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Express Scripts Acquires NextRx

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A pharmacy benefits manager has gone ahead with a previously announced move to scoop up a competitor.

Express Scripts Inc., St. Louis, (Nasdaq:ESRX) has completed acquiring the NextRx PBM subsidiaries from WellPoint Inc., Indianapolis (NYSE:WLP).

Express Script is paying about $4.7 billion for the subsidiaries, “which includes consideration for the value of a future tax benefit for Express Scripts based on the structure of the transaction,” the companies say.

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WellPoint has agreed to buy PBM services from Express Scripts for 10 years.

WellPoint’s NextRx subsidiaries have been handling PBM services for about 25 million U.S. residents.