DOJ has cleared the Cigna-Express Scripts deal

Cigna sign

Cigna sign

The U.S. Justice Department has flashed a green light for the proposed merger of Cigna and Express Scripts, just six months after the two companies announced plans to join forces. Specific Scripts also owns specialty pharmacies that distribute dear treatment.

Insurers, pharmacy-benefits managers and others in the health care supply chain have been making deals to streamline expenses and gain scale in an industry threatened by rising costs for medical services and new competition from the technology sector.

Cigna said it looked to buy a pharmacy benefit manager because the pharmacy benefit is used nearly twice as frequently as the next closest health care benefit and represents about 20 percent of employer-based insurance benefits.

"We are pleased that the Department of Justice has cleared our transaction and that we are another step closer to completing our merger and delivering greater affordability, choice and predictability to our customers and clients as a combined company", said David Cordani, Cigna's chief executive officer. CVS also manages drug-benefits plans for employers and insurers, a business that could help steer Aetna's customers into CVS drugstores when they fill prescriptions. The companies said they have also been cleared by departments of insurance in 16 states and are working with regulators in other states.

Champions League: Neymar to face Liverpool, confirms PSG's Tuchel
But Firmino danced inside and out, then stung a low drive past Alphonse Areola with two minutes of added time remaining. Jan Vertonghen of Tottenham Hotspur pokes Roberto Firmino of Liverpool in the eye as they battle for the ball.

Cigna, one of the US's largest health insurers, announced the deal in March, offering $48.75 per share in cash for Express Scripts. If the deal's closing conditions are met, the companies said that they expect the acquisition to close by the end of the year. As a result, he said, "it's a travesty to complete this deal". Antitrust consultants accept described those affords as vertical mixtures that repeat fewer components than the failed insurer mergers.

Cigna previously attempted to merge with rival insurer Anthem, but the Justice Department challenged the $54 billion deal for threatening to harm competition for the administrative services business of large employers. Cigna was up 1.4 percent to $197.84. The novel firm will marry Cigna's commercial of managing properly being plans for companies and the government with Specific Scripts' (ESRX.O) role going thru pharmacy advantages for those same prospects.

Express Scripts at the time was concerned about continuing as a standalone PBM when so many competitors were consolidating and new entrants like Amazon were rumored to be scoping out the healthcare market. Express Scripts shares surged 4% in Monday afternoon trade, and Cigna shares rose almost 2%, compared with a 0.5% slump in the S&P 500 and a 0.3% decline in the Dow Jones Industrial Average.

Recommended News

  • Marvel Unveils First 'Captain Marvel' Trailer Starring Brie Larson

    Marvel Unveils First 'Captain Marvel' Trailer Starring Brie Larson

    Set in the '90s, the film will feature younger versions of characters such as Nick Fury and Agent Coulson. Captain Marvel will be released in theaters on March 8, 2019.
    Vontae Davis: Buffalo Bills cornerback retires at half-time of National Football League  match

    Vontae Davis: Buffalo Bills cornerback retires at half-time of National Football League match

    It might be only two games into the National Football League season, but it's been a sorry affair for the Buffalo Bills already. But today on the field, reality hit me fast and hard: I shouldn't be out there anymore", he said in a statement.
    Man City's Arteta relaxed over missing out on Arsenal job

    Man City's Arteta relaxed over missing out on Arsenal job

    Let us know in the comments... "For sure, the city is still red and we will try to get a good result against the Blues". Guardiola handed media duties to Arteta ahead of Manchester City's Champions League opener against Lyon.
  • Maroon 5 Performing At 2019 Super Bowl

    Maroon 5 Performing At 2019 Super Bowl

    While nothing has yet been confirmed, US Weekly notes that the Super Bowl Halftime show has always been an ambition of Maroon 5 . Levine was a guest on Kanye West's "Heard 'Em Say" many years ago, so there's at least one great song that they could perform.
    Ryan Coogler to Produce LeBron James’ Space Jam Sequel

    Ryan Coogler to Produce LeBron James’ Space Jam Sequel

    Of course, James supplanting Jordan as the star of the new movie invariably adds to the debate over which of the two should be viewed as the greatest player of all-time.
    Audi unveils e-tron electric SUV: Range, features, pictures

    Audi unveils e-tron electric SUV: Range, features, pictures

    Amazon will deliver the hardware and hire electricians to install them through its Amazon Home Services operation. Last year, Tesla sold 94 percent of the luxury electric vehicles in the US , according to LMC Automotive.
  • Trump Visits Hurricane-Damaged North Carolina

    Trump Visits Hurricane-Damaged North Carolina

    Hurricane Florence has claimed 26 lives in North Carolina. "More than 1.6 million meals have been delivered to North Carolina". Trump is also praising first responders during his visit to a coastal marine base, the first of several stops on his schedule.
    Read the Letter From Christine Blasey Ford Requesting an FBI Investigation

    Read the Letter From Christine Blasey Ford Requesting an FBI Investigation

    She claims that an intoxicated Kavanaugh pinned her down during a party in Marlyand and attempted to remove her clothing. Scaramella hopes that when Ford testifies, "we can believe that people who are victimized have real harm done to them".
    Summit could be domestic win for S. Korean leader

    Summit could be domestic win for S. Korean leader

    The two Koreas agreed to begin construction to reconnect railways and roads linking the countries within this year. Kim pledged to visit the South Korean capital Seoul , in what would be a first for a North Korean leader.
  • Cathay Pacific spells own name wrong on side of plane

    Cathay Pacific spells own name wrong on side of plane

    Missing from the word "Pacific", per the BBC: the letter "f", which prompted "no one gives an f" jokes online. Cathay Pacific's seen the amusing side after painters spelled its name wrong on one of the fleet's Boeings.
    Middleton Police Respond To Reports of Active Shooter

    Middleton Police Respond To Reports of Active Shooter

    Three people have been shot inside the offices of WTS Paradigm in Middleton, Wisconsin. He says he then saw numerous people running away from the building in "full sprint".
    India bans instant divorce by Muslim men

    India bans instant divorce by Muslim men

    However, since the practice was still prevalent, the court had asked the government to bring a law against the practice. Women's rights activist Shabnam Hashmi said criminalising triple talaq was aimed at polarising people.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.