CVS' bid for Aetna is a US$66b bet on cutting drug costs
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New York
THE proposed merger between US pharmacy operator CVS Health Corp and No 3 health insurer Aetna Inc represents a US$66 billion bet that insurers can drive down high US drug prices by cutting out the middleman.
The move is the most expensive effort to date that would enable a national health insurer to take back full control of prescription medicines for their customers by negotiating prices with pharmaceutical manufacturers and setting customer out-of-pocket costs for each drug.
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