First it was the stand-off with Walgreens over how much more money they thought they deserved than Walgreens over filling Rxs. As of this writing, it looks like neither one is going to blink or back down.
Then there is the issue of them buying/merging with Medco… these two entities generate 2.5 BILLION in net pre-tax profits. Neither one pays any dividends, so all that profit is going to be stockpiled to buy competitors up or buy back stock, so that they can give them back to execs as stock options…or some combination.
Of course, this proposed merger has angered the entire pharmacy community and everyone is marching to capital hill to have the merger investigated.
Now Wellpoint and Express Scripts are getting ready to head for the court system to “duke it out”
http://www.reuters.com/article/2011/12/14/us-expressscripts-wellpoint-idUSTRE7BD01020111214
Have we reached the point where some of the “big guys” (express scripts) have gotten so arrogant that they think that they can take on anyone and expect them to cave and not stand up?
It was recently reported that none of the major companies that use PBM’s agreed to testify before a Congressional hearing about the PBM business
http://healthblog.steveariens.com/?p=254
Maybe it is time for Congress to consider repealing the McCarren-Ferguson Act that exempts the insurance industry from Sherman Anti-trust act.
Filed under: Dumb politicians, General dumb-ass problems
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