Signs point to Accredo surviving the Express Scripts’ takeover of Medco

Pharmacist Christen Stotts checks information on a tray of prescription drugs before they are shipped from the Accredo pharmacy. The drug-distribution company annually handles 1.4 million shipments of pharmaceuticals for chronically ill patients. (Photo by Brandon Dill)

By Toby Sells

Memphis Commercial Appeal

Posted January 31, 2013 at 10:54 p.m.

If Express Scripts has decided what it will do with Accredo Health Group it hasn’t told civic leaders in Memphis. But more than a few hints suggest the company may not be done here.

Express Scripts acquired Accredo, the Memphis-based specialty pharmacy, in its $29.1 billion merger with Medco last year. At the time, Express Scripts said it would save $1 billion as it cut away the overlapping parts of the two companies. Nearly 400 employees have already been laid off, the majority of them in corporate jobs at and around Medco’s former New Jersey headquarters.

Accredo hits the radar as Express Scripts already has a specialty pharmacy, CuraScript in Orlando. CuraScript and Accredo provide similar services; both offer drugs and expertise for cancer, hemophilia, hepatitis C, Multiple Sclerosis, hypertension and rheumatoid arthritis.

Express Scripts has said it is “still carefully examining a variety” of scenarios for Accredo, but acknowledged closing the Memphis site was a possibility after an internal email leaked last year.

Community leaders haven’t heard anything else since then, said Reid Dulberger, president and CEO of the Memphis and Shelby County Economic Development Growth Engine.

“We have no greater insight into their future plans,” Dulberger said last week. “They have not shared those plans with us.”

To continue reading, visit: http://www.commercialappeal.com/news/2013/jan/31/signs-point-to-accredo-surviving-the-express-of/

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