NEW YORK (Reuters) - CVS Health Corp (CVS.N) and Aetna Inc (AET.N) top executives on Monday defended their planned merger to Wall Street analysts who questioned the merits of the $69 billion deal, promising both near- and long-term savings for the combined company as well as benefits for consumers.

CVS Chief Financial Officer David Denton said that streamlining the two companies’ operations and combining drug plans and drug benefit management would save $750 million in the second full year after the deal closes without additional investment.