Pharmacy benefits manager Express Scripts and health insurer Cigna have received final regulatory approval for their multibillion-dollar merger. The two companies received approval from the State of New Jersey on Tuesday, according to an SEC filing published Wednesday.
The two companies expect to close the transaction on Thursday. On March 8, Cigna Corporation entered into a plan to merge with St. Louis County-based Express Scripts.
Express Scripts, whose annual revenue exceeds $100 billion, said it plans to keep its operation in north St. Louis County, according to the St. Louis Post-Dispatch. The company is one of the largest pharmacy benefit managers in the country, and it has more than 4,000 employees in the St. Louis area and more than 26,000 companywide.
Cigna is based in Bloomfield, Connecticut. It has more than 45,000 employees worldwide and $41.6 billion in revenues, according to its 2017 factbook.