The American Medical Association is urging lawmakers and regulators to block CVS Health's proposed $69 billion acquisition of Aetna, the organization announced June 19.
AMA President Barbara L. McAneny, MD, testified before the California Department of Insurance June 19 outlining the organization's position that the proposed acquisition "would likely substantially lessen competition in many healthcare markets, to the detriment of patients" and that the AMA is "convinced ... the proposed CVS-Aetna merger should be blocked."
The organization has reportedly been investigating the proposed transaction since December 2017, and has concluded the deal would likely have anticompetitive effects on Medicare Part D, pharmacy benefit management services, health insurance, retail pharmacy and specialty pharmacy.
The AMA also said June 19 it plans to file a post-hearing memorandum later this month outlining its concerns over the proposed deal.
Prior to its June 19 announcement, the organization stayed relatively quiet on the proposed deal — a move that stood in direct contrast to its very vocal opposition to the proposed Aetna-Humana merger in 2016, which ultimately failed.