Topic: pharmacy benefit management
After accusing Icahn of fighting the Express Scripts deal as part of a personal agenda, Cigna scored support from Institutional Shareholders Services.
PBMs have been historically secretive about rebate profits. This week, CVS and Express Scripts shed some light on their numbers.
The American Medical Association yesterday reiterated its opposition to the merger of CVS and insurance provider Aetna.
Hours after Carl Icahn criticized the deal, Cigna's board of directors called the activist investor's concerns "misguided and shortsighted."
The policy change will generate cost savings that MA plans can pass on to consumers, the agency says.
Icahn urged Cigna shareholders to block a deal that "may well become one of the worst blunders in corporate history."
Express Scripts, the country's largest pharmacy benefits manager, is challenging the rhetoric that paints PBMs as the villain in the rising cost of drugs.
California Commissioner Dave Jones said the merger would consolidate the Part D and PBM markets and hurt consumers.
Leaders of the House Energy and Commerce Committee want the FTC to conduct a retrospective review of mergers among the three biggest PBMs.
A recent analysis prepared on behalf of AHIP indicates that drug rebates have not been the primary driver of rising drug prices