Express Scripts Inc (ESRX.O) will purchase rival Medco Health Solutions Inc (MHS.N) for $29.1 billion, creating a U.S. powerhouse in managing prescription drug benefits that is sure to draw antitrust scrutiny. The deal would be the biggest ever in the healthcare services industry and give Express Scripts close to one-third of the pharmacy benefits market, gaining much more leverage for negotiating drug prices for employers and other clients who must reduce their exposure to spiraling healthcare costs. The industry's expertise in managing pharmacy spending has made its services all the more attractive and lured new competitors like insurer UnitedHealth Group (UNH.N). The deal would also give the combined company greater clout against drugstore chains like Walgreen Co (WAG.N) and increase competition with the likes of CVS Caremark Corp (CVS.N).
Express Scripts, Inc. is a pharmacy benefit management (PBM) operating in North America, offering a range of services to its clients, which include health maintenance organizations (HMOs), health insurers, third-party administrators, employers, union-sponsored benefit plans, workers? compensation plans and Government health programs. Shares of ESRX traded higher by 5.23% or $2.75/share to $55.29. In the past year, the shares have traded as low as $41.55 and as high as $60.89. On average, 5070640 shares of ESRX exchange hands on a given day and today's volume is recorded at 72689960.
Medco Health Solutions, Inc. (Medco) is a healthcare company. Shares of MHS traded higher by 14.86% or $8.29/share to $64.07. In the past year, the shares have traded as low as $43.45 and as high as $65.39. On average, 3589600 shares of MHS exchange hands on a given day and today's volume is recorded at 65713716.
UnitedHealth Group Incorporated is a diversified health and well-being company. Shares of UNH traded higher by 1.42% or $0.73/share to $52.24. In the past year, the shares have traded as low as $29.94 and as high as $53.50. On average, 7721070 shares of UNH exchange hands on a given day and today's volume is recorded at 6604083.
Walgreen Co. (Walgreen) together with its subsidiaries, operates a drugstore chain in the United States. Shares of WAG fell by 5.24% or $-2.19/share to $39.61. In the past year, the shares have traded as low as $26.77 and as high as $47.11. On average, 6310280 shares of WAG exchange hands on a given day and today's volume is recorded at 32188224.
CVS Caremark Corporation (CVS Caremark) is a pharmacy healthcare provider in the United States. Shares of CVS traded higher by 2.49% or $0.92/share to $37.87. In the past year, the shares have traded as low as $26.84 and as high as $39.50. On average, 7801890 shares of CVS exchange hands on a given day and today's volume is recorded at 23413346.
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