medco_extrapage2Mergerwillimprovequalityandefficiencyofcare(continued)otherwitnesses“I_don’t_see_the _benefits_going_away._Actually,_Mr._Snow’sIn_addition_to_Snow_and_Paz,_there_were_four_other_witness es_atcompany,_Medco,_has_a_different_approach_to_the_the_hearing:_Joseph_lech,_R.Ph.(owner,_lech’s_P harmacy,_and_aadministration_of_drug_benefits_than_my_company,”_said_Paz._“Imember_of_the_national_C ommunity_Pharmacists_Association);think_they_are_both_verytoogood,_but_together,howbigiSbig?Dennis_W iesner,_R.Ph(senior_director_of_privacy,_pharmacy,_and“unDertheantitruStlaw,that’Snotgovernmental_af fairs_for_H-E-B,_a_supermarket_chain_in_Texas);combining_the_best_of_boththeiSSuethatweaDDreSS.theiS SueDan_E._Gustafson(a_partner_with_Gustafson_Gluek,_PllC);_and,companies,_I_believe_it_takesyouaDDre SSiS’DotheyhavetheStephanie_kanwit(counsel,_Manatt,_Phelps_and_Phillips,_llP).us_to_a_whole_new_leve l_ofmarketpowerthatwoulDpreCluDeclinical_expertise...“otherSfrombeingabletoenterthelech,_Wiesner_and _Gustafson_voiced_concerns_about_the_impactmarketplaCeanDofferCompetitiveof_the_merger_on_competitio n_as_wellSnow_affirmed_that_he_alsoplanS...“antitruStmergerlawiSabouttheimpaCtonCoStanDas_on_local_ pharmacies.did_not_see_any_benefits—CongreSSmanbobgooDlattequalityforConSumerS.it’Sgoing_away;_“we_ only_seeoftheChairmanhouSeSubCommitteekanwit_noted_that_she_was_not_notConCerneDwiththebenefits_adde d.“intelleCtualproperty,onimpaCtoninDiviDualtestifying_on_behalf_of_either_party,CompetitionanDthein ternetCompetitorSinthatbut_was_testifying_on_how_theCongress’rolepartiCularmarket.“federal_Trade_Com mission(fTC)_isCongress_does_not_vote_on_whether_or_not_to_approve_the—Stephaniekanwitlikely_to_vie w_the_merger,_which_willmerger_of_Express_Scripts_and_Medco;_that_is_the_federal_Tradebe_in_light_of _the_recently_passedCommission’s(fTC)_job._Congress_can_gather_information_andCounSel,manatt,phelpS& gauge_opinion_on_an_issue_and_present_that_data_to_the_fTC_forphillipSantitrust_regulations._She_sai d_thequestion_that_the_agency_willconsideration_in_its_deliberations.examine_is,_“Will_[the_proposed _merger]_substantially_lessenmediacoveragecompetition?“following_the_hearing,_there_was_significant, _but_balanced,She_explained_the_fTC_will_look_at_the_impact_on_cost_and_qualitymedia_coverage._Among _the_print_headlines:_“Express_Scripts,to_consumers_and_noted_that_the_agency_is_“very_knowledgeable “Medco_Rebut_Antitrust_Concerns_In_US_House_Hearing"_fromregarding_PBMs.Dow_Jones/TheWallStreetJourn al;“Express,_Medco_toutsavings,_competition_in_hearing"_from_Reuters;_“lawmakers_hearkanwit_testifie d_the_fTC_would_address_two_questions:(1)_theconflicting_predictions_about_impact_of_Express_Scr ipts -Medcoimpact_on_PBM_customers_and(2)_the_impact_on_retail_pharmacy.merger"_from_ModernHealthcare;_an d_“fighting_fire_with_fire:She_stressed_that_PBMs_need_retail_pharmacies_to_fulfill_accessESI,_Medco _debut_ad"_from_DrugStoreNews.requirements.StatusoftheftCreviewquestionsOn_Sept.2,2011,_Express_Scri pts_and_Medco_each_received_aDuring_the_question_andrequest_from_the_fTC_for_additional_information( a_“secondanswer_session,_one“ihaveSaiDbeforethatihaverarelymetamergerthatilikeD,butthiSiSoneilikereq uest”)._The_companies_anticipated_a_second_request,_and_willcongressman_asked_whatmorethantheoneStha tiDon’tlike.“respond_as_promptly_as_practicable._Medco_has_been_andbenefits_of_having_bothcontinues_ to_work_collaboratively_with_the_fTC_staff._companies_would_go_away—CongreSSmananDSubCommitteemembe ras_a_result_of_the_merger._JohnConyerS,Jr.CautionaryStatementRegardingForward-LookingStatements:Thi sdocumentcontains“forward-lookingstatements“asthattermisdefinedinthePrivateSecuritiesLitigationRefor mActof1995.Thesestatements,astheyrelatetoMedcoHealthSolutions,Inc.orExpressScripts,Inc.,themanagemen tofeithersuchcompanyorthetransaction,involverisksanduncertaintiesthatmaycauseresultstodiffermaterial