On September 27, 2018, Aetna announced that it would sell its Medicare prescription drug business to Wellcare, to include both individual and group standalone Part D members, before the end of 2018. Financial terms were not disclosed. The sale is required by the Department of Justice Antitrust Division to permit completion of CVS Health's proposed acquisition of Aetna, regulatory approvals, and other closing conditions. Other Aetna plans and products will not be affected by the sale.
The DOJ said the divestiture was needed because CVS, the nation’s largest retail pharmacy chain, and Aetna, the nation’s third-largest . . .