August 30, 2018

14 of 29 states OK Cigna-Express Scripts merger

HBJ File Photo
HBJ File Photo
Cigna headquarters in Bloomfield.

Bloomfield health insurer Cigna said it recently cleared another regulatory millstone for its proposed $67 billion purchase of pharmacy benefits manager Express Scripts.

Cigna said 14 of 29 states have approved its Express Scripts buyout, almost a week after 90 percent of its shareholders greenlit the deal, according to a regulatory filing with the Securities & Exchange Commission (SEC).

Cigna did not specify which states signed off on the deal or the states needed to close the transaction.

The U.S. Justice Department, which sued to block the $37 billion Aetna-Humana merger and a proposed acquisition between Anthem and Cigna in July 2016, is expected to complete its antitrust review of the proposed deal later this year.

Cigna has said it expects the purchase to be completed by year-end.

Read more

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