Big pharma: CVS sells major debt dose as bankers pin hopes on M&A

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Big pharma: CVS sells major debt dose as bankers pin hopes on M&A

David Rothnie
March 08, 2018 04:15 PM
CVS Pharmacy
A CVS pharmacy store is seen in Fairfax , Virginia February 5, 2014 . One of the nation’s biggest pharmacy chains, CVS Caremark, announced that it will clear its shelves of cigars, cigarettes, and other tobacco products this year, giving up almost $2 billion in sales in order to brand itself as a health care company rather than a convenience store.Photo by Olivier Douliery/ABACAUSA.com | Olivier Douliery/ABACA USA/PA Images

CVS Health printed the third-biggest bond deal of all time as it funded its $67.5bn acquisition of Aetna. Bankers hope that a revival in M&A activity will provide a shot in the arm for supply.

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