McDermott Represents Prime Therapeutics in its $1.35 Billion Acquisition of Magellan RX
International law firm McDermott Will & Emery represented Prime Therapeutics LLC, a pharmacy benefits manager, in its $1.35 billion definitive agreement with Centene Corporations to acquire Magellan RX Management, a division of Magellan Health, Inc., a next-generation pharmacy organization that is delivering meaningful solutions to the people they serve.
The transaction was announced on May 5, 2022, and subject to regulatory approvals, is expected to close in late 2022.
Combining Prime’s fully transparent and channel-independent model with Magellan Rx’s industry-leading portfolio of medical pharmacy solutions is expected to create a new specialty drug management model — one that uniquely aligns and integrates with providers and harnesses the patient and provider relationship to meet patients where they are in their care journey.
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