand-alone PBM at a time when its competitors are also pairing up with providers of pharmacy services.
Supply chain experts are skeptical the $67 billion Cigna Corp.-Express Scripts deal will do much to transform the healthcare industry, let alone deliver any significant savings to customers.
The nation's largest pharmacy benefit manager Express Scripts said its CFO Eric Slusser is leaving the company. James Havel, an executive vice president, is taking his place.
The American Medical Association says doctors and their patients, not pharmacy benefit managers, should determine opioid treatment plans, criticizing Express Scripts' plan to limit the number and strength of opioid drugs prescribed to first-time users.