Express Scripts faces lawsuit over $29B Medco deal -

Express Scripts faces lawsuit over $29B Medco deal

(AP) -- An alliance of drugstores and community pharmacists is suing to stop Express Scripts' $29 billion takeover of Medco Health Solutions, a deal they fear would create a giant pharmacy benefits manager with too much leverage and market share.

The National Association of Chain Drug Stores and the National Community Pharmacists Association say a combination of two of the biggest U.S. pharmacy benefits managers would have dire consequences for patients and retail community pharmacists.

Express Scripts and Medco said Wednesday their deal could close as soon as next week. Federal antitrust regulators are still reviewing it.

An Express Scripts spokesman declined to comment on the lawsuit, which was filed in federal court.

PBMs run prescription drug plans for employers, government agencies and other clients.

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