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Aetna's agreement to acquire rival Humana would further concentrate the business of selling private Medicare plans to seniors in Illinois, according to data provided by the Kaiser Family Foundation. In the state, Humana and Aetna are already the second- and third-largest players, respectively, in the Medicare Advantage market. Medicare Advantage plans offer lower out-of-pocket costs than traditional Medicare does, but customers usually have fewer options in choosing doctors and hospitals. (Sachdev, 7/21)

Novartis has taken one in the eye. Flat sales in its eye-care business, Alcon, which accounts for about a fifth of revenues, hit second-quarter results. That sent the stock skidding, despite strong results in its pharmaceuticals and generics units. The result also dashed hopes for an increase in its full-year guidance and emphasizes that the Swiss company’s challenge is to live up to high expectations. (Thomas, 7/21)