OptumRx, the pharmacy benefit management subsidiary of Minnetonka, Minn.-based UnitedHealth Group, won a bid to manage New Jersey's roughly $2 billion drug benefit program for state employees.
OptumRx's three-year contract with New Jersey will commence Jan. 1, 2018. By shifting its pharmacy benefit manager from St. Louis-based Express Scripts to OptumRx, the state expects to save about $350 million in the agreement's first year. Savings are projected to reach $1.6 billion during the life of the contract, state officials said.
UnitedHealth has worked to expand its technology, consulting and healthcare delivery subsidiary Optum. Deerfield, Ill.-based Surgical Care Affiliates and Optum declared their merger earlier this year. In addition, UnitedHealth plans to acquire The Advisory Board's healthcare division, which provides consulting and research services.