In his letter to House Energy and Commerce Committee Chairman Greg Walden, R-Ore., Mr. Pallone urges the committee to schedule a hearing to assess proposed M&A deals, specifically Woonsocket, R.I.-based CVS Health’s proposed $69 billion acquisition of Aetna and Cigna’s proposed acquisition of Express Scripts for $67 billion.
While other insurers like UnitedHealth Group have acquired or absorbed pharmacy benefit manager operations in the past, Mr. Pallone, a ranking member of the HECC, argues the proposed Cigna-Express Scripts merger “is likely the largest,” with Express Scripts providing drug plans for more than 80 million Americans. The scale of the proposed deal warrants some scrutiny by elected officials, Mr. Pallone argues.
“The committee has an ongoing responsibility to evaluate and consider these changes to our healthcare system, so as to better understand the impact of these changes on consumers, patients and providers. Due to the scale of the proposed Cigna-Express Scripts and CVS-Aetna deals, these changes should be thoroughly scrutinized and understood by the members of this committee,” Mr. Pallone writes.
To access the full letter, click here.
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