Centene Divests Magellan Rx To Prime Therapeutics For $1.35 Billion

Pharmacy benefit manager (PBM) Prime Therapeutics LLC (Prime) finalized its previously announced $1.35 bilion acquisition of Magellan Rx Management, (Magellan Rx), the pharmacy division of Magellan Health, from Centene Corporation. The agreement unites Prime’s strong foundation of pharmacy benefit management (PBM) capabilities with Magellan Rx’s industry-leading total specialty drug management expertise to create a diversified pharmacy solutions organization serving commercial markets and government programs.

Integration planning for the two companies is underway. Both brands will remain in the market for up to a year as the company explores new brand opportunities that convey the innovation, energy . . .