Friday, July 22, 2011

Express Scripts and Medco Health Solutions announce merger

ST. LOUIS, MO (ST. LOUIS PUBLIC RADIO) - St. Louis-based Express Scripts is buying one of its rivals in the prescription benefit management world.

If approved by shareholders and regulators, the merger with New Jersey-based Medco Health Solutions would create the largest such company in the United States.

Express Scripts’ chief spokesman, Larry Zarin, says size would gives the new firm an edge on reducing health care costs, which he called a priority of the nation and the company.

“Where we are with health care costs, where we are with health care reform, the size of that challenge and the absolute call for new innovate solutions, both structurally and tactically, and we’re going to take on both,” Zarin said.

The companies say they have identified one billion in savings from the merger. Zarin refused to discuss the possibility of layoffs.

Rachel Lippmann, St. Louis Public Radio


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