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(Bloomberg) Cigna Corp. rejected Anthem Inc.s $47 billion takeover bid, saying it was inadequate and not in the best interests of shareholders.
Anthem on Saturday offered to buy the smaller health insurer in what would be the biggest takeover ever in a U.S. industry on the verge of a consolidation wave much like drugmakers have been experiencing. Insurers such as Anthem are searching for ways to cut costs and keep expanding profits amid a surge in enrollment from the Affordable Care Act.
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The plan to eventually phase out rebates portends a seismic shift in the flow of billions of dollars among drugmakers, insurers and employers.
President Donald Trump framed the new six-figure fee as part of his effort to protect American jobs and national security.
With rising healthcare costs putting pressure on both employers and employees, the challenge is clear:
New York is setting new rules to rein in prescription drug middlemen — including CVS Health and UnitedHealth Group.
The incoming administration will bring multiple changes to existing legislation and leadership in the technology sector.
