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Defending the Indefensible

Executive Summary

One of the drug industry's favorite spectator sports these days seems to be pointing out that the much publicized pharmacy benefits manager (PBM) acquisitions of a couple of years ago have largely been failures. Even those who concede Medco Containment Services' success in increasing Merck & Co. Inc.'s market share argue that the PBM moves of three years ago were misguided.
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