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ADVANCEPCS INC. Irving, Texas Amid Ongoing Battles, This Firm Remains Fit.(A)
Byline: AMY REEVES
They say in Hollywood there's no such thing as bad publicity.
That might be true in entertainment, but it isn't always so in business.
Such has been the problem for pharmacy benefit managers such as AdvancePCS.
PBMs, as they're called, purport to save money for health plans and their customers by cutting deals with drug firms to fill prescriptions.
But some have accused PBMs of actually driving up drug costs for consumers. The stated reason is that PBMs get rebates that encourage drug makers to drive up prices to recoup costs.
In November, health care giant Aetna Inc. fired its PBM, Express Scripts Inc., saying it could do better on its own.
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