CVS Health To Buy Aetna In $69 Billion Deal

The Washington Post reports:

Pharmacy giant CVS Health has agreed to buy Aetna in a $69 billion blockbuster acquisition that could rein in health care costs and transform its 9,700 pharmacy storefronts into community medical hubs for primary care and basic procedures, people familiar with the deal said Sunday.

The pharmacy chain agreed to buy Aetna for about $207 per share, broken down into $145 in cash and the rest in stock, according to those sources. The deal is expected to close in the second half of 2018, subject to approval by shareholders and regulators.

If approved, the mega-merger would create a giant health care company, allowing CVS to provide a broad range of health services to Aetna’s 22 million medical members at its nationwide network of pharmacies and walk-in clinics, and further decrease the drug store titan’s reliance on the retail sales that have faced increasing competition.

  • Sporkfighter

    It’s unclear to me why lower costs delivering health care will lead to lower costs prices rather than higher profits.

    • jmax

      The first responsibility is to the shareholders, not the customers. I’m guessing costs will not drop.

    • S1AMER

      Same old premium/copay $ – cheaper drugs, less care = Higher profits.

    • David Walker

      Because it sounds good?

    • Statistics Palin

      Lower wholesale drug costs could make it easier for cvs to engage in predatory pricing to drive other pharmacies in small towns out of business only to raise costs to the consumer even higher afterward. Yes, I have an MBA as well as a math Ph.D.

      • Sporkfighter

        Hence the need for something like a “public utility commission” to set fair prices in a “natural monopoly” and strong, enforced anti-trust laws in other industries. Personally, I’d do Medicare for everyone and be done with the swarm of vultures.

        • Tor

          Commie….

          • Sporkfighter

            Naw, just a socialist.

      • thatotherjean

        Hey, it worked for Walmart.

  • Jonty Coppersmith

    No CVS for me as some of their stores were at least at one time refusing to fill scripts for the morning after pills.

  • S1AMER

    We’re moving closer and closer to the day when the drug/insurance companies control you and your doctor. And what could possibly go wrong with that?

  • netxtown

    Yep – that’s what we need: an insurance company on every corner. /s

    I always shop 7-11 for their low, low prices…. /s

  • Treant

    That…at least in modest measure…isn’t a bad idea and might work to benefit a few people.

    So it won’t be approved.

  • Joe in PA

    Next up, Merck Pharmaceuticals buys CVS.

    • Judas Peckerwood

      ExxonMobilMerckCVS

      • Joe in PA

        I mean really…what could go wrong?

      • Chaz Antonelli

        AT&TeXXonMobileTimeWarnerMerckCVS (AEMTWMC)

    • Tomcat

      ATT will own it all soon enough, just watch.

  • liondon#iamnotatraitor

    Amazon is entering the prescription business soon. They have to have other revenue streams.

    • netxtown

      Contrary to popular belief – Amazon is far from being low pricing. Sure, you can save on shipping with Prime – but pay out the ass for everything from a toothbrush to muffin mix.

      • Tomcat

        That is the problem, people that would buy either of those from Amazon instead of a brick and mortar store.

        • thatotherjean

          It’s easy enough to understand why. People would, mostly, rather stay home and click on a computer mouse than wrangle the kids into coats and carseats, then drag them into a store, keep their little hands off the toys and candy, keep them from screaming, buy stuff, drag the kids out of the store, etc.

          Older folks don’t want to brave bad weather, drive in the dark, deal with the aforementioned kids and their parents, wait in line, and so on. The extra money, in both cases, is often worth not facing the hassle of brick-and-mortar shopping.

          • Sporkfighter

            I have family in Thompson Falls, Montana. It’s the county seat, and is the proud home of the only traffic light in the county. Just kidding…there is no traffic light in the county. Is it cheaper to drive two hours into Missoula to Walmart than order on Amazon?

            I have a daughter at college. She lives on campus and doesn’t have a car. Is taking a bus across town and losing two hours that could be spent studying cheaper than ordering on Amazon?

            United Airlines broke the screen on my laptop. If I didn’t order a replacement on Amazon, exactly where would I buy it locally?

  • Lazycrockett
    • netxtown

      In the meantime, Seal Team 6 is attempting to dislodge Grassley’s very first dime from his ass.

      • RKitty01

        shove some coal up there; we can always use the diamonds

    • HaHaHa

      I spend around $400/mo on bourbon, I prefer the good stuff. Not sure what’s wrong with that, I support poor people in Kentucky πŸ˜‰

    • greenmanTN

      What I have to say about this violates JMG commenting rules.

