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UnitedHealth to buy pharmacy benefit firm Catamaran for $12.8 billion

By Sneha Banerjee (Reuters) - Health insurer UnitedHealth Group Inc agreed to buy Catamaran Corp in a deal worth about $12.8 billion to boost its pharmacy benefit business as it competes with bigger rivals such as Express Scripts Holdings Co . Pharmacy benefit managers (PBM) administer drug benefits for employers and health plans and run large mail order pharmacies, helping them get better prices from drugmakers. As employers look to cut prescription costs on expensive drugs, the deal with Catamaran will give UnitedHealth's pharmacy benefits unit, OptumRx, the scale to negotiate favorable prices from pharmacy companies. U.S. drug prices rose 12 percent in 2014 due to a new treatment for hepatitis C that cost more than $80,000 but cured almost all recipients with few side effects. Another new class of drugs, to treat high cholesterol, is expected to hit the market in 2015 and has insurers worried about drug costs this year as well. The purchase of Catamaran will increase UnitedHealth's market share to 15 percent to 20 percent of the people who receive their drug benefits through pharmacy benefit managers, BMO Capital Markets analyst Jennifer Lynch said in a research note. With a combined 1 billion scripts annually, UnitedHealth will be about the same size as current industry number two, CVS Health Corp , she added. Catamaran was formed after SXC Health Solutions and PBM Catalyst Health Solutions merged in 2012. UnitedHealth's offer of $61.50 per share represents a premium of 27 percent to Catamaran's Friday close on the Nasdaq. Catamaran's stock was trading at $60.01 premarket on Monday, while UnitedHealth was up nearly 4 percent. The deal "makes sense to us, but admittedly came much earlier than we expected," Jefferies analyst Brian Tanquilut said in a research note. "We had always viewed Catamaran as a compelling asset for companies looking for scale in the PBM sector such as Optum or Walgreens but expected Catamaran to grow the business much further before pursuing a sale." He added that the offer seemed adequate and he did not expect competing bids at this point. The deal value is based on Illinois-based Catamaran's total diluted shares outstanding as of Dec. 31. The transaction is expected to close in the fourth quarter of 2015 and add about 30 cents per share to UnitedHealth's profit in 2016, the companies said. Catamaran Chief Executive Officer Mark Thierer will be CEO of OptumRx and OptumRx CEO Timothy Wicks will become president. (Additional reporting by Caroline Humer in New York; Editing by Savio D'Souza, Saumyadeb Chakrabarty and Meredith Mazzilli)

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RxResource Home > Pharmacy Resources > Pharmacy Benefit Management

2441 Warrenville Road, Suite 610 Lisle, IL 60532-3642

Susan Fleming, Vice President, Marketing

Phone: (630) 577-4880

http://www.catamaranrx.com/

Catamaran offers a true alternative to the status quo in pharmacy benefit management. You don't have to choose between the scale and purchasing power of the largest providers and the flexibility and agility of smaller ones. We offer the best of both.

At Catamaran, we put your individual needs - and those of your members - at the center of our services. We connect pharmacists, doctors and caregivers with prescription data to improve health outcomes, offering the clinical intelligence, technology and scale to lower payer costs while improving member health.

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Catamaran Corporation Unveils New Specialty Pharmacy Offering

Catamaran Corp, a leading provider of pharmacy benefit management (PBM) services and technology announced it has launched its new specialty brand, BriovaRx.

Catamaran Corp, a leading provider of pharmacy benefit management (PBM) services and technology announced it has launched its new specialty brand, BriovaRx. BriovaRx marks the beginning of a new day in the specialty sector, delivering personalized, holistic care to patients with complex and chronic conditions to improve health outcomes.

“Patients diagnosed with complex medical conditions often face insurmountable challenges in managing their conditions - financially, emotionally, and physically,” said Mark Thierer, chairman and chief executive officer of Catamaran. “In contrast to an industry that’s focused solely on the drug, BriovaRx focuses on the patient, ensuring they receive one-on-one support and a personalized plan that addresses all conditions — not just the underlying chronic illness – to help them lead healthy, vibrant lives.”

