FTC opposed to Express Scripts-Medco deal, Reuters reports
Key officials at the Federal Trade Commission are gathering evidence in an effort to halt Express Scripts’ planned acquisition of rival Medco Health Solutions, Reuters reported today.
The deal between the two major pharmacy benefit managers , which was announced in July, still needs approval from Federal Trade Commission, which handles antitrust inquiries for that industry.
Reuters, citing anonymous sources, said the officials were opposed to the deal but want to make sure there was enough evidence to block the merger through the courts.
There has been increasing pressure on regulators to stop the merger, which opponents say will hurt competition in the drug retail market.
The latest opposition comes from the Food Marketing Institute, which has complained to the FTC that the deal would allow north St. Louis County-based Express Scripts to cut reimbursement payments to the pharmacies of grocery chains, according to Reuters.
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