United Health, which has significant operations in Connecticut, says it will spend $12 billion to buy a pharmacy benefits management company. Catamaran Corporation, based in Illinois, will be merged with United Health’s existing pharmacy benefits unit OptumRx.
The company says it expects the deal to boost its profits by 5 percent in 2016. Pharmacy benefits managers help negotiate drug prices with pharmaceutical companies for large company clients, and the sheer size of the deal has created some concern that it will weaken competition in the sector.
Hartford Claims Forecast
The Hartford Financial Services Group says that, according to its data, 40 percent of small businesses are likely to file a property casualty or liability claim in the next ten years. That comes from an analysis of claims carried out by the insurer. The company took a look at four years worth of claims data, encompassing more than a million separate incidents. The most common were for burglary and theft. Claims that resulted in the biggest payouts were for libel, slander or violations of privacy.
GE's Japanese Solar Play
General Electric is investing more in solar power in Japan. GE Energy Financial Service will partner with Virginia's Pacifico Energy to build a 96 megawatt solar power station in Southwest Japan. The plant is slated to come online in 2018. This is the third time the two partners have collaborated on solar projects in the country. By 2020, Japan aims to have 20 percent of its power come from renewable resources.