CVS, Aetna 'Deserve Nobel' If Merger Helps Consumers: Prof

Law360 (June 20, 2018, 12:04 AM EDT) -- CVS Health Corp.'s planned $69 billion purchase of the insurance giant Aetna Inc. drew criticism from academics testifying Tuesday before the California Insurance Commission, with a Wharton School management professor calling the industry "full of BS" and saying the companies "deserve the Nobel Prize" if they deliver on the benefits they are claiming.

Professor Lawton Burns warned the commission to be cautious, "if not suspicious" of vertical mergers and the benefits that Aetna and CVS executives have touted in support of the deal — particularly with regards to CVS pharmacy's retail clinics, which are not primary care and usually are not...

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