While the deal was approved by the U.S. Justice Department in September, the two companies still needed key state insurance agencies to sign off. On Dec. 18, Cigna and Express Scripts got final approval from New Jersey, paving the way for the deal to be finalized.
The health insurer initially announced plans in March to buy Express Scripts for $67 billion in cash and stock, including assumption of $15 billion in Express Scripts debt.
The deal creates a new healthcare giant by combining a health insurer with a company that manages prescription drug benefits and negotiates drug prices for 85 million people.
More articles on payer issues:
Cigna-Express Scripts deal clears regulatory hurdles in California, New York
Aetna, Oscar fined in violation of insurance laws
Tenet, Cigna dispute heats up ahead of contract deadline
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
