Cigna purchase of Express Scripts to face Justice Department review

Cigna confirmed that its planned purchase of Express Scripts faces review by the U.S. Department of Justice, which has increased scrutiny of deals between companies that aren’t direct competitors.

The Connecticut-based health insurer issued its first public statement about the review late Wednesday.

This makes Cigna’s $54 billion offer for Express Scripts, the St. Louis County-based pharmacy benefits manager, one of two health care deals under Justice Department review. CVS Health’s proposed $68 billion buyout of Aetna also is being examined.

The department recently has balked at so-called vertical deals between companies that occupy adjacent areas of the same industry. In health care, it sued to prevent Aetna from buying Humana and to keep Anthem from acquiring Cigna.

Still, Cigna said it’s “optimistic in our ability to obtain regulatory approval.”

Read more: Bloomberg


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