Express Scripts Inc. (ESRX), facing congressional scrutiny over its bid for Medco Health Solutions Inc. (MHS), plans to tell lawmakers the $29.1 billion deal would preserve competition and lower costs while improving patient care. The combined company would control less than a third of U.S. pharmacy-benefits sales, Express Scripts Chief Executive Officer George Paz said in written testimony prepared for a House Judiciary subcommittee hearing today. “By our estimates, the combined historical shares of the companies would be approximately 30 percent,” Paz said in his prepared remarks. “This range falls well inside the parameters of mergers which have passed antitrust regulatory review.”
