CVS Health Corp. made big moves in 2017 to further expand its footprint. The company fully integrated its acquisition of Omnicare and the pharmacies and clinics of Target while focusing on managing rising drug costs. Reports of a potential $68 billion deal to buy health insurer Aetna Inc began swirling in late 2017 that CVS later confirmed. The acquisition will create a healthcare behemoth with $240 billion in annual revenue across sectors including retail pharmacy, benefit management, and insurance.
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The companies had argued over pricing.
Walmart was demanding higher reimbursements for its in-store pharmacies.
CVS is already beginning to change its business structure in a post-Aetna deal world.
The move comes as a bipartisan bill to crack down on the tactics drugmakers use.