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Joseph Swedish

CVS makes moves to strengthen PBM business

CVS makes moves to strengthen PBM business

WOONSOCKET, R.I. — CVS Health has announced two major agreements to boost pharmacy benefit management ­services. The company late last month introduced a 30,000-store performance-based pharmacy network anchored by CVS Pharmacy and Walgreens designed to deliver savings and improved clinical outcomes for CVS Caremark PBM members. That followed the company’s announcement of a five-year deal

Aetna, Humana terminate $37 billion merger

Aetna, Humana terminate $37 billion merger

HARTFORD, Conn., and LOUISVILLE, Ky. — After being blocked by a federal court, Aetna Inc. and Humana Inc. have decided to terminate their $37 billion merger deal. The health insurance giants said Tuesday that, with the move, Aetna will pay Humana a $1 billion breakup fee. Aetna said it also has ended its agreement to

Consolidation hits health insurance industry

NEW YORK — Chain drug retailers have gotten used to dealing with fewer, and larger, drug makers, wholesalers and pharmacy benefit managers over the years. Retailers themselves have also consolidated, and now a merger wave has washed over the health insurance industry. While acquisitions in other sectors have been driven by the pursuit of economies