Senators: Express Scripts, Medco Must Show Merger’s Consumer Benefits
At a Tuesday hearing, Senators expressed concerns about the proposed merger between the nation's two largest pharmaceutical benefit managers.
Politico Pro: Senators Question Express Scripts-Medco
Sen. Herb Kohl on Tuesday told Express Scripts and Medco executives that the burden was "squarely" on them to show that their proposed $29 billion merger would benefit consumers and competition, not just the corporate bottom line. At a hearing of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights, Kohl (D-Wis.), the subcommittee chairman, Sen. Chuck Grassley (R-Iowa) and others expressed concern about the deal's impact on retail pharmacists, both independent and chain stores (Norman, 12/6).
CQ HealthBeat: Senators Express Concerns About Pharmacy Benefit Merger
Executives from the nation's two largest pharmaceutical benefit managers defended themselves on Tuesday at a Senate Judiciary subcommittee hearing against charges that their proposed merger could harm consumers and community pharmacists. Express Scripts Inc. has proposed acquiring Medco Health Solutions Inc. in a $29 billion deal that would create the largest pharmacy benefit firm in the nation. Senators such as Herb Kohl, D-Wis., who chairs the Subcommittee on Anti-Trust, Competition Policy and Consumer Rights that held the hearing, were skeptical about the benefits (Adams, 12/6).