October 31, 2017 Comments Off on CVS in $66B Bid for Aetna Views: 1102 California News, Top California

CVS in $66B Bid for Aetna

CVS Health Corp. is negotiating to acquire Hartford, CT-based Aetna Inc. in a deal that could go for more than $66 billion. The proposed bid for the health insurer is for more than $200 per share, and would help buttress competition from Amazon.com Inc.

If the deal were to be consummated, the Woonsocket, R.I.-based drugstore giant would capture members for its pharmacy-benefit management group, as well as customers for its drugstores. That is expected to lend CVS better leverage with drugmakers, and the tie-in with a health insurer could help secure new deals for drug prices tied to patient outcomes.

CVS is seeking to gain inroads into healthcare, including services such as urgent care, and position itself to go after business with large employers. Amazon received approval last week for wholesale pharmacy licenses in several states.

Read more at Wall Street Journal

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