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NEWS
By Luke Broadwater, The Baltimore Sun | August 20, 2014
A city councilman is questioning a $1.6 million deal for a St. Louis company to provide prescription drugs to city workers, arguing that the work should go to local pharmacies. City Councilman Robert W. Curran said St. Louis-based Express Scripts, which holds a multimillion-dollar contract to provide prescription drug benefits to Baltimore City employees, has engaged in "deceptive practices," including overbilling the city for prescription drugs a decade ago. "Express Scripts did shortchange us," Curran told the city's spending panel Wednesday morning during a pre-meeting in a City Hall conference room.
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NEWS
By Luke Broadwater, The Baltimore Sun | August 20, 2014
A city councilman is questioning a $1.6 million deal for a St. Louis company to provide prescription drugs to city workers, arguing that the work should go to local pharmacies. City Councilman Robert W. Curran said St. Louis-based Express Scripts, which holds a multimillion-dollar contract to provide prescription drug benefits to Baltimore City employees, has engaged in "deceptive practices," including overbilling the city for prescription drugs a decade ago. "Express Scripts did shortchange us," Curran told the city's spending panel Wednesday morning during a pre-meeting in a City Hall conference room.
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BUSINESS
By Bloomberg News | January 9, 2007
NEW YORK -- Express Scripts Inc. will nominate four directors to Caremark Rx Inc.'s board in an effort to push through a $26 billion hostile bid rejected by Caremark yesterday in favor of a lower offer from CVS Corp. Express Scripts said it would seek the seats after Caremark's board announced the rejection. Caremark said earlier yesterday that a deal with Express Scripts "would result in a highly leveraged and weakened business" and "insurmountable antitrust risks." Caremark, a manager of prescription benefits for employee health plans, accepted a $21 billion bid on Nov. 1 from CVS, the No. 2 U.S. drugstore chain.
NEWS
By Brian Griffiths | January 9, 2014
Certain elements of the liberal intelligentsia believe that because Maryland is a "well run state" that provides such an exhaustive and expansive number of government services to taxpayers that our government is also well run. In a well run government, decisions would be made based on sound policy and considerations about what's in the best interest of the taxpayers, not personal relationships and campaign contributions. But one-party Maryland gives us constant reason to suspect it's the latter.
BUSINESS
By Laura Pavlenko Lutton and Laura Pavlenko Lutton,MORNINGSTAR.COM | November 26, 2000
Smart shoppers know that some products are cheap for a reason. To get goods off their shelves, stores often mark down items that are out of style or of poor quality. But just because an ugly, falling-apart sweater is on sale doesn't mean that it's a good value. The same holds true for cheap stocks. We wish every stock with an A valuation grade from Morningstar would make a great addition to our portfolios, but not every cheap stock is a sensible investment. We also consider other financial measures, including profitability, to determine if an inexpensive stock is worth buying.
NEWS
By William F. Zorzi Jr. and William F. Zorzi Jr.,Staff Writer | September 24, 1992
A furor over the proposed award of a $68 million contract fo the city employees' prescription drug plan erupted yesterday at the Board of Estimates, as the city's personnel chief urged acceptance of the low bidder over a Blue Cross and Blue Shield of Maryland proposal.A host of retired employees, independent pharmacists and city labor representatives objected to the proposed award of the contract to Express Scripts Inc., an affiliate of New York Life Insurance Co.The groups were nearly unanimous in their objections, expressing concerns over Express Scripts' use of chain pharmacies to the near exclusion of smaller, independent, neighborhood pharmacies, which the groups said offer greater convenience and accessibility.
NEWS
By JOHN FRITZE and JOHN FRITZE,SUN REPORTER | December 22, 2005
Baltimore officials expanded their audit yesterday of a company that holds a $275 million contract to provide prescription drug benefits to city employees. An initial audit of the company, St. Louis-based Express Scripts, found that the city might have been overbilled $300,000 to $700,000 last year, though the company disputes those findings. City Councilman Robert W. Curran, who has led the examination of Express Scripts, said he wants more information about whether the company is passing along savings when it purchases drugs in bulk.
BUSINESS
By Bloomberg News | December 19, 2006
ST. LOUIS -- Express Scripts Inc. made an unsolicited $26 billion hostile bid for Caremark Rx Inc. to become the biggest U.S. manager of drug benefits, topping a bid by drugstore chain CVS Corp. Caremark investors would receive $58.50 in cash and stock for each share, 15 percent more than the Dec. 15 closing price, Express Scripts said yesterday. CVS proposed on Nov. 1 to buy Caremark for $48.53 a share, offering no premium. "The perception before was that Caremark was selling out cheaply," said Kemp Dolliver, an analyst with Cowen & Co. LLC in Boston.
NEWS
By Michael Dresser, The Baltimore Sun | January 25, 2012
State employees, retirees and their dependents could no longer fill their prescriptions at Walgreens under a contract being considered by Maryland's Board of Public Works. The panel agreed Wednesday to defer action on the $2.4 billion five-year contract after Comptroller Peter Franchot protested that the O'Malley administration did not provide notice of its intent to award the pact until Friday. Despite state budget department concerns about the delay, Gov. Martin O'Malley and Treasurer Nancy K. Kopp agreed to give Franchot two weeks to review the proposed deal before the three-member board takes a vote.
