Pharmacy benefits managers Express Scripts Inc said on Wednesday it expects its plan to purchase rival Medco Health Solutions Inc for $29 billion to close as early as the week of April 2, subject to the satisfaction of closing conditions. Previously the companies said they expected the deal would be completed by the earlier part of the second quarter of 2012. Pharmacy benefits managers like Medco and Express Scripts are hired by insurance companies to handle prescription drug plans. They sometimes provide drugs by mail order, through their own pharmacies and by contracting with chains and independent pharmacies.
Express Scripts, Inc. is a pharmacy benefit management (PBM) company in North America, offering a range of services to its clients, which include health insurers, third-party administrators, employers, union-sponsored benefit plans, workers? compensation plans and government health programs. Shares of ESRX remained unchanged at $53.21. In the past year, the shares have traded as low as $34.47 and as high as $60.89. On average, 7763320 shares of ESRX exchange hands on a given day and today's volume is recorded at 1053512.
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