Welcome to our weekly news round-up. In today’s blog, we’ll cover some of the latest goings-on in key markets, using related reports to give context to company deals and daily news. We’ll examine current and future trends and identify opportunities we think all market participants should be aware of.
Here are today’s stories -
CVS Makes $66 billion Bid for Aetna
CVS Health Corp. has made an offer to acquire U.S. managed healthcare company Aetna Inc. in a deal worth over $66 billion, according to reports on Thursday. CVS submitted an offer for the Connecticut-based company earlier this month after a lengthy period of discussions.
Aetna shares rose more than 11 percent, or $18.48, to $178.60 on Thursday.
Market Insights: Pharmacy benefit managers (PBMs) such as CVS negotiate drug benefits for health insurance plans and employers. According to the US Pharmacy Benefit Management (PBM) Market, some of the noteworthy trends and developments in the industry include:
- Increasing trend towards consumerism
- Increasing trend of specialty drugs
- Increase in the medical enrollments
- Rising prevalence of narrow network
- Growth in retail prescriptions
- Mail order penetration and claims
- Increasing mix of insured individuals and drug prices trend.
Apple Acquires New Zealand Wireless Charging Company
Apple has furthered its wireless charging ambitions with the acquisition of New Zealand firm PowerbyProxi. Founded in 2007, PowerbyProxi offer a range of products for different power requirements, from heavy duty wireless slip ring solutions down to leading edge wireless charging solutions for autonomous vehicles.
"The team and I are thrilled to join Apple,” says PowerbyProxi’s Fady Mishriki. “There is tremendous alignment with our values, and we are excited to continue our growth in Auckland and contribute to the great innovation in wireless charging coming out of New Zealand.”
Market Insights: The global wireless charging market is expected to have 34% of CAGR during the forecast period 2016-2023. The various benefits that wireless charging provides are convenience; integration with multiple devices, mobility, flexibility etc. has led to the increase in demand of wireless chargers across the globe. However, comparative slower charging rates than conventional charging systems and lack of standardization restrains the growth of global wireless charging market.
Delphi to Buy Self-Driving Tech Startup NuTonomy
Delphi Automotive has announced it will purchase self-driving software startup nuTonomy for $450 million.
Delphi and nuTonomy have been testing automated vehicles in Singapore. Singapore is banning additional cars on its roads starting next February in an effort to curb over-congestion in the tiny city-state.
“As cities get more crowded, infrastructure has trouble keeping up,” nuTonomy Chief Executive Karl Iagnemma said. “Cities like Singapore and London are going to show the rest of the world what’s possible.”
Market Insights: According to the World Driverless Car Market report, the driverless car will reduce fuel consumption by 10% and insurance costs by 30%. Increased road accidents are a major driving factor for technology providers to develop a safe and efficient transportation system. The majority of auto manufacturers have indicated a keen interest in developing, manufacturing and commercializing driverless cars in the coming years.
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