Aug 24, 2018

Investors back Cigna-Express Scripts deal

Cigna shareholders approved the Express Scripts deal. Photo: Scott Eisen/Getty Images

Cigna shareholders voted by a large margin Friday to approve the health insurer's pending acquisition of pharmacy benefit manager Express Scripts.

Why it matters: This deal is one step closer to consolidating the big health insurers and the big pharmacy benefit managers under the same roof. The companies say that will save consumers money on prescription drugs, though some policy analysts and researchers are skeptical.

What's next: Today's vote was largely expected, after Carl Icahn dropped his opposition bid. Now the most important decision rests with Department of Justice antitrust officials, who are reviewing this deal as well as the CVS-Aetna merger.

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  3. Federal government latest: Acting Navy secretary resigns over handling of virus-infected ship — Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill.
  4. Business latest: America's food heroes in times of the coronavirus crisis. Even when the economy comes back to life, huge questions for airlines will remain.
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  6. Wisconsin primary in photos: Thousands gathered to cast ballots in-person during the height of the coronavirus crisis in the U.S.
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Airline industry braces for a forever-changed world

Illustration: Sarah Grillo/Axios

The airline industry got a $58 billion lifeline in the coronavirus federal aid package. But the path is unclear for these companies, whose operations and prospects will be forever changed by the global pandemic.

Why it matters: People may want to minimize travel for the foreseeable future. Investors, analysts and industry watchers are trying to determine how much airlines will need to spend — and how much more in lost revenue they'll see — while they adapt to the new reality.

Trump denies seeing Navarro memos warning about toll of coronavirus

President Trump said at a press briefing Tuesday that he "didn't see" memos from his trade adviser Peter Navarro warning in January and February that the coronavirus crisis could kill more than half a million Americans and cost close to $6 trillion.

Why it matters: Trump insisted that despite not seeing the memos, he did "more or less" what Navarro suggested by banning non-U.S. citizens from traveling from China effective Feb. 2.