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Consolidation in the PBM Industry

Some industry executives are wondering whether customers on the outpatient side-most notably, pharmacy benefit management companies-are preparing their own consolidation.

For companies selling products into the inpatient setting, arguably the most important development over the past three or four years has been the dramatic consolidation among hospital systems and groups: witness the emergence of Columbia/HCA and the merger of Premier, American Health Care Systems, and SunHealth.

Now, some industry executives are wondering whether customers on the outpatient side—most notably, pharmacy benefit management companies—are preparing their own consolidation. While no large scale consolidation has taken place yet,...

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