AdvancePCS Inc. was a large prescription benefit plan administrator from the USA, also known as a PBM (Pharmacy Benefit Manager)

Pharmacy Benefit Management

In the United States, a Pharmacy Benefit Manager is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. They also are responsible for developing and maintaining the formulary, contracting with pharmacies,...

.

The company was partially purchased by McKesson in 1969 and fully in 1972. In 1994, the company was sold to Lilly

Eli Lilly and Company

Eli Lilly and Company is a global pharmaceutical company. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States...

 for $4.4 billion. Rite-Aid purchased AdvancePCS for $1.5 billion in 1999, but sold to Advance Paradigm a year later for $1 billion. In 2003, Caremark

Caremark Rx

Caremark Pharmacy Services is the prescription benefit management subsidiary of CVS Caremark Corporation, headquartered in Woonsocket, Rhode Island and Nashville, Tennessee.-Company history:...

 bought AdvancePCS for $5.3 billion, and CVS acquired Caremark in 2007 in a $26.5 billion deal.

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