As the fifth largest specialty pharmacy in the nation, BriovaRx has the skill and scale to effectively manage costs for health plans and other payers challenged by escalating specialty drug prices and increased utilization. According to projected trend figures, specialty plan spending is estimated to grow from 18% of total pharmacy costs (2010) to 43% by 2020.

“Since 11 of the 16 most utilized drugs in the nation are classified as specialty, BriovaRx addresses a growing need in our communities to better manage complex conditions like hepatitis C, cancer, crohn’s Disease, HIV, multiple sclerosis, and others,” said Albert Thigpen, senior vice president, Pharmacy Operations, Catamaran. “BriovaRx provides a support system for the patient and coordinates the efforts of providers and payers to streamline delivery and administration of treatment to ensure a more positive experience for every patient and more time for physicians to focus on care.”

Catamaran, under its former name SXC Health Solutions, has more than 15 years of experience within specialty pharmacy. BriovaRx replaces its former specialty pharmacy offering, Medfusion/Ascend.

About Catamaran

Catamaran, the industry’s fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 200 million prescriptions each year on behalf of 25 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing 1 in every 5 prescription claims in the United States, Catamaran’s skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in Lisle, Illinois, with multiple locations in the United States and Canada. For more information, please visit www.catamaranRx.com .

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Carbon nanotubes for catalytic applications

• Catalysis and Nanotechnologies
• Published: 11 April 2010
• Volume 2 , pages 26–28, ( 2010 )

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• E. G. Rakov 1 , 2 ,
• I. V. Baronin 2 &
• I. V. Anoshkin 1  

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The unique properties of carbon nanotubes, a new class of nanomaterials, make them usable as catalyst supports for various reactions. A pilot reactor has been constructed for producing nanotubes. The nanotubes obtained in this reactor have displayed high performance in a number of catalytic processes. A continuous laboratory-scale reactor for the synthesis of binary and mixed oxide nanosized catalysts has been tested. Russia has everything necessary for organizing nanotube production.

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Carbon Nanotubes in Organic Catalysis

Mono-, Bi-, and Trimetallic Catalysts for the Synthesis of Multiwalled Carbon Nanotubes Based on Iron Subgroup Metals

G. V. Golubtsov, M. A. Kazakova, … V. L. Kuznetsov

Synthesis of high quality nitrogen-doped single-wall carbon nanotubes

Peng-Xiang Hou, Man Song, … Hui-Ming Cheng

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Mendeleev University of Chemical Technology of Russia, Moscow, 125047, Russia

E. G. Rakov & I. V. Anoshkin

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Original Russian Text © E.G. Rakov, I.V. Baronin, I.V. Anoshkin, 2010, published in Kataliz v Promyshlennosti.

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Rakov, E.G., Baronin, I.V. & Anoshkin, I.V. Carbon nanotubes for catalytic applications. Catal. Ind. 2 , 26–28 (2010). https://doi.org/10.1134/S2070050410010046

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Received : 20 October 2008

Published : 11 April 2010

Issue Date : March 2010

DOI : https://doi.org/10.1134/S2070050410010046

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• Victor Mukhin

Victor M. Mukhin was born in 1946 in the town of Orsk, Russia. In 1970 he graduated the Technological Institute in Leningrad. Victor M. Mukhin was directed to work to the scientific-industrial organization "Neorganika" (Elektrostal, Moscow region) where he is working during 47 years, at present as the head of the laboratory of carbon sorbents.     Victor M. Mukhin defended a Ph. D. thesis and a doctoral thesis at the Mendeleev University of Chemical Technology of Russia (in 1979 and 1997 accordingly). Professor of Mendeleev University of Chemical Technology of Russia. Scientific interests: production, investigation and application of active carbons, technological and ecological carbon-adsorptive processes, environmental protection, production of ecologically clean food.   

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