Cigna Wins Approval to Exit Anthem Deal
A Delaware judge has ruled that Cigna can walk away from its merger with Anthem after the courts blocked the merger for being anticompetitive. Bloomberg reported that the breakup of the $48 billion merger means Anthem could have to pay $1.85 billion in breakup fees to Cigna. In addition, Cigna is suing for $13 billion in damages. However, the judge said there is evidence Cigna may have dragged its feet making it unlikely it will win the lawsuit.
Kaiser Permanente to Remain in ACA Markets
While some insurers are fleeing the Affordable Care Act (ACA) exchanges, Kaiser Permanente will stay in the marketplace in 2018. During the Wall Street Journal Future of Healthcare event, CEO Bernard Tyson pledged to stick with the markets and rejected Aetna’s claim that the markets were in a death spiral. Kaiser Permanente currently operates health plans in exchanges in 8 states and the District of Columbia.
North Carolina Warns Against Counterfeit Drugs
A new campaign in North Carolina is warning residents about online pharmacies that could be selling counterfeit prescription drugs. Consumers can check the legitimacy of an online pharmacy through VerifyBeforeYouBuy.org, according to The News & Observer. Counterfeit drugs, which could be contaminated, might contain no medication, or contain just a small amount, present a health hazard to users.