Anthem wants IngenioRX to beless focused on rebates and more intent on keeping drug costs aslow as possible. (Photo: Diego M. Radzinschi/THE NATIONAL LAWJOURNAL)

CVS Health Corp. and Cigna Inc. spent a combined $122 billion on Aetna Inc. andExpress Scripts Holding Co. in deals that linked health insurerswith pharmacy benefit managers, the health-caremiddlemen that negotiate drug costs. Their rival Anthem Inc. thinksit can do the same thing while saving money instead of spendingit.

Along with fourth-quarter profit that beat analyst expectationsWednesday, Anthem said it is accelerating the launch of itsin-house PBM IngenioRX to March from apreviously planned start time in 2020. The company also announcedhigher 2019 profit guidance than analysts were expecting because itanticipates significant drug-cost savings. Investors seemedenthused, sending Anthem's shares higher by a meaty 10 percent.

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