DEERFIELD, Ill. — Walgreen Co. reportedly is selling its pharmacy benefit management unit and began taking bids last week, according to a Bloomberg news report.
Media sources say the sale could produce anywhere from $300 million to $1 billion depending upon what assets are included.
Interested parties are said to include the three largest PBMs — Medco Health Solutions, Express Scripts and CVS Caremark Corp.
PBMs are under pricing and reimbursement pressures. Walgreen said it wants to concentrate on its retail and worksite medical clinics as well as its specialty pharmacy, home health care, infusion and respiratory therapy businesses, according to Bloomberg.
Walgreen has reportedly hired Bank of America to arrange for a sale of the unit.