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.
Trends in competition in the United States: what does the evidence show?
Has the United States economy become less competitive in recent decades? One might think so based on a body of research that has rapidly become influential for...