Shares of Catamaran Corp. continued climbing Tuesday, as analysts lauded a new agreement the pharmacy benefits manager reached to work with health insurer Cigna Corp.

THE SPARK: Cigna, the fourth-largest U.S. health insurer based on enrollment, said Monday that it agreed to a 10-year partnership with the pharmacy benefits manager. Catamaran will provide process drug claims, manage inventory and fill orders for Cigna's home-delivery pharmacy, among other tasks.

Catamaran had worked with Medicare Advantage provider HealthSpring, which Cigna acquired last year.

THE BIG PICTURE: Pharmacy benefit managers, or PBMs, run prescription drug plans for employers, government agencies and other clients. Catamaran also provides health care information technology services.

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