Diversified Pharmaceutical Services

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Diversified Pharmaceutical Services entered the market in 1976 as the pharmacy benefit manager for UnitedHealth Group, a leading managed care organization. [1] It pioneered many cost containment strategies that are now core pharmacy benefit manager services and became a recognized leader in clinical programs.[ citation needed ]

History

Diversified Pharmaceutical Services (DPS) grew out of the pharmacy department within United Healthcare. [2]

The company was sold to SmithKline Beecham for $2.3 billion in May 1994. [3] In 1999, it was acquired by Express Scripts in 1999 for $700 million in cash to create what was then the third largest pharmacy benefit manager in the United States. [1]

References

  1. 1 2 "Express Scripts to Acquire Diversified Pharmaceutical Services", PRNewswire, St. Louis, February 9, 1999, archived from the original on January 27, 2018, retrieved October 31, 2015
  2. ↑ Navarro, Robert (1999). Managed Care Pharmacy Practice. Jones & Bartlett Learning. p. 225. ISBN   978-0-8342-1205-3.
  3. ↑ Freudenheim, Milt (May 9, 1994). "A Shift of Power in Pharmaceuticals". The New York Times. ISSN   0362-4331 . Retrieved March 4, 2020.


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