By Sy Mukherjee
June 4, 2019

Good afternoon, readers.

The corporate marriage between CVS and Aetna was one of the most significant health care transactions of the past few years. But here’s the thing – it’s not, on the most technical level, done done. Or at the very least, there’s still a notable detractor hanging out there.

The retail pharmacy chain and insurance giant won the feds’ blessings for their mammoth merger last year. However, Judge Richard Leon of the U.S. District Court for the District of Columbia has become something of a gadfly for the firms. And he’s still sticking around to question the merits and potential antitrust concerns raised by the M&A.

Specifically, Leon is questioning the deal’s possible effect on competition in the Medicare Part D prescription drug program. There will be three days of testimony related to the issue in federal court.

This is, to put it lightly, a bit of an awkward situation for all involved, especially since CVS and Aetna have already begun behaving like a merged company (and one with Department of Justice blessings). But it ain’t over till the cloaked judge sings.

Read on for the day’s news.

Sy Mukherjee


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