Bergen Signs to Provide Drugs to AdvancePCS
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Bergen Brunswig Corp., the third-biggest U.S. drug wholesaler, said Thursday it has signed an agreement to provide $3.5 billion in brand-name drugs over three years to AdvancePCS, the world’s largest online drug-benefits management company.
Bergen, which is based in Orange, will provide drugs to AdvancePCS’ mail-order business. AdvancePCS, based in Irving, Texas, manages more than $20 billion annually in prescription drug spending, Bergen said.
Bergen’s stock, which has more than tripled in the last 12 months, rose 51 cents a share to $18.38 Thursday on the New York Stock Exchange.
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