Aetna/Coventry $15B Pharmacy Spend Will Be Managed By Different PBMs Near Term
Following Aetna’s acquisition of Coventry Health Care, Express Scripts will handle pharmacy benefits for Coventry’s Medicare business through 2015 and its commercial insurance business through 2016, while Aetna has a long-term agreement with CVS Caremark through 2023.
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Aetna’s acquisition of Coventry Health Care will bring the health insurer’s Part D prescription drug plan membership to 2 million and its Medicaid managed care membership to 2 million.
Aetna's new 12-year contract to merge some of its internal pharmacy benefit management operations with CVS Caremark appears to take Aetna's in-house PBM out of play as a potential acquisition target
With the acquisition of the largest plan-owned pharmacy benefit manager, Express Scripts will move to second place among the big stand-alone PBMs, ahead of CVS Caremark.