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On June 19th, Petris Center Director Dr. Richard Scheffler testified at the California Department of Insurance’s public hearing regarding the proposed Aetna-CVS merger. The hearing’s purpose was to examine the potential competitive effects of the proposed merger. Dr. Scheffler’s testimony focused on the horizontal overlap between CVS and Aetna in the California prescription drug plan (PDP) market, specifically measuring market concentration before and after the proposer merger and the potential impact on the PDP market.
You can watch Dr. Scheffler’s testimony here. His comments begin at the 2:22:40 mark.