NEW YORK (AP) — Medco Health Solutions Inc.'s third-quarter net income fell 4 percent because of expenses related to its pending acquisition by competitor Express Scripts Inc.
The pharmacy benefits manager also raised the low end of its full-year adjusted earnings outlook on Wednesday.
After reporting a string of major contract losses, Medco agreed to be acquired by rival Express Scripts in July for $29.1 billion, or $71.36 per share, in cash and stock. The sale would make Express Scripts the largest pharmacy benefits manager in the country by far.
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