BUSINESS
By M. William Salganik and M. William Salganik,Sun Reporter | October 12, 2007
ConnectYourCare, a Hunt Valley company that manages health plans linked to tax-sheltered savings accounts, has been sold to Express Scripts Inc., of St. Louis, the companies announced yesterday. The deal gives ConnectYourCare access to customers of Express Scripts, which manages prescription benefits. Both companies sell specialized management services to insurers, employers, administrators of self-insured plans, unions and governments. Express Scripts manages pharmacy benefits for about 50 million people and had revenue of $17.7 billion last year.
NEWS
By Michael Dresser, The Baltimore Sun | February 8, 2012
More than 200,000 Maryland state employees, retirees and dependents will switch to a new pharmacy plan as a result of the Board of Public Works' decision Wednesday to award the $2.4 billion contract to a St. Louis-based company. When the transition take place in May, plan members will no longer be able to fill prescriptions at one of Maryland's 58 Walgreens stores. The chain is not part of the network operated by the new provider, Express Scripts Inc. The contract was fiercely contested.
NEWS
By Michael Dresser, The Baltimore Sun | January 25, 2012
State employees, retirees and their dependents could no longer fill their prescriptions at Walgreens under a contract being considered by Maryland's Board of Public Works. The panel agreed Wednesday to defer action on the $2.4 billion five-year contract after Comptroller Peter Franchot protested that the O'Malley administration did not provide notice of its intent to award the pact until Friday. Despite state budget department concerns about the delay, Gov. Martin O'Malley and Treasurer Nancy K. Kopp agreed to give Franchot two weeks to review the proposed deal before the three-member board takes a vote.
BUSINESS
By M. William Salganik and M. William Salganik,Sun Reporter | October 12, 2007
ConnectYourCare, a Hunt Valley company that manages health plans linked to tax-sheltered savings accounts, has been sold to Express Scripts Inc., of St. Louis, the companies announced yesterday. The deal gives ConnectYourCare access to customers of Express Scripts, which manages prescription benefits. Both companies sell specialized management services to insurers, employers, administrators of self-insured plans, unions and governments. Express Scripts manages pharmacy benefits for about 50 million people and had revenue of $17.7 billion last year.
BUSINESS
By Bloomberg News | January 9, 2007
NEW YORK -- Express Scripts Inc. will nominate four directors to Caremark Rx Inc.'s board in an effort to push through a $26 billion hostile bid rejected by Caremark yesterday in favor of a lower offer from CVS Corp. Express Scripts said it would seek the seats after Caremark's board announced the rejection. Caremark said earlier yesterday that a deal with Express Scripts "would result in a highly leveraged and weakened business" and "insurmountable antitrust risks." Caremark, a manager of prescription benefits for employee health plans, accepted a $21 billion bid on Nov. 1 from CVS, the No. 2 U.S. drugstore chain.
NEWS
December 21, 2006
City accepts payment in pricing dispute St. Louis-based Express Scripts, which holds a multimillion-dollar contract to provide prescription drug benefits to Baltimore City employees, has agreed to return $240,367 after an audit found irregularities in the price the company set for certain drugs. An initial audit of the company found that the city might have been overbilled $300,000 to $700,000 last year, though the company disagreed with those findings. The Board of Estimates accepted the payment yesterday to settle the dispute.
BUSINESS
By Bloomberg News | December 19, 2006
ST. LOUIS -- Express Scripts Inc. made an unsolicited $26 billion hostile bid for Caremark Rx Inc. to become the biggest U.S. manager of drug benefits, topping a bid by drugstore chain CVS Corp. Caremark investors would receive $58.50 in cash and stock for each share, 15 percent more than the Dec. 15 closing price, Express Scripts said yesterday. CVS proposed on Nov. 1 to buy Caremark for $48.53 a share, offering no premium. "The perception before was that Caremark was selling out cheaply," said Kemp Dolliver, an analyst with Cowen & Co. LLC in Boston.
NEWS
By Michael Dresser, The Baltimore Sun | February 8, 2012
More than 200,000 Maryland state employees, retirees and dependents will switch to a new pharmacy plan as a result of the Board of Public Works' decision Wednesday to award the $2.4 billion contract to a St. Louis-based company. When the transition take place in May, plan members will no longer be able to fill prescriptions at one of Maryland's 58 Walgreens stores. The chain is not part of the network operated by the new provider, Express Scripts Inc. The contract was fiercely contested.
NEWS
December 21, 2006
City accepts payment in pricing dispute St. Louis-based Express Scripts, which holds a multimillion-dollar contract to provide prescription drug benefits to Baltimore City employees, has agreed to return $240,367 after an audit found irregularities in the price the company set for certain drugs. An initial audit of the company found that the city might have been overbilled $300,000 to $700,000 last year, though the company disagreed with those findings. The Board of Estimates accepted the payment yesterday to settle the dispute.
NEWS
By JOHN FRITZE and JOHN FRITZE,SUN REPORTER | December 22, 2005
Baltimore officials expanded their audit yesterday of a company that holds a $275 million contract to provide prescription drug benefits to city employees. An initial audit of the company, St. Louis-based Express Scripts, found that the city might have been overbilled $300,000 to $700,000 last year, though the company disputes those findings. City Councilman Robert W. Curran, who has led the examination of Express Scripts, said he wants more information about whether the company is passing along savings when it purchases drugs in bulk.
NEWS
September 20, 2004
Region rivalry The skirmish over the History Channel's documentary on the War of 1812 goes on. Some local historians charge that the film, First Invasion, ignores the names of the two soldiers who killed the commander of British Land Forces, and they argue that the shooting made the Battle of North Point as pivotal as the siege at Fort McHenry. Perhaps it's the fog of war that enables the debate to continue. But Blaine Taylor thinks he knows why Fort McHenry is the more famous of the two. "It's simple.
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