Express Scripts SEC filing: PBM expects to close Medco merger next week
ST. LOUIS — The Federal Trade Commission's ruling on the Express Scripts and Medco merger may be imminent, Express Scripts noted in a Form 8-K filing to the Securities and Exchange Commission on Wednesday.
"Express Scripts and Medco have previously announced that the parties expected that the mergers will be completed by the earlier part of the second quarter of 2012," the company stated. "Express Scripts now expects the parties may be in a position to close the transaction as early as the week of April 2, 2012, subject to satisfaction or waiver of the remaining closing conditions. There is no assurance that the closing conditions will be satisfied or that the proposed mergers will be consummated."
According to published news reports, attorneys general in New York, Pennsylvania, Ohio, Texas and California are considering filing suit to block the proposed Express Scripts-Medco merger in anticipation of an FTC approval. On Tuesday, the American Antitrust Institute and American Consumer Institute announced they will join antitrust attorney and former Federal Trade Commission policy director David Balto on Wednesday at 3 p.m. EST to issue a call to action to all other state attorneys general to join this effort and protect patients and consumers from rising prescription prices and decreased pharmacy services by opposing the merger.