Aetna will sell its Medicare Part D prescription-drug business to WellCare Health Plans, a move expected to pave the way for federal approval of its $69 billion merger with CVS Health.
The Department of Justice had raised competitive concerns over Aetna’s Medicare drug business, which covered roughly 2.2 million people at the end of June, according to a federal filing from the insurer. The price of the deal with WellCare, expected to conclude by year’s end if the government signs off the CVS transaction, wasn’t disclosed.
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