>> It's the $66 billion deal that could potentially transform the health insurance business, drug stores, and the pharmaceutical industry all at one time. Drug store chain CVS putting a bid to buy Aetna along with the health insurer's 46 million members, which could give CVS a locked in base to fight for lower drug prices says Reuters' Health and Pharmaceutical correspondent, Caroline Humer.
>> The drug pricing trend in America is up. It goes up every year, double digits. This is an attempt to try to just slow that down a little bit by getting more bulk in the buying. So Aetna now, if this works, will be buying and negotiating on behalf of more people.
And that could mean that the drug makers have less leverage with them. They'll have more leverage with the drug makers.>> That's because CVS is a so-called pharmacy benefits manager. Its job is to haggle with drug companies on behalf of corporate and individual health plans. Heath insurer leader UnitedHealth Group has had success through its Optum unit, and number two insurer Anthem is looking to do the same through a partnership with CVS.
But could a merged of the third largest health insurer and one of the nations biggest pharmacies ever get a green light from Washington?>> President Trump has said that he wants to get drug prices down, he's tweeted a lot about that. He also did an executive order about healthcare cost and said that he didn't' want anymore hospital mergers because he thought that was driving up cost.
So, if this a deal that will drive up costs in some way, it seems like he wouldn't be for that, right? If it's somehow they can convince everyone that this is going to drive down costs for consumers, that would be a strong argument with that, with the current administration.
>> An argument that CVS will need to turn into reality now that Amazon is reportedly taking steps to get into the drug delivery business.