ALBANY – Assemblyman Kevin
Cahill (D, Kingston) is urging the US Justice Department to block the
proposed merger between CVS Health, one of the largest drug store chains
and pharmacy benefit management companies and Aetna, Inc., which controls
a large share of the health insurance market in New York and the US.
A letter from Cahill explains his concerns following a joint hearing held by the State Assembly Committees on Health and Insurance held in June. He is chairman of the insurance committee and a member of the health committee.
Cahill maintains the loss of competition will result in increased prescription drug prices, harm independent pharmacies and diminish provider choice, all of which, he said, would significantly hurt New York consumers.
“If this deal goes through, three major healthcare companies will become one large conglomerate and there will be a dramatic loss of some of the positive impact that market competition can bring,” he said. “The sponsored have simply failed to substantiate how this mega merger will result in better patient care and lower costs.”
