NEW YORK (AP) — Pharmacy benefits managers Medco Health Solutions Inc. and Express Scripts Inc. lobbied the government to approve their proposed $29.1 billion merger, but cut back on their total lobbying expenses in the third quarter.
The companies spent about $1.3 million combined, down from $1.4 million a year ago. Both said their lobbying activities included "advocacy surrounding proposed corporate merger." Express Scripts lobbied the Federal Trade Commission, which is reviewing the deal, and Congress, which is holding hearings on the potential implications of the sale.
The two companies announced in July that Express Scripts had agreed to buy Medco. If the deal is approved, the new company would be by far the largest pharmacy benefits manager in the U.S., about twice as large as competitors like CVS Caremark Corp. The FTC recently extended its review of the tie-up, although the companies said they expected the agency to take that step.
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