FTC Closes Its Investigation Into Caremark Rxs Proposed Acquisition of Advance PCS

Transaction Involves Two U.S. Providers of Prescription Benefit Management Services

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The Federal Trade Commission today announced that it has closed its antitrust investigation into Caremark Rx, Inc.’s proposed acquisition of Advance PCS, and that it has notified the companies of this decision. The transaction involves two providers of prescription benefit management (PBM) services in the United States. PBMs administer prescription benefits for most U.S. consumers under contracts with health plans or directly with employers.

As part of the FTC’s continuing effort to provide transparency in its decision-making process and to provide guidance about the application of the antitrust laws to mergers in this market, the Commission has issued a statement outlining its reasons for closing the investigation. The statement is available as a link to this press release on the FTC’s Web site.

The vote to close the investigation and issue the Commission statement was 5-0.

Copies of the Commission’s statement are available from the FTC’s Web site at www.ftc.gov. The FTC’s Bureau of Competition seeks to prevent business practices that restrain competition. The Bureau carries out its mission by investigating alleged law violations and, when appropriate, recommending that the Commission take formal enforcement action. To notify the Bureau concerning particular business practices, call or write the Office of Policy and Evaluation, Room 394, Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Ave, N.W., Washington, D.C. 20580, Electronic Mail: antitrust@ftc.gov; Telephone (202) 326-3300. For more information on the laws that the Bureau enforces, the Commission has published "Promoting Competition, Protecting Consumers: A Plain English Guide to Antitrust Laws," which can be accessed at http://www.ftc.gov/bc/compguide/index.htm.

(FTC File No. 031-0239)

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