Advancepcs Company

Caremark RX Inc., which provides drug benefit services to more than 1,200 health plan sponsors and participants, agreed to buy AdvancePCS for about $5.6 billion in stock and cash to add customers. AdvancePCS shareholders would get the equivalent of 2.15 shares of Caremark for each share they own, said Robert Mead, a spokesman for Birmingham, Ala.-based Caremark Caremark and Irving, Texas-based AdvancePCS are among the largest pharmacy-benefits managers in the United States.

Caremark RX Inc., which provides drug benefit services to more than 1,200 health plan sponsors and participants, agreed to buy AdvancePCS for about $5.6 billion in stock and cash to add customers. AdvancePCS shareholders would get the equivalent of 2.15 shares of Caremark for each share they own, said Robert Mead, a spokesman for Birmingham, Ala.-based Caremark Caremark and Irving, Texas-based AdvancePCS are among the largest pharmacy-benefits managers in the United States.

AdvancePCS, which manages prescriptions for pharmacies, said it is introducing a plan to encourage the use of low-cost generic drugs by providing vouchers for new prescriptions and informing pharmacists about the availability of generics. Insurance companies will pick up the tab to eliminate co-payments for generic drugs under the voucher program, an AdvancePCS spokesman said.

AdvancePCS, which manages prescriptions for pharmacies, said it is introducing a plan to encourage the use of low-cost generic drugs by providing vouchers for new prescriptions and informing pharmacists about the availability of generics. Insurance companies will pick up the tab to eliminate co-payments for generic drugs under the voucher program, an AdvancePCS spokesman said.

Bergen Brunswig Corp., the third-biggest U.S. drug wholesaler, said Thursday it has signed an agreement to provide $3.5 billion in brand-name drugs over three years to AdvancePCS, the world's largest online drug-benefits management company. Bergen, which is based in Orange, will provide drugs to AdvancePCS' mail-order business. AdvancePCS, based in Irving, Texas, manages more than $20 billion annually in prescription drug spending, Bergen said.

Bergen Brunswig Corp., the third-biggest U.S. drug wholesaler, said Thursday it has signed an agreement to provide $3.5 billion in brand-name drugs over three years to AdvancePCS, the world's largest online drug-benefits management company. Bergen, which is based in Orange, will provide drugs to AdvancePCS' mail-order business. AdvancePCS, based in Irving, Texas, manages more than $20 billion annually in prescription drug spending, Bergen said.