AdvancePCS
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AdvancePCS Inc. (Pharmaceutical Card System) was a large prescription benefit plan administrator from the United States, also known as a PBM (Pharmacy Benefit Manager).
The company was partially purchased by McKesson in 1969 and fully in 1972. In 1994, the company was sold to Lilly for $4.4 billion.[1] Rite Aid purchased AdvancePCS for $1.5 billion in 1999, but sold to Advance Paradigm a year later for $1 billion. In 2003, Caremark bought AdvancePCS for $5.3 billion, and CVS acquired Caremark in 2007 in a $26.5 billion deal.[2]
References
- ^ Steyer, Robert. "Caremark Sags, AdvancePCS Soars on News of Union". TheStreet. Retrieved 2020-01-22.
- ^ Symposium: The Changing Face Of Pharmacy Benefits Management: Information Technology Pursues A Grand Mission. Litigation-essentials.lexisnexis.com. Retrieved on 2013-09-05.
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