HEALTH
From Times Staff and Wire Reports
FTC Approves Merck’s Purchase of Medco: Merck & Co. said it will proceed with its $6-billion takeover of Medco Containment Services Inc. after the Federal Trade Commission said it will not challenge the acquisition. Medco is the nation’s largest provider of prescription drug mail service to employer-funded health plans. The acquisition was announced in July. Shares of Medco climbed $1.25 to $38.25 on the Nasdaq market, while Merck was off 12.5 cents at $32 on the New York Stock Exchange. Medco stockholders will vote on the merger Nov. 18.
