Prime Therapeutics completed the acquisition of Magellan Rx from Centene for $1.35bn.

Prime Therapeutics, a management services company, completed the acquisition of Magellan Rx, a pharmacy benefits manager, from Centene, a publicly traded managed care company, for $1.35bn. "This is a timely and important move. As pharmacy costs balloon, bold action is necessary. By bringing together the capabilities and talents of Prime and Magellan Rx, we are positioned to deliver breakthrough value to the clients and members we serve. We are excited about the solutions our shared teams will bring to the industry as we strive to deliver progress against the Quadruple Aim," Ken Paulus, Prime Therapeutics CEO and President.