Health-care payer consolidation continues at a rapid pace. Look for drug manufacturers to chime in with some larger deals of their own.
Two prescription drug supply deals worth more than $50 billion have been announced since December. Last week, insurer Cigna said it plans to buy pharmacy-benefit manager Express Scripts Holding, just three months after CVS Health announced it plans to buy Aetna. If these deals close successfully, nearly every large publicly traded health insurer will have their own PBM in house. Other large...