NU Online News Service, Nov. 27, 2:13 p.m. – Oxford Health Plans Inc., Trumbull, Conn., is paying a $20 million break-up fee to shift most of its pharmacy benefits management business to Merck-Medco Managed Care L.L.C., Pittsburgh.
Merck-Medco, a subsidiary of Merck & Company Inc., a giant drug manufacturer, has won a five-year contract to handle most Oxford retail and mail-order pharmacy benefits programs starting Jan. 1, 2002.
Caremark Rx Inc., Birmingham, Ala., $20 million, has been running the mail-order program under a five-year contract signed in September 1999.
