US: Health insurer Cigna to buy Express Scripts in US$52b deal

US health insurer Cigna said on Thursday, March 8, it would buy pharmacy benefits manager Express Scripts for about US$52 billion; the latest deal in the sector aimed at tackling soaring healthcare costs.

US health insurer Cigna is close to buying St. Louis County-based pharmacy benefit manager Express Scripts, the Wall Street Journal reported late Wednesday, citing people familiar with the matter.

The terms of the potential deal were not released, but a deal could be announced anytime, the newspaper said. Express Scripts had a market value of US$41.43 billion as of Wednesday’s close, according to Thomson Reuters Eikon data.

Express Scripts spokesman Phil Blando declined to comment on the report Wednesday night, while Cigna could not be immediately reached for comment.

Full Content: Wall Street Journal

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