The Affordable Care Act seems here to stay, including its incentives for health-care industry consolidation. Big Government drives bigger business. The latest evidence is CVS Health Corp.’s mooted $66 billion bid for insurer Aetna Inc., as companies look for ways to make money beyond being regulated utilities. Many people think of CVS as a pharmacy and retail store, but its PBM Caremark produces an outsize share of its income. Insurers and employers contract with pharmacy-benefit managers (PBMs) to negotiate prices and formularies...

Source: Wall Street Journal October 29, 2017 21:11 UTC