“This is the future of the stand-alone” pharmacy benefit manager, said Tim Wentworth, the chief executive of Express Scripts, who would serve as president of the Express Scripts business under the deal. The deal would ensure that all of the major pharmacy benefit managers would have ties to big insurers. Frustration over the rising costs of health care is mounting among employers — who insure most working Americans — and consumers, who are being asked to pay more out of pocket. In January, Amazon, JPMorgan Chase and Berkshire Hathaway announced plans to team up to address spiraling health care costs. The pharmaceutical industry, among others, argues that benefit managers are profiting from higher drug prices by keeping a percentage for themselves.

Source: New York Times March 08, 2018 11:15 UTC