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.
Anthem Inc. and Cigna Corp. are refusing to provide letters between the two insurers that the U.S. government contends will show that they get along so poorly that they wouldn’t be able to effectively merge.
President Barack Obama met with top executives from more than a dozen health insurers on Monday to re-affirm his support for the Affordable Care Act after several companies retreated from the law’s government-run insurance markets.