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Reports: WellPoint may look to sell PBM business
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INDIANAPOLIS (AP) — Health insurer WellPoint Inc. may be shopping its pharmacy benefit management business, according to news reports, a move that would be applauded by some analysts following the company.
The business mainly serves WellPoint's 12 million commercial fully insured customers and generates "a significantly lower margin" than larger pharmacy benefits competitors, such as Medco Health Solutions Inc., according to a note from Wachovia analyst Matt Perry.
"This is an issue that investors have been asking the company about over the last several quarters," he wrote. ...
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