CVS/Aetna Deal Faces Challenge of Appeasing Current PBM Clients
Big, revolutionary, vertical deals to change structure of health industry are dramatic but tough to pull off. Will CVS PBM customers worry about funding a competitor?
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Divestiture prevents CVS from gaining even more dominance in the stand-alone Medicare Part D sector with its acquisition of Aetna, assuming the transaction is cleared by the government.
Merger could restore number of covered lives PBM will lose once its contract with Anthem expires, but there is also risk of alienating current health plan clients who don't want to contract with a competitor.
CVS General Counsel Thomas Moriarty maintained merger will not involve consolidation of PBM market share.