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As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024.
Tactics used by Philidor Rx Services were challenged in a 2015 investigation of Philidor's partner company, Valeant Pharmaceuticals International Inc. [24] During the October investigations Valeant disclosed that it has an option to buy Philidor RX Services. [25] Valeant's stocks have decreased in value as a result of these allegations. [25]
Catamaran Corporation (formerly SXC Health Solutions) is the former name of a company that now operates within UnitedHealth Group's OptumRX division (since July 2015). It sells pharmacy benefit management and medical record keeping services to businesses in the United States [3] and to a broad client portfolio, including health plans and employers. [4]
The pharmacy management system serves many purposes, including the safe and effective dispensing of pharmaceutical drugs. During the dispensing process, the system will prompt the pharmacist to verify the medication they have is for the correct patient and has the correct quantity, dosage, and information on the prescription label.
[19] [20] In 1994, the company expanded its services by adding workers’ compensation prescription services and reinsurance. [20] In 1994, the company announced a two-for-one stock split, and in 1996 established Express Scripts Canada. [19] The same year, the company began the annual Drug Trend Report and launched the Outcomes Symposium ...
Valu-Rite is a network of over 4,000 independently owned and operated pharmacies established in 1979. It has a business affiliation with McKesson Pharmaceuticals, which sponsors the network and owns the name "Valu-Rite".
On May 21, 2015, it was announced that CVS Health would acquire Omnicare, Inc. the leading provider of pharmacy services to long-term care facilities, for $98.00 per share in cash, for a total enterprise value of approximately $12.7 billion, which includes approximately $2.3 billion in debt. The transaction was expected to close near the end of ...
Medco provided pharmacy services to private and public employers, health plans, labor unions, government agencies, and individuals served by Medicare Part D Prescription Drug Plans. Medco was a member of the S&P 500 and ranked number 34 on the 2011 Fortune 500 list, [ 1 ] with 2011 revenues of more than $70 billion. [ 2 ]
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