U.S. District Judge Richard J. Leon said Wednesday in federal court filings that a plan requiring CVS to unload Aetna’s Medicare prescription drug coverage business to ease concerns about competition was within the public’s interest.
The companies announced their combination at the end of 2017. CVS representatives have said for months that the two businesses were operating “as one company” while waiting to hear whether Leon would back the proposal to sell the Medicare business to another insurer, WellCare Health Plans.
CVS Health Corp. stock was up nearly 2%, or $1.18, to $62.85 shortly before markets opened Thursday.
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