Express Scripts $29.1 billion bid for Medco will hit US FTC scrutiny and squeeze pharma
This article was originally published in Scrip
Express Scripts has agreed to buy rival pharmacy benefits manager Medco Health Solutions in a cash and stock deal that values Medco at about $71.36 a share, or $29.1 billion. The price represents a 28% premium to Medco's closing price of $55.78 immediately before the deal was announced. The move came as a shock to some, but investors who have been watching the pressures facing Medco feel the timing is right.