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Express Scripts Announces Definitive Agreement to Acquire WellPoint NextRx Subsidiaries for $4.675 Billion
May 2nd, 2009
Express Scripts, Inc. (NASDAQ:ESRX), and WellPoint, Inc. (NYSE:WLP), announced that they have signed a definitive agreement under which Express Scripts, one of the largest pharmacy benefits management (PBM) companies in North America, will acquire WellPoint's NextRx subsidiaries for $4.675 billion, which includes consideration for the value of a future tax benefit for Express Scripts based on the structure of the transaction. WellPoint NextRx subsidiaries provide PBM services to approximately 25 million Americans and manage more than 265 million adjusted prescriptions annually. The transaction includes a 10-year contract for Express Scripts to provide services to...
Source: Law & Health Weekly (2009-05-02)
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