Aug 7, 2018

Carl Icahn calls Cigna-Express Scripts merger a "travesty"

Carl Icahn. Photo: Heidi Gutman/CNBC/NBCU Photo Bank via Getty Images

The proposed merger between Cigna and Express Scripts would be a "travesty," activist investor Carl Icahn wrote in an open letter to shareholders this morning. Ichan said Amazon and the Trump administration, together, could challenge Express Scripts' "very existence" over the next few years.

Between the lines: Express Scripts is the country's biggest pharmacy benefit manager (PBM) — the middlemen between drug companies and insurance coverage. But the Trump administration is focusing on PBMs in its effort to bring down prescription drug prices, and Amazon is still looking to enter the pharmacy business.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 9 a.m. ET: 614,884 — Total deaths: 28,687 — Total recoveries: 135,671.
U.S.: Leads the world in cases. Total confirmed cases as of 9 a.m. ET: 104,837 — Total deaths: 1,711 — Total recoveries: 894.
Federal government latest: President Trump signed the $2 trillion coronavirus stimulus bill to provide businesses and U.S. workers economic relief.
State updates: Alaska is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month.
World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day.
Business latest: President Trump authorized the use of the Defense Production Act to direct General Motors to build ventilators for those affected by COVID-19. White House trade adviser Peter Navarro has been appointed to enforce the act.
What should I do? Answers about the virus from Axios experts — What to know about social distancing.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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The one-minute coronavirus story

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News about the coronavirus is so big and coming so fast that it's hard to remember what happened just last week, let alone last month.

Here's the quickest possible review of the story so far — how it happened and how the U.S. lost control.

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Alaska becomes latest state to issue coronavirus stay-at-home order

Data: Axios reporting; Map: Danielle Alberti/Axios

Alaska issued a mandate Friday evening for all people in the state to "remain at their place of residence and practice social distancing" except for those engaged in essential services, including health care and government functions, effective Saturday at 5 p.m.

The big picture: This is the latest state to announce policies to enforce social distancing. More than 1.5 billion people worldwide were asked to stay home Monday.

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