lyfromthosesetforthinthestatements.Noforward-lookingstatementcanbeguaranteed,andactualresultsmaydiff ermateriallyfromthoseprojected.MedcoandExpressScriptsundertakenoobligationtopubliclyupdateanyforward -lookingstatement,whetherasaresultofnewinformation,futureeventsorotherwise.Forward-lookingstatements arenothistoricalfacts,butratherarebasedoncurrentexpectations,estimates,assumptionsandprojectionsabou tthebusinessandfuturefinancialresultsofthepharmacybenefitmanagementandspecialtypharmacyindustries,an dotherlegal,regulatoryandeconomicdevelopments.Weusewordssuchas“anticipates,“believes,“plans,“expe cts,“projects,“future,“intends,“may,“will,“should,“could,“estimates,“predicts,“potential,” “continue,“guidance“andsimilarexpressionstoidentifytheseforward-lookingstatements.Actualresultscoul ddiffermateriallyfromtheresultscontemplatedbytheseforward-lookingstatementsduetoanumberoffactors,inc luding,butnotlimitedto,thepossibilitythat(1)MedcoandExpressScriptsmaybeunabletoobtainstockholderorre gulatoryapprovalsrequiredforthemergerormayberequiredtoacceptconditionsthatcouldreducetheanticipatedb enefitsofthemergerasaconditiontoobtainingregulatoryapprovals;(2)thelengthoftimenecessarytoconsummate theproposedmergermaybelongerthananticipated;(3)problemsmayariseinsuccessfullyintegratingthebusinesse sofMedcoandExpressScripts;(4)theproposedmergermayinvolveunexpectedcosts;(5)thebusinessesmaysufferasa resultofuncertaintysurroundingtheproposedmerger;and(6)theindustrymaybesubjecttofuturerisksthataredes cribedinSECreportsfiledbyMedcoandExpressScripts.Theforegoinglistoffactorsisnotexhaustive.Youshouldca refullyconsidertheforegoingfactorsandtheotherrisksanduncertaintiesthataffectthebusinessesofMedcoandE xpressScriptsdescribedintheirrespectiveAnnualReportsonForm10-K,QuarterlyReportsonForm10-Qandotherdoc umentsfiledfromtimetotimewiththeSecuritiesandExchangeCommission.AdditionalInformationandWheretoFindI tInconnectionwiththeproposedmerger,ExpressScripts,Inc.willfilewiththeSECaregistrationstatementonForm S-4thatwillincludeajointproxystatementofMedcoandExpressScripts,andaprospectusofExpressScripts,aswell asotherrelevantdocumentsconcerningtheproposedmerger.Stockholdersareurgedtoreadtheregistrationstateme ntandtheproxystatement/prospectuscontainedthereinregardingthemergerwhentheybecomeavailableandanyothe rrelevantdocumentsaswellasanyamendmentsorsupplem entstothosedocuments,becausetheywillcontainimportant information.Youwillbeabletoobtainafreecopyoftheproxystatement/prospectus,aswellasotherfilingscontain inginformationaboutMedcoandExpressScripts,attheSEC’sInternetsite(http://www.sec.gov).Youwillalsobeab letoobtainthesedocuments,freeofcharge,intheInvestorRelationsportionoftheMedcowebsiteathttp://www.med cohealth.comundertheheading“Investors“andthenunder“SECFilings.“Copiesoftheproxystatement/prospectusa ndtheSECfilingsthatwillbeincorporatedbyreferenceintheproxystatement/prospectuscanalsobeobtained,free ofcharge,bydirectingarequesttoInvestorRelations,100ParsonsPondDrive,FranklinLakes,NJ,07417,201-269-3 400.ParticipantsinSolicitationMedcoandExpressScriptsandtheirrespectivedirectorsandexecutiveofficersm aybedeemedtobeparticipantsinthesolicitationofproxiesfromthestockholdersofMedcoinconnectionwiththepro posedmerger.InformationaboutthedirectorsandexecutiveofficersofMedcoandtheirownershipofMedcocommonsto ckissetforthintheproxystatementfortheMedco2011annualmeetingofstockholders,asfiledwiththeSEConSchedul e14AonApril8,2011.InformationaboutthedirectorsandexecutiveofficersofExpressScriptsandtheirownershipo fExpressScriptscommonstockissetforthintheproxystatementfortheExpressScripts’2011annualmeetingofstock holders,asfiledwiththeSEConSchedule14AonMarch21,2011.Additionalinformationregardingtheinterestsoftho sepersonsandotherpersonswhomaybedeemedparticipantsinthemergermaybeobtainedbyreadingtheproxystatement /prospectusregardingtheproposedmergerwhenitbecomesavailable.Youmayobtainfreecopiesofthisdocumentasde scribedintheprecedingparagraph. |