News
Cigna to Purchase Express Scripts
Posted 03.12.18
Health insurer Cigna announced that it would purchase Express Scripts, a pharmacy benefits manager (PBM), for $67 billion in cash and stock, including $15 billion assumed for Express Scripts’ debt.
This announcement is the latest in a trend of merging health care companies and follows the December 2017 announcement of the Aetna -CVS Health merger.
The companies stated that the deal will save $600 million in administrative efficiencies, allow them to cut costs as they better coordinate pharmacy and medical claims, and could also increase their leverage in price negotiations with drugmakers.
Refer to the attached news brief for additional information, and contact your NEEBCo representative with questions.