For a self-described nerdy accountant who shuns attention, Express Scripts Inc (ESRX.O) chief George Paz just thrust himself into the limelight. With his $29.1 billion planned purchase of rival Medco Health Solutions Inc (MHS.N), Paz would run the clear leader in managing prescription drug benefits for millions of Americans. He will also operate at the heart of a politically charged debate over rising healthcare costs that are fueling the U.S. budget deficit. But the urgency around that debate may have made this the perfect time for him to move on a deal that is otherwise fraught with regulatory risk. Paz, 55, said the combined company will be better placed to drive out wasteful spending, giving it even more clout to negotiate with drugmakers and pharmacies. "I'm not the kind of guy that does a lot of publicity things. That's just not who I am," Paz told Reuters in an interview. "I am an accountant by education so I'm pretty boring and nerdy and I actually appreciate that. That's just who I am."
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 5.36% or $2.815/share to $55.36. 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 77775920.
Medco Health Solutions, Inc. (Medco) is a healthcare company. Shares of MHS traded higher by 14.43% or $8.05/share to $63.83. 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 70885120.
Source
