Express Scripts buying Medco for $29.1B

The top two U.S. companies managing prescription drug benefits are uniting in a $29.1 billion deal they say will help achieve key goals of the health care overhaul: reining in costs and improving patients' health.

Express Scripts Inc. announced an agreement Thursday to buy rival Medco Health Solutions Inc. Together, they would handle the prescriptions of about 135 million people, more than one in three Americans.

That will give them even more clout in demanding discounts from drugmakers, who are dealing with falling or stagnant revenue as an unprecedented number of blockbuster drugs taken daily by millions is getting cheaper generic competition.

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