Cigna to spend about $52B for Express Scripts

  • FILE - In this July 25, 2017, file photo, Express Scripts prescription medication bottles are arranged for a photo in Surfside, Fla. Health insurer Cigna will spend about 52 billion to acquire the pharmacy benefits manager Express Scripts, announced on Thursday, the latest in a string of proposed buyouts and tie-ups in a rapidly shifting landscape for the health services industry. AP File Photo

Associated Press
Tuesday, March 13, 2018

The insurer Cigna will spend about $52 billion to acquire the nation’s biggest pharmacy benefit manager, Express Scripts, the latest in a string of proposed tie-ups as health care’s bill payers attempt to get a grip on rising costs.

Including $15 billion in debt, the proposed $67 billion acquisition follows a deal announced late last year in which the drugstore chain CVS Corp. said it will spend around $69 billion on the insurer Aetna Inc.

Insurers and pharmacy benefit managers — which run drug plans for insurers and employer-based plans — have struggled to corral spiraling costs and the industry that was jolted by the Affordable Care Act, which reshaped the individual insurance market and expanded the state- and federally funded Medicaid program.

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