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PBM Market Competition Will Remain 'Robust' After CVS-Aetna Merger, House Panel Told

 
• By Cathy Kelly

CVS General Counsel Thomas Moriarty maintained merger will not involve consolidation of PBM market share.

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Competition in the pharmacy benefit management industry will not diminish as a result of the combination of the CVS Health Corp. PBM operation with national insurer Aetna Inc., CVSChief Policy and External Affairs Officer and General Counsel Thomas Moriarty told the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law Feb. 27.

"I don’t see how this merger impacts competition in the PBM space," Moriarty maintained in testimony on CVS' proposed acquisition of Aetna. "We have anywhere from eight to 15 substantial players in the PBM market. We see a robust competitive environment in that regard." CVS' $69bn proposed acquisition of Aetna was announced in December

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