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Apr 19, 2012

UnitedHealth raises outlook as profit rises

By Lewis Krauskopf

(Reuters) – UnitedHealth Group Inc (UNH.N: Quote, Profile, Research, Stock Buzz) posted a higher-than-expected 3 percent rise in quarterly profit on Thursday, benefiting from an increase in membership across its health plans and lower-than-expected medical claims.

The largest U.S. health insurer by market value also raised its full-year profit outlook, and its shares rose 1.2 percent.

Apr 18, 2012

SXC to buy Catalyst in $4.4 billion drug benefit deal

By Lewis Krauskopf

(Reuters) – SXC Health Solutions Corp said it will buy rival pharmacy benefit manager Catalyst Health Solutions Inc for $4.4 billion as it seeks to keep pace in the rapidly consolidating market for managing Americans’ prescriptions.

The deal comes only two weeks after Express Scripts Inc closed its $29 billion acquisition of Medco Health Solutions, creating the clear leader in the pharmacy benefit management (PBM) sector.

Apr 18, 2012

SXC to buy Catalyst in $4.4 bln deal

April 18 (Reuters) – SXC Health Solutions Corp
said it will buy rival pharmacy benefit manager
Catalyst Health Solutions Inc for $4.4 billion as it
seeks to keep pace in the rapidly consolidating market for
managing Americans’ prescriptions.

The deal comes only two weeks after Express Scripts Inc
closed its $29 billion acquisition of Medco Health
Solutions, creating the clear leader in the pharmacy benefit
management (PBM) sector.

Apr 10, 2012

Avon names J&J’s McCoy as CEO; shares fall

By Dhanya Skariachan and Lewis Krauskopf

(Reuters) – Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) named Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) senior executive Sherilyn McCoy as its new CEO, presenting Coty Inc with another hurdle in its $10 billion bid for the world’s largest direct seller of cosmetics.

The appointment of McCoy, who lost the competition for J&J’s top job earlier this year, ended a four-month search for a fresh face to replace charismatic chairman and CEO Andrea Jung as Avon attempts to turn itself around. At J&J, McCoy was responsible for brands including Neutrogena and Lubriderm.

Apr 9, 2012

Avon names Johnson &Johnson’s Sherilyn McCoy as CEO

By Dhanya Skariachan and Lewis Krauskopf

(Reuters) – Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) said it named Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) executive Sherilyn McCoy as its chief executive officer, effective April 23.

The world’s largest direct seller of cosmetics, which rejected a takeover bid from fragrance company Coty Inc last week, had announced in December that it would look outside for a new CEO and that current Chairman and CEO Andrea Jung would become executive chairman.

Apr 9, 2012

Avon names J&J exec Sherilyn McCoy as CEO

April 9 (Reuters) – Avon Products Inc said it named
Johnson & Johnson executive Sherilyn McCoy as its chief
executive officer, effective April 23.

The world’s largest direct seller of cosmetics, which
rejected a takeover bid from fragrance company Coty Inc last
week, had announced in December that it would look outside for a
new CEO and that current Chairman and CEO Andrea Jung would
become executive chairman.

Apr 4, 2012

Medicine spending rose to $320 billion last year

By Lewis Krauskopf

(Reuters) – A raft of new medicines pushed spending on drugs modestly higher last year, but the gains were curbed by weak prescription use as Americans avoided doctor visits, according to a report released on Wednesday.

Overall U.S. spending on medicines reached $320 billion in 2011, up 3.7 percent from 2010, according to the report from IMS Health, a healthcare information and services company. The increase was just 0.5 percent on a per capita basis.

Apr 2, 2012

Express wins FTC clearance, closes Medco buy

By Lewis Krauskopf

(Reuters) – U.S. antitrust regulators approved Express Scripts Inc’s (ESRX.O: Quote, Profile, Research, Stock Buzz) purchase of rival Medco Health Solutions Inc (MHS.N: Quote, Profile, Research, Stock Buzz), the Federal Trade Commission said on Monday, following a contentious eight-month review.

The roughly $29 billion deal, first announced in July, combines two of the three largest U.S. pharmacy benefit managers into the clear industry leader. Separately, the companies announced they completed the deal.

Mar 30, 2012

Analysis: HMO investors breathe easier about health law ruling

NEW YORK (Reuters) – Now that the Supreme Court has given a glimpse of how it will consider the healthcare overhaul, more investors in health insurance stocks are breathing easier about the eventual ruling.

Wall Street is less worried about the worst-case scenario for insurers: that the court strikes down the individual mandate requiring people buy insurance, but keeps in place provisions that could force insurers to cover more sick, high-cost Americans.

Mar 28, 2012

Hospital pay incentives fail to help patients: study

By Lewis Krauskopf

(Reuters) – A program to pay hospitals bonuses for hitting key performance measures, or dock them if they miss, failed to improve the health outcomes of patients, according to a large, long-term study.

The study could lead to a re-examination of financial incentives in healthcare, as policymakers seek ways to reward results rather than paying doctors and other providers for each service they provide, such as a diagnostic test.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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