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March 15, 2006
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MHMR March 15, 2006; Volume 14, Number 5
SPECIAL REPORT: ’06 Outlook for PBMs...PBM script growth slows...Caremark, Express Scripts, Medco, NMHCS, PharmaCare, Prime...Charts: adjusted claims growth...Chart: total claims processed...Medco reworks Merck pact...Harvard Pilgrim profit doubles...Folick leaves Health Net...WellCare owners sell shares...Untied to serve Black colleges...HMO stocks rise 0.3%...Services stocks fall 3%...Magellan boosts 4Q05 net...Matria names Hinton CFO...and more...
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PBM SCRIPT GROWTH SLOWS
The pharmacy benefit management industry is facing a new reality. No, not the potential growth afforded by the Medicare Part D drug program, but rather the decelerating rate of increase in prescriptions filled.
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MEDCO RENEGOTIATES MERCK REBATE PACT
Medco Health Solutions (Franklin Lakes, NJ) announced that it had negotiated an early exit from a five-year rebate arrangement with its former owner Merck & Co. (MHMR, April 30, 2002), in which Medco was required to promote Merck drugs as preferred brands and pay damages if the drugs didn’t hit certain market share levels.
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FOLICK LEAVES HEALTH NET
Health Net (Woodland Hills, CA) announced that Jeff Folick, executive vice president of regional health plans and specialty companies, left the company effective March 6.
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WELLCARE OWNERS TO SELL SHARES WORTH $164.8 MM
The management and largest shareholders of WellCare Health Plans (Tampa, FL) will raise net proceeds after underwriters’ commissions of $164.8 million through an offering of 4.35 million shares of common stock at $39.56 per share with none of the proceeds going to the company.
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MATRIA NAMES HINTON CFO
Matria Healthcare (Marietta, GA) has named Jeffrey Hinton chief financial officer, effective March 20. Hinton, who was most recently with HealthSouth, replaces Stephen Mengert, who left Matria to join MedSolutions.
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