Cigna-Express Scripts clears final state approval, set to close on Thursday

merger and acquisition
Cigna-Express Scripts has cleared all necessary state approvals. (istocksdaily)

Cigna and Express Scripts have received approval from the last state necessary to complete their $67 billion merger, setting the stage for the deal to close on Thursday. 

In a financial filing, Cigna said it received final approval from New Jersey regulators on Tuesday. 

"All required regulatory approvals now have been received and the parties expect to close the transaction on December 20, 2018, subject to the satisfaction of all other closing conditions," the company stated.

Conference

2019 Drug Pricing and Reimbursement Stakeholder Summit

Given federal and state pricing requirements arising, press releases from industry leading pharma companies, and the new Drug Transparency Act, it is important to stay ahead of news headlines and anticipated requirements in order to hit company profit targets, maintain value to patients and promote strong, multi-beneficial relationships with manufacturers, providers, payers, and all other stakeholders within the pricing landscape. This conference will provide a platform to encourage a dialogue among such stakeholders in the pricing and reimbursement space so that they can receive a current state of the union regarding regulatory changes while providing actionable insights in anticipation of the future.

RELATED: With merger vote approaching, Cigna and Express Scripts diverge on value-based contracts

Cigna and Express Scripts secured approvals from New York and California last week with promises to invest $60 million into California's healthcare system and assurances that it would not raise premiums to pay for the costs of the deal. 

The companies won approval from the Department of Justice in September. 

With the deal poised to close, the combination of Cigna and Express Scripts marks the second vertical megamerger to finalize this year. CVS closed it's $69 billion acquisition of Aetna earlier this month, although the companies are still ironing out approval from a D.C. district court judge

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