The antitrust revied led to Senate and Congress headings, in addition to the FTC's 8-month antitrust review. As the review looked to move in Express Scripts favor, some legislators stepped up their opposition to the deal.
In February, Sen. Herb Kohl (D., Wisc.), chairman of the Senate Antitrust Subcommittee, sent a 6-page letter to the FTC outlining potential pitfalls to the merger, including possible cost increases for corporate, union and government health insurance plans to go with competition concerns.
Nevertheless, March regulatory filings by Medco and Express Scripts indicated that both companies expected deal approval as early as April 2. The filing also noted the potential for divestitures, "subject to satisfaction or waiver of the remaining closing conditions."
Those expectations, and a confidence that the deal would close in the first half of 2012 proved to be accurate. "Our merger is exactly what the country needs now," George Paz, chief executive of Express Scripts, said in a statement. "It represents the next chapter of our mission to lower costs, drive out waste in health care and improve patient health."In a statement the FTC officials voting in favor of the merger said that the review, "revealed a competitive market for PBM services characterized by numerous, vigorous competitors who are expanding and winning business from traditional market leaders...
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