“I can stop the deal if it is reasonably necessary to protect New Yorkers.”
Superintendent Maria Vullo of the New York State Department of Financial Services
During a public hearing in New York City on Thursday, October 18, 2018, New York State regulators, including Superintendent Maria Vullo of the New York State Department of Financial Services (“DFS”), threatened to block CVS Health’s $69 billion merger with health insurer Aetna if (i) CVS would not agree to hold the line on rising insurance premiums for Aetna’s member population in New York State (approximately 1.1 million New Yorkers across the State); and/or (ii) CVS Health refused to submit its CVS/Caremark pharmacy benefits manager (“PBM”) business to State regulation.
Continue Reading WHAT SAY YOU, NEW YORK? Now that Federal Antitrust Regulators Have Approved CVS’s Proposed Acquisition of Aetna, Attention Turns to New York State