Aetna

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DOJ Approves CVS-Aetna Merger, But With Conditions

October 10, 2018 - 8:05 pm
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NEW YORK (WCBS 880/AP) -- The U.S. Department of Justice has approved the proposed $69 billion merger between CVS Health and Aetna – but with some conditions.

The Justice Department on Wednesday approved the deal on the condition that Aetna moves ahead with its plan to sell its Medicare Part D prescription drug plan business, resolving some anti-monopoly issues.

Aetna announced last month it'd sell the business for an undisclosed amount.

CVS announced plans to buy Hartford, Connecticut's Aetna late last year. The deal is expected to give the Woonsocket, Rhode Island, drugstore chain a bigger role in health care, with the companies combining to manage care through CVS stores, clinics and prescription drugs.

(© 2018 WCBS 880. The Associated Press contributed to this report.)