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Medco Health Solutions
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Website: http://www.medcohealth.com Medco is a leading pharmacy benefit manager (PBM) with the nation's largest mail order pharmacy operations. Medco's clients consist of private- and public-sector employers, government agencies, BlueCross BlueShield and other healthcare organizations. About 1/3 of Fortune 500 companies in the U.S. are Medco clients. Medco serves more than 340,000 members through its Medicare PDP, the Medco Medicare Prescription Plan. More than 69 percent of prescriptions filled by Medco Medicare Prescription Plan members are generic, and approximately 27 percent of prescriptions are filled using Medco by Mail. Total prescription volume for 2008, adjusting for the difference in days supply between mail-order and retail, was 795.9 million, a 6.4 percent increase from 2007. Mail-order prescription volume increased 11.6 percent to a record 105.8 million and retail prescription volume rose 3.3 percent to 480.2 million. Medco’s automated pharmacies located in Las Vegas and Willingboro, NJ, together have the capacity to fill more than 2 million prescriptions per week. Medco commenced construction of a third, next-generation automated dispensing pharmacy in Whitestown, IN, which is expected to be operational by late 2009. Medco is one of the nation's largest purchasers of generic drugs. Generic drug utilization among Medco members in 2008 was 64.1 percent, a 4.4 percentage point increase from 2007. The company employs more than 22,000 people nationwide, including 2,650 pharmacists and over 650 nurses. In 2008, Medco had revenues of $51.3 billion and net income of $1.1 billion. Medco became a publicly traded company when it was spunoff from Merck in 2003. Benefits Medco offers comprehensive insurance coverage including medical, dental, group life, and short- and long-term disability. Incentive compensation plans, 401(k), employee stock purchase plan, stock options, paid vacations, sick leave, personal leave and tuition reimbursement also offered. Updated May 30, 2009 |