Officials in Florida and other states are examining antitrust aspects of a proposed $6 billion merger between pharmacy benefits managers Caremark Rx and AdvancePCS, the PBMs have disclosed.
In a registration statement filed Monday with the Securities and Exchange Commission, the two PBMs say they "have been informed that Florida and other states are reviewing the merger from an antitrust perspective."
According to the filing, "Caremark and AdvancePCS have and will continue to cooperate with any such states in their review."
Caremark, of Birmingham, Ala., and AdvancePCS, based in Irving, Texas, do not elaborate in the filing and company spokespersons did not respond to requests for comment.
Federal authorities have until Friday to inform the companies of any investigation at the national level.
In the SEC document, the companies say they provided the Antitrust Division of the Justice Department and the Federal Trade Commission with merger-related documents on Sept. 10, beginning the mandatory 30-day review period under the Hart-Scott-Rodino antitrust law.
Caremark, the fourth-largest PBM in America, on Sept. 2 announced plans to take over No.2 AdvancePCS for $6 billion in stock and cash to create an entity with $22.6 billion in annual revenues. The combined company still would trail industry leader Medco Health Solutions, though it would move far ahead of No. 3 rival Express Scripts, a $12.3 billion firm.
All four companies face a class action suit accusing them of price fixing and collusion with pharmaceutical suppliers. PBMs also remain in the crosshairs of U.S. attorneys in Philadelphia and Boston.