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BUSINESS
December 14, 1993
WellPoint Health Networks Inc., a Woodland Hills operator of managed health-care programs, said it and Medco Containment Services Inc. have agreed to jointly acquire Professional Claims Services Inc. for $24 million. The seller is Blue Cross and Blue Shield of Western New York Inc. Professional Claims Services is a pharmaceutical benefits management company with 3.7 million members nationwide.
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BUSINESS
October 23, 2012 | David Lazarus
Ivor Davis received a call recently from the Target pharmacy near his home in Ventura. He was informed he could pick up a refill of medication for his wife, Sally, who is battling pancreatic cancer. Davis, 74, told me he and his wife like to be flexible in deciding where and when they purchase her drugs. Sometimes they refill prescriptions during visits to Seattle. Sometimes Davis crosses the border into Canada, where the usual $166 cost for Sally's pills can be cut in half. They never ask any pharmacy to refill an order until they're ready, which is why Target's call came as such a surprise.
BUSINESS
December 18, 1999 | ROBIN FIELDS, TIMES STAFF WRITER
A federal grand jury indicted eight telemarketers Friday on charges of bilking $4.4 million from people in a massive Medical-billing scheme operated from boiler rooms in La Habra and Placentia. The suspects sold software to more than 12,000 consumers, saying they could earn $30,000 a year processing medical insurance claims or bills on their home computers, prosecutors said.
BUSINESS
October 7, 1999 | JONATHAN GAW, TIMES STAFF WRITER
Underscoring the trend toward merging online and offline operations, Merck & Co., the country's largest provider of pharmaceuticals, and CVS Corp., the largest retailer of prescription drugs, will integrate their Web retailing operations, the companies said Wednesday. The deal, which allows members of Merck-Medco Managed Care to order drugs through CVS.com and makes CVS.
BUSINESS
June 25, 2003 | From Associated Press
Federal prosecutors have joined lawsuits accusing a pharmacy benefit company owned by Merck & Co. of pressuring doctors to switch patients to Merck's products even if a patient was doing well on another drug that cost less. U.S. Atty.
BUSINESS
July 9, 2002 | RONALD D. WHITE, TIMES STAFF WRITER
Pharmaceutical giant Merck & Co. may have followed an acceptable accounting practice in reporting $12 billion in income it never received at its Medco Health Solutions pharmacy benefits unit, but experts say drug makers and mail- order drug firms now will be pressured to unveil all of their accounting and business arrangements.
HEALTH
October 8, 2007 | From the Associated Press
The number of young children on prescription drugs for heartburn and other digestive problems jumped about 56% in recent years, and researchers say obesity and overuse might be contributing to the surprising increase. The surge was found in a Medco Health Solutions Inc. analysis released Thursday of U.S. prescription data for 2002 through 2006. It suggests that more than 2 million U.S. children 18 and younger used drugs for digestive or gastrointestinal complaints last year.
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