BRIEF—US Justice Dept requires divestment for CVS merger with Aetna to go ahead

The Department of Justice announced today that it is requiring CVS Health Corporation and Aetna to divest Aetna’s Medicare Part D prescription drug plan business for individuals in order to proceed with their $69 billion merger.

Under the terms of the proposed settlement, Aetna must divest its individual prescription drug plan business to WellCare and allow WellCare the opportunity to hire key employees who currently operate the business.

Aetna must also assist WellCare in operating the business during the transition and in transferring the affected customers through a process regulated by the Centers for Medicare and Medicaid Services, an agency within the US Department of Health and Human Services.