Law360, New York (January 26, 2007, 12:00 AM ET) -- Sixteen riled legislators have written letters urging the Federal Trade Commission to take a closer look at possible anti-competitive effects of Express Scripts Inc.’s hostile acquisition bid for its larger rival, pharmacy benefit manager Caremark Rx Inc.
Lawmakers from states including Arizona, California, Colorado and Texas have implored the FTC to carefully investigate the potential merger of Caremark and Express Scripts, ranked as the number-two and number-three pharmacy benefit managers, respectively, according to a report by Reuters News.
Caremark has already consented to a takeover by...
Lawmakers Scrutinize Express Scripts Bid
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