The Department of Justice will allow the $69 billion CVS-Aetna deal to proceed if the sale to WellCare is completed.
The Department of Justice said it is requiring CVS and Aetna to divest Aetna’s Medicare Part D prescription drug plan business for individuals in order to proceed with their merger. The sale will appease the DOJ’s concerns of anticompetitive effects due to CVS already having its own Medicare Part D prescription drug plans under the “SilverScript” brand.
CVS runs the country’s largest retail pharmacy chain and provides prescription plans to more than 94 million customers. Joining forces with the nation’s third-largest health-insurance provider will solidify CVS’s grip on the market.
Read the DOJ press release