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Medco provided pharmacy services to private and public employers, health plans, labor unions, government agencies, and individuals served by Medicare Part D Prescription Drug Plans. Medco was a member of the S&P 500 and ranked number 34 on the 2011 Fortune 500 list, [ 1 ] with 2011 revenues of more than $70 billion. [ 2 ]
The company was a subsidiary of Medco Health Solutions, Inc., which purchased Liberty Medical and its parent company, PolyMedica, in 2007. [2] After Express Scripts acquired Medco, they sold Liberty Medical in December 2012 to members of its management team, and it now operates again as an independent company. [ 3 ]
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Express Scripts is known to reimburse pharmacies below cost for medications and push patients to only use their mail order service. They then will spread price the medication and charge the plan sponsor a much higher price for the medication than they will reimburse pharmacies for. [75]
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