UBC/ Bracket tight-lipped over ExpressScript-Medco merger

Related tags Stock

Express Script will take over fellow PBM Medco after a definitive merger agreement was unanimously approved by the boards of directors of both companies.

Under the deal, Medco shareholders will receive $71 (€ 50) per share in cash and stock, or $29.1 billion, (€20.3) based on yesterday’s closing price.

But the statement – released jointly by both pharmacy benefit managers (PBM) who will now act under the Express Scripts Holding Company banner – reveals little about the future of Medco company United Biosource Corporation (UBC)/Bracket.

If Express Scripts plans to swallow up Medco reaches completion, the merger will come just months after UBC decided to launch its Bracket division in June.

When Outsourcing-Pharma asked Public Affairs manager Melissa Mackey what the merger means for UBC she replied: “As you know, the merger was just announced yesterday and will take months to close. We have no details along those lines to share at this point.”

Bracket VP, client services, Adam Butler added: “I’m unable to discuss the proposed merger at this time.”