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Merck & Co. to Spin Off Prescription Drug Benefits Manager.

By Linda Loyd, The Philadelphia In...uirer Knight Ridder/Tribune Business News

Aug. 6--Merck & Co. Inc. said yesterday it will spin off its Medco Health Solutions Inc. to Merck shareholders in two weeks, ending the pharmaceutical company's year-and-a-half long effort to unload its pharmacy benefits subsidiary.

Merck said its shareholders would receive 0.1206 shares of Medco common stock for each share of Merck common stock. The special dividend will be paid on Aug. 19, contingent on the Securities and Exchange Commission approval of Medco's registratio

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