Summary Box: Medco 3Q profit slips on charges

AP News
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Posted: Oct 26, 2011 10:24 AM
Summary Box: Medco 3Q profit slips on charges

COSTS: Pharmacy benefits manager Medco Health Solutions Inc. said its profit fell in the third quarter because it took $22 million in charges related to its proposed sale to Express Scripts Inc. Express Scripts reported similar charges of about $13 million in its third-quarter results.

DEALMAKING: In July Express Scripts agreed to buy Medco for $29.1 billion to form a dominant pharmacy benefits manager.

WHAT'S NEXT: Medco's fourth-quarter results should include a big boost from sales of a generic version of Lipitor, and a slew of other top-selling drugs will go generic in 2012.