      • netxtown

        I was gonna say I’d really like to wrap a piano wire around his nasty dick – and then hammer out a ragtime medley….

        • Todd20036

          There’s porn like that.

          • netxtown

            That was porn? I thought it was just another night of Jo Ann Castle on Lawrence Welk…

    • Tomcat

      Guys like him spend their tax cuts on the best hookers, foreign vacations and secret abortions for his underage girls.

      • peacfulseas inWA

        Please, all those things are provided by his high dollar donors. I can’t picture anyone needed an abortion due to intimate relationship with THAT.

    • Ninja0980

      In other words, fuck the working poor.

      • Tunamelt

        When your entire tax cut amounts to less than $10 about all you can get with it is a drink or (maybe) catch a movie.

        • Nellie

          Google is paying 97$ per hour,with weekly payouts.You can also avail this.
          On tuesday I got a great new Land Rover Range Rover from having earned $11752 this last four weeks..with-out any doubt it’s the most-comfortable job I have ever done .. It sounds unbelievable but you wont forgive yourself if you don’t check it
          !da48:
          ➽➽
          ➽➽;➽➽ http://GoogleInternetComunityTechnologyWorkFromHome/online/easytasks β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«β˜…β˜…βœ«β˜…βœ«:::::!da48luuuuu

    • BearEyes

      Mine goes into a retirement fund since pensions no longer exist – thanks, Chuck.

      • netxtown

        not true…I get mine every month!

        • BearEyes

          lucky you. the company I work for ended their pension plan years more than a couple decades ago when tax law changed making it easier to abandon pensions.

          • netxtown

            I got in on the company’s pension plan by 2 days. Hired Sept 29….and new participants ended on Oct 1. And, what i love the most, they laid me off – and the pension plan stipulates that the company has to add an additional full year of service to my numbers. I was doing the Snoopy dance for days on end!

          • Todd20036

            Yup, there are pension plans like that, but there may be a maximum amount of service you can add on. Check the plan document.

          • netxtown

            they laid me off a few years back. I’m still smiling and dancing….right off into the sunset! πŸ™‚

          • RKitty01

            are you single? are you old and/or ready to kick off? just asking πŸ˜‰

          • netxtown

            yes…and whether I am alive or dead….the pension keeps on paying for the next 8 years. Did that help? πŸ™‚

          • RKitty01

            do you like cats? LOL

          • netxtown

            oh no….we’ve hit an issue. I’m allergic to ’em – eyes will swell shut. So I have to stick with the doggies. Even then – I ain’t into lap dogs. No ankle biters or yappers. I like something that can chew up some invasive bones and spit ’em back over the fence. Shepherds, Labs…even big ol mutts. πŸ™‚

          • RKitty01

            that’s why they make benadryl

          • netxtown

            benadryl, too? Hell i’m already on prescription zyrtec.

            this will work out really good. I need help with my toenails from time to time…. πŸ™‚

          • RKitty01

            I’ll drive you to and from the manicurist for your mani/pedi

          • netxtown

            well, so much for love by internet.
            you know, I’d do it for you. I swear i would. Trust me….. πŸ™‚

          • RKitty01

            no one goes near my feet; I have ugly feet

    • jerry

      These are old numbers, from the time of W’s tax cuts, but every $ of tax cuts to the poor and middle class generates around $1.25 to $1.50 in economic activity…not enough to pay for themselves. Every $ in tax cuts to the wealthy generates around $0.25 to $0.40 in economic activity. Every $ spent on infrastructure improvements generates $4. to $5.

      • J Ascher

        Republicans haven’t been good at math or business for decades.

    • Treant

      Grassley’s “working class” people just lapped that up because they see themselves as upper class or going to be rich…someday.

      Grassley should also be aware that spending one’s tax cuts on booze, women (men), or movies is a boost to the economy. Sending it to your Swiss bank account is not.

    • radiofreerome

      Movies? Oh, the humanity!

    • JT

      OMG. What a fucking asshole.

    • Damnation! What a hideous being he is, and has clearly never had a day of want in his life. Marie “let them eat cake” Grassley is completely disconnected from the life of the average American.

    • Acronym Jim

      How dare the filthy peasants drink or date or go to a movie.

      • thatotherjean

        Ol’ Chuck should be deprived of booze, movies, and female company for the rest of his life, and see how he likes it.

    • JWC

      so outta fuckin out of touch with reality Utterly irresponsible

    • Sporkfighter

      Money spent in a bar supports a bartender. Money spent on women . . . wait, did he really say that?

