AdvancePCS Inc. (Pharmaceutical Card System) was a large prescription benefit plan administrator from the United States, also known as a
PBM (Pharmacy Benefit Manager).
The company was partially purchased by
McKesson in 1969 and fully in 1972. In 1994, the company was sold to
Lilly for $4.4 billion.
Rite Aid
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. The company ranked No. 148 in the Fortune 500 li ...
purchased AdvancePCS for $1.5 billion in 1999, but sold to Advance Paradigm a year later for $1 billion. In 2003,
Caremark bought AdvancePCS for $5.3 billion, and
CVS acquired Caremark in 2007 in a $26.5 billion deal.
Symposium: The Changing Face Of Pharmacy Benefits Management: Information Technology Pursues A Grand Mission
Litigation-essentials.lexisnexis.com. Retrieved on 2013-09-05.
References
Healthcare in the United States
Pharmacy benefit management companies based in the United States
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