McKesson in November reportedly coughed up a whopping $735 million to buy RxCrossroads, a specialty hub business, from CVS Health. Express Scripts, following suit with CVS, also sold its United BioSource Corporation, another hub business.
“These intriguing transactions make sense for all of these key drug channel players,” Fein writes. “CVS Health and Express Scripts divest businesses that could be perceived to conflict with their pharmacy benefit manager business. McKesson deepens its investment in non-wholesaling manufacturer services for specialty products.”
Fein in his post considers “a crucial question: Did the PBMs get out at the right time?”