Geoffrey A. Manne Testifying Before Congress on CVS-Aetna Merger
On Tuesday February 27, ICLE’s Executive Director Geoffrey A. Manne will be testifying about the pending CVS-Aetna merger before the United States House of Representatives Committee on the Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law. This hearing will take place at 2141 Rayburn House Office Building at 1:30 PM.
According to Mr. Manne’s submitted testimony:
The CVS Health/Aetna merger is part of a growing private-sector movement in the healthcare industry to move beyond some of the structural inefficiencies that have plagued healthcare in the United States since World War II. Not only is it presumptively procompetitive under US antitrust law as a vertical merger, it is self-evidently a low-risk experiment aimed at better aligning firm and consumer interests. Without compelling evidence to the contrary, this merger appears to present no significant risks of harm that outweigh the clear benefits that it will provide. Thank you again for the opportunity to speak with you today.