NEW YORK, Dec 17 (Reuters)—CVS Health Corp. and its Omnicare unit were sued on Tuesday by the U.S. government, which accused them of fraudulently billing Medicare and Medicaid for hundreds of thousands of drugs without valid prescriptions. The U.S. Department of Justice joined two whistleblower lawsuits accusing Omnicare of failing to obtain new prescriptions from…
CVS, Aetna Win U.S. Approval for $69 Billion Merger
WASHINGTON (Reuters)—Pharmacy chain CVS Health Corp won U.S. antitrust approval for its $69 billion acquisition of health insurer Aetna Inc, the Justice Department said on Wednesday, paving the way for a combination the companies say can help cut soaring U.S. healthcare costs. It is the second large recent healthcare deal to win a thumbs up…
Aetna, Seeking Antitrust Nod, Sells Medicare Drug Business to WellCare
(Reuters)—Health insurer Aetna Inc said on Thursday it will sell its standalone Medicare prescription drug plan business to WellCare Health Plans Inc as it seeks U.S. antitrust approval for a planned acquisition by CVS Health Corp. The $69 billion CVS-Aetna deal would be the second large deal this year between insurers and pharmacy benefit managers,…
AMA Opposes Merger of CVS & Aetna
WASHINGTON (Reuters)—the The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health Corp’s plan to buy insurance provider Aetna Inc, saying the deal could result in higher prices for prescription medicines. The AMA said that the $69 billion deal, announced in December, would lead to a…
CVS Rolls Out New Tool to Combat Rising Drug Prices
(Reuters)—Drugstore chain CVS Health Corp on Wednesday launched a new tool that will allow pharmacies help customers tackle the soaring cost of drugs by comparing prices of medicines. U.S. healthcare companies, ranging from insurers to drug retailers, are stepping up efforts to combat rising drug prices that has been widely criticized by regulators and has…
FDA’s Gottlieb Eyes PBM Consolidation Impact on Generic Entry: CNBC
NEW YORK (Reuters)—The head of the U.S. Food & Drug Administration Scott Gottlieb said on Wednesday that he was concerned about the impact of deals like the CVS Health purchase of Aetna Inc. on the ability of pharmaceutical companies to block the entry of cheaper copycat drugs. As the pharmacy benefit managers and the drug…
CVS Health to Acquire Aetna for $69 billion
(Reuters)—U.S. drugstore chain operator CVS Health Corp said on Sunday it had agreed to acquire U.S. health insurer Aetna Inc. for $69 billion, seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies. This year’s largest corporate acquisition will combine one of the nation’s largest pharmacy benefits managers (PBMs) and pharmacy operators with…
CVS to Pay $5 Million to Resolve U.S. Drug Probe
(Reuters)—CVS Health Corp. has paid $5 million to resolve allegations that pharmacies it operates in California failed to keep and maintain accurate records of prescription drugs, the U.S. Justice Department said on Tuesday. The deal follows an investigation that began in 2012 after the U.S. Drug Enforcement Administration noticed an increased number of thefts and unexplained…