    • McSwagg

      Nothing new here. This is just the latest version of blaming poor folk and young-uns for chasing after “wine, women, and song” or “sex, drugs, and rock-n-roll” …

      • thatotherjean

        By elderly curmudgeons who can’t do any of that, any more.

      • Tor

        Wealthy people just buy more booze and more women.

  • Lawerence Collins
    • Tomcat

      The GOOD things are for the rich only!

    • Chaz Antonelli

      You can go bankrupt for medical debt — but not for student debt.

  • Lori

    “…that could rein in health care cost”

    It could. And monkeys could fly out of my butt, but it’s not likely.

    • Keith Crist

      A new twist on releasing the flying monkeys!

    • Todd20036

      Not likely, but if that ever happens, you’ll be set for life

    • Sporkfighter

      In that race, I’d bet on the monkeys to win and the lower prices to show.

  • Tomcat

    No more paying taxes for me, it is now against my religion.

  • Henry Auvil

    Dang. If I’d only waited two years to develop my aggressive squamous carcinoma, I could have just gone down to the drugstore for my surgery instead of wasting all those weeks in intensive care and radiation.

    • netxtown

      Meat slicers are much cheaper than an entire OR…. just sayin…..

  • bkmn

    This is why it is a fight to get universal health care in the US

    • Tor

      I agree. If this becomes commonplace, universal healthcare will become impossible.

  • MUELLER KNOWS

    When old phuks like this guy die off the world will be a better place.

  • Jean-Marc in Canada

    Wait…what….how is this not a conflict of interest issue? This is consolidation of big pharma on a new scale. But hey, it’s only American’s health, so what does it matter, right? /s

  • alguien

    wtf? we’ll be able to have our health needs addressed AND buy a can of pringles at the same time?

    • Lumpy Gaga

      How much are those Pringles worth to you? An extra $20 co-pay??

    • BobSF_94117

      Yes, but there’ll be a Sales Associate standing at the Pringles display swatting away your hand.

  • Paula

    I am not surprised. My insurance is Aetna, they just recently switched our prescription benefits over to CVS/Caremark.

    • KevInPDX

      Blue Cross/Blue Shield switched to CVS for their mail order pharmacy. Very inexpensive if you can wait or plan ahead.

      • Todd20036

        Indeed. My HIV meds cost me $80 for 3 months.

        • Sporkfighter

          Only $80 a month buys you a long, productive and generally healthy life. Sounds like a good deal, and it is. But if you don’t have health insurance to cover the medical visits and the meds, you can’t pay out-of-pocket prices, and you just die.

          Nobody should die because they don’t have they don’t have insurance.. We should all be paying taxes, and we should all get medical coverage.

        • KevInPDX

          Yes, PrEP/Truvada for $80/90 day treatment= $0.89 a day.

          Now if only they would get the price of Cialis to drop lol. You can get a prescription for Sildelafin (active ingredient in Viagra) for $0.54 each and they do the trick but mess with your BP/makes ya dizzy.

    • Jmdintpa

      me to

  • Cuberly Deux

    Does anyone have an example of corporate monopolistic consolidation where pricing went down for the consumer? I can’t think of a single one.

    • FelineMama

      When CVS took over Long’s & Sav-On’s, I’ didn’t see prices going down. Now, you have same pharmacy co., CVS., buying a major ins. co. (aetna) OKEY DOKIE!. Can we say MONOPOLY. Let’s us see what happens.

      • Cuberly Deux

        The minute any “biz” merger article includes phrases like, lower costs, expansion of services, help us innovate…blah blah blah….cover your wallet.

  • carrot festival

    Sold my soul to the company store…

  • Chaz Antonelli

    “Too big to fail!”

  • Bluto
  • Dubito et cogitare

    I think CVS may be shortsighted in doing this. If I’m United Health, Blue Cross/Blue Shield et al, why would I not yank my prescription benefits from CVS Caremark pronto?

  • sword

    All corporations should merge!!!! Prices will drop so low that the company will pay you to take items.

    • andrew

      LOL.

  • andrew

    I think we need a Teddy Roosevelt to come along and break up all these huge monopolies. Bigger ain’t better.

  • 2guysnamedjoe

    I never knew CVS had walk-in clinics. The only medical service they provide around here (NYC) is flu shots.
    Somehow, I wouldn’t feel right seeking medical care at the same place I buy Hallowe’en candy.

    • Tor

      Welcome to the brave new world.

  • leastyebejudged

    We dumped CVS when they almost killed my husband by fucking up a prescription, and this year all his prescriptions went up 200%.

    Fuck CVS.