A PYMNTS Company

US: DOJ Oks Cigna/Express Scripts $52b merger

By  |  September 17, 2018
US: DOJ Oks Cigna/Express Scripts $52b merger

The US Justice Department’s (DOJ) Antitrust Division on Monday, September 17, gave its approval to the US$52 billion deal merging Express Scripts with Cigna.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “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,” Cigna CEO and President David Cordani said in a media release.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Shareholders voted to approve the merger last month, despite early opposition from activist investor Carl Icahn, who wrote an open letter urging shareholders to reject the deal.He later changed his opinion on the merger. The Justice Department antitrust division said it looked at Cigna’s current PBM services provider, OptumRx, which is owned by UnitedHealth Group. ”

    The DOJ Antitrust Division stated it looked at Cigna’s current pharmacy benefit manager (PBM) services provider, OptumRx, which is owned by UnitedHealth Group. “The (DOJ antitrust) Division understands that Cigna intends to use (Express Scripts) for PBM services and that Cigna’s current PBM services provider, UnitedHealthcare’s subsidiary Optum, will be free to compete for PBM customers that purchase medical insurance from Cigna upon closing of the transaction,” The Justice Department announced in a statement Monday.

    Full Content: CNBC
    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.