CVS Health has received all the necessary state approvals for its takeover of Aetna — a deal valued at $77 billion including debt — and now expects the deal to be completed by Wednesday, CVS said in a regulatory filing. New York and California were the main sticklers after the federal government conditionally approved the deal in October.
The big picture: We are now just days away from one of the largest pharmacy chains and pharmacy benefit managers absorbing one of the largest health insurers into a single conglomerate with $220 billion of annual revenue. CVS has said the deal will save at least $750 million in the second year, although it's unclear how patients would benefit.
A Chinese scientist says he has successfully used the gene-editing tool known as CRISPR to produce genetically engineered children, according to the Associated Press.
Why it matters: Gene editing has the power to spare a child from painful, fatal diseases. It also has the power to basically become a form of eugenics.
More than 2 out of 5 Americans say paying for their prescription drugs in the past year was difficult, even though most have health insurance, according to a new survey from GoodRx, a consumer site that compares drug costs.
Why it matters: Drug prices are a top public concern because many people take medications every day and see the toll on their wallets. The survey shows people aren't really feeling any relief amid the political promises to address the issue.
