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As Merck prepares for the initial public offering of its pharmacy benefits unit, Medco Health Solutions, questions are being raised on the division's future profitability.
The bride, 31, works in Iselin, N.J., as a writer of brochures and other marketing materials for the executive benefits unit of the Metropolitan Life Insurance Company.
The health benefits unit of Merck & Company said yesterday that most of its customers who take the antidepressant Prozac had opted for the generic substitute that became available early this month.
Other variations impose tight caps, perhaps paying a maximum of $50,000 a year, versus $1 million for a standard plan, said Kerry Finnegan, head of the small-employer group at Mercer's health and benefits unit.
[F1.] Many Opting for Generic Prozac Merck's health benefits unit said that most of its customers who take the antidepressant Prozac had opted for the generic version that became available this month.
Merck said expenses related to Merck-Medco, its pharmacy benefits unit, helped drive the costs of materials and production 13percentt higher, as competition from makers of generic versions of its drugs eroded sales of older products like the heartburn drug Pepcid.
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In order to quality for the benefits, units have to be rent-stabilized," Mr. Scott said.
Cigna, the No. 3 health insurer, said it would eliminate 2,000 jobs and take a $65 million charge in the fourth quarter as it consolidates service operations in its employee health, life and disability benefits units.
The utilization rate of insurance benefits (hereafter, URB; i.e., the proportion of insurance benefits units effectively used by a recipient over the fixed limits of benefits defined by each certified care needs level in the Japanese LTCI system) depends on the care plan designed by the care manager and the family.
Sykes Enterprises, which runs customer-support centers for Microsoft and other companies, is selling its employee-benefits unit for $165.5 million in cash to a closely held investment company.
In the quarter a year earlier, Lilly had a gain of $174.3 million, or 16 cents a share, on the sale of its pharmacy-benefits unit and a pretax charge of $150 million, or 9 cents a share, for financing commitments to the Eli Lilly & Company Foundation.
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