UnitedHealth plans to acquire
Diplomat provides specialty drugs that treat cancer patients and others with complex medical conditions. It also offers infusion services. The company said
Diplomat said then that it had been hurt by larger competitors, and it couldn’t renew a deal to stay in the specialty pharmacy and retail networks of a big payer it did not name.
Specialty drugs are big business for pharmacy benefit managers or PBMs. Insurers and employers see these expensive drugs as a major factor behind rising health care costs, and they are focusing more on managing the cost of the drugs and where they are administered.
The offer for Diplomat amounts to about
Board members at
Shares of Diplomat dropped nearly 32 percent to
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