Approved CVS-Aetna merger leaves Americans facing even higher prescription drug costs
WASHINGTON — Judge Richard J. Leon of the United States District Court for the District of Columbia today approved a massive merger of CVS, the country’s largest retail pharmacy chain, and Aetna, the third-largest health insurer in the United States, despite significant opposition from consumer advocates and health care organizations.
U.S. Public Interest Research Group, which filed a friend of the court brief with Consumer Action, called today’s merger a further failure of the system to rein in the exploding cost of prescription drugs in America.
U.S. PIRG Consumer Watchdog Adam Garber issued the following statement:
“When will the government learn to focus on the company’s actions, rather than its words. Again and again, CVS Caremark has used its market power to both increase the cost of medications for consumers and rip off the government, instead of passing on savings it promised to consumers.
“If their past actions are any evidence, this approved merger will leave Americans poorer and sicker. And it will likely encourage other companies to enact similar mega-mergers that will drive up prescription drug costs.”
U.S. PIRG is the federation of state Public Interest Research Groups. PIRGs are non-profit, non-partisan public interest advocacy organizations that stand up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society.