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Healthcare ETFs Moving On UnitedHealth Deal

Benzinga.com
0 Comments| March 30, 2015

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The merger mania in biotech has been well documented, but as of late it has branching out to the healthcare insurance sector. On Monday, UnitedHealth Group Inc. (NYSE: UNH) agreed to buy the pharmacy benefits manager Catamaran Corp (USA) (NASDAQ: CTRX) for $13 billion in cash – or $61.50 a share – a 27 percent premium over the stock's close of $48.32 a share last Friday.

One in every five prescriptions in the U.S. is serviced by Catamaran, accounting for more than 35 million people or 400 million prescriptions a year, reported UnitedHealth. The newly combined company will now be facing off against pharmacy benefit management titans, such as CVS Health Corp (NYSE: CVS) and Express Scripts Holding Company (NASDAQ: ESRX).

Moves In Biotech

Biotech was not to be outdone by UnitedHealth on Merger Monday, as a number of deals in the sector were announced.

Horizon Pharma PLC (NASDAQ: HZNP) has agreed to buy the ...

/www.benzinga.com/general/biotech/15/03/5367682/healthcare-etfs-moving-on-unitedhealth-deal alt=Healthcare ETFs Moving On UnitedHealth Deal>Full story available on Benzinga.com

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