Today’s issue of WorkCompRecap features some big merger news coming out of the Pharmacy Benefit Management space, as Express Scripts, Inc. announced that it plans to buy its largest competitor, Medco Health Solutions, Inc. Under the agreement, Medco shareholders will receive $71.36 per share in cash and stock, worth around $29.1 billion.
The merger is of course subject to regulatory clearance (which it seems there is already some buzzing about), shareholder approvals, and other customary closing conditions, but both companies seem to be confident that they’ll make the case, citing “intense” competition in the PBM industry from several sources, “including retail pharmacy PBMs, managed care PBMs, independent PBMs and specialized PBMs”.
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