A team of CRA consultants assisted counsel to CVS Caremark (CVS) before, during, and after the FTC‘s review of CVS’ acquisition of Universal American’s prescription drug benefit business. In support of CVS’ pre-acquisition process, CRA’s team calculated best-in-class rebate synergies on the basis of its review of each party’s contracts. During the FTC’s review of the proposed transaction, CRA consultants analyzed the Medicare Part D competitive bidding process and developed analyses showing that the merger would not create incentives for the combined entity to raise its bids. Following the FTC’s unconditional approval of the transaction, CRA’s experts carried out a second round of synergy calculations, sharing these with the integration teams at CVS Caremark and Universal American.
Special interests vs. the public interest: The cost of STR restrictions on households, cities, and visitors
STRs have provided a competitive alternative to hotels, helping owners earn income and afford their homes. They also support local jobs and businesses and...