CVS & CVS will merge in an $8 billion deal, according to a Wall Street Journal report.

The deal, which could come as early as the end of the year, would create a U.S. pharmacy giant that includes pharmacy chains CVS Health and Walgreen, along with pharmacy and drugstore chains Walgreen, Rite Aid and CVS.

CVS is expected to pay $6.5 billion for Walgens, the Journal said.

The merger would also merge the retail operations of CVS and Cigna.

Cignas shares fell 5 cents, or 3%, in after-hours trading, while Walgros shares were flat.

The Wall Street and business news pages have updated.