Thread by @econliberties

1/ Good morning & happy #MonopolyMonday!

While Americans flock to their local pharmacy for COVID-19 testing, we’re taking a look at the giant trying to control their health care…@CVSHealth 🦠

2/ The U.S. once had a decentralized pharmacy industry.

Today, @CVSHealth operates more than 9,900 pharmacies, controlling at least 26% of the drug store market nationally. 😳

3/ With its 👀 on the prize, @CVSHealth began building its empire, buying the 84-store-chain Clinton Drug & Discount in 1972 & the 36-store-chain Mack Drug in 1977. 🏥

4/ In 1990, @CVSHealth ramped up its acquisition game & started a spending spree.

5/ @CVSHealth’s merger w/ @Aetna in 2018 is particularly interesting.

By integrating pharmacy & medical benefits, @CVSHealth was not just gaining control over the pharma industry.

It was trying to take over the infrastructure of our health care system.
cnbc.com/2018/11/28/cvs…

6/ This is the same model Amazon’s applied to online retail & it’s dangerous.

@CVSHealth wants to be a gatekeeper for Americans trying to access health care.

7/ Indeed, many health & consumer advocates argued against the CVS-Aetna merger!

DOJ just waved it through. 👋🏼
prospect.org/economy/justic…

8/ The consequences are devastating.

“’I am a danger to the public working for CVS,’ one pharmacist wrote in an anonymous letter to the Texas State Board of Pharmacy in April.”
nytimes.com/2020/01/31/hea…

9/9 To learn more about CVS’s tyranny of the health care industry, read Economic Liberties’ Research Director @mattewstoller’s newsletter here:

mattstoller.substack.com/p/how-cvs-beca…