Healthcare Players Announce $29 Billion Merger
Two major companies in the healthcare system are joining forces. Express Scripts said it's buying Medco Health Solutions in a deal worth about $29 billion. The names may not be familiar but these companies are pharmacy benefit managers. They work with large corporations and health-insurers to administer prescription-drug benefits and claims.
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STEVE INSKEEP, host:
INSKEEP: Two major players in this country's health care system today announced they're joining forces. Express Scripts says it's buying Medco Health solutions in a deal worth about $29 billion. You may not be too familiar with these names, are these companies that are pharmacy benefit managers. They work with large corporations and health insurers that you have heard of, to administer to administer prescription drug benefits and claims. They try to lower costs by negotiating discounts from pharmaceutical companies. The idea of it becoming bigger will allow them to negotiate ever better prices with drug makers.
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