Medco Offers $1.5 Billion For PolyMedica

Pharmacy benefits management company Medco Health Solutions Inc. (MHS) offered $1.5 billion in cash to buy diabetes treatment supplier PolyMedica Corp. (PLMD). Shares of PolyMedica leaped $6.40 to close at $51.69 while Medco stock lost $1.00 to close at $85.11.