Medco Keeps UnitedHealth as Drug-Benefits Customer

Medco is hanging on to its biggest fish. The pharmacy benefits manager said this morning that insurance giant UnitedHealth Group will stick with Medco in a contract that lasts through the end of 2012. The previous pact was set to expire at the end of 2009, the companies say. The news sent Medco’s shares up 7% in morning trading, after there had been fear on Wall Street that United might take the drug-benefit job in-house. Cowen & Co. said in a report to investors that United represents 22% of