Rite Aid and Albertsons called off their $24 billion merger on Wednesday amid opposition from Rite Aid investors. Rite Aid CEO John Standley said the company will “move forward and execute our strategic plan as a standalone company.” (Wall Street Journal)
The American Medical Association is calling on the Justice Department to halt the merger of CVS and Aetna, contending that prescription medicines will become more expensive if the deal goes through. CVS released a statement disagreeing with the AMA. (CNBC)
In other M&A news, activist investor Carl Icahn is continuing his barrage against the deal between Cigna and Express Scripts. In a letter sent to investors on Thursday, Icahn cited high drug prices, the elimination of drug rebates, and competitors such as Amazon as reasons to stop the merger. (Reuters)
The FDA has approved the first generic drug to be designated a competitive generic therapy. This designation can help a treatment reach the market faster via enhanced and expedited reviews. Apotex’s potassium chloride oral solution products will also be eligible for 180 days of exclusivity. (Endpoints)
Outcome Health CEO Matt McNally has shared his thoughts on the state of his company and the point-of-care union in general. McNally chatted with MM&M for the final portion of a three-part series, The New POC Landscape, which delves into one of marketing’s most misunderstood media spaces. (MM&M)
