Aetna Internal PBM No Longer In Play With CVS Caremark Contract
Executive SummaryAetna's new 12-year contract to merge some of its internal pharmacy benefit management operations with CVS Caremark appears to take Aetna's in-house PBM out of play as a potential acquisition target
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CVS General Counsel Thomas Moriarty maintained merger will not involve consolidation of PBM market share.
The insurer is considering strategic options for its internal PBM, which manages more than 300 million drug claims for more than 9 million individuals, mainly in the Medicare space.
Under the 10-year contract, Catamaran will bring its “leading technology and service platform” to enhance operations of Cigna’s internal PBM. The deal is also expected to bolster Cigna’s drug purchasing power and help lower costs.