The decision casts in doubt the industry's other big proposed merger—Indianapolis-based Anthem Inc.'s $48 billion bid for Cigna Corp. A ruling on the Justice Department's challenge of the Anthem deal is pending.
U.S. District Judge Amy Berman Jackson in Washington, D.C., will issue a decision on whether the combination of the companies risks higher costs for large employers around the country and should be blocked.
Twenty-three percent of Cigna's domestic revenue would need to be rebranded to comply with rules of the Blue Cross Blue Shield association, said Anthem executive Steve Schlegel under questioning Wednesday by a Justice Department lawyer.
The rift between merging health insurance companies Cigna Corp. and Anthem Inc. came further into public view Tuesday as transcripts of testimony from both chief executives were unsealed during a U.S. antitrust trial
Anthem Inc.'s proposed $48 billion merger with Cigna Corp. could give the insurer the power to raise prices for employers across the country, according to a witness in the U.S. government's lawsuit to block the deal.
Pharmaceutical company stocks were among the winners in early trading Wednesday as Republicans’ sweeping election victory eased concerns that Democrats would enact controls on drug prices. Eli Lilly and Co. shares jumped 4 percent.