Question-and-Answer Session
Operator
Thank you. (Operator Instructions) Our first question come from Charles Boorady with Citi. Go ahead please
Charles Boorady – Citi
Thank you. Good morning. My first question just relates to the transaction and how customers are receiving news of that transaction, specifically are you finding it harder to convince new customers to sign on for next year in light of the major new win?
George Paz
Couple of points I'll make there. First of all, I think the added scale size and opportunities that this transaction brings to us is something that most every business understands and I think they, we've not heard any negative comment from, we haven't heard any negative comments from any one regarding this opportunity. When you talk about integration, implementations, I really do believe that is Express Scripts' strength. We've been at this, since really about 1998, when we bought ValueRx, we've improving and refining the way we integrate platforms and customers and make sure that we get the best of both entities and make that our final offering. In addition to that, we've spent millions of dollars and numerous resources in improving the implementation process. Back in the early days of PBMs in the late 90’s, throughout the 90s and the early 2000 timeframe, one of the biggest impediment to getting a new client was what they perceived to be the risk of change. One of the things we took on at Express Scripts was to take that risk out of the equation and make sure that implementations were run smooth and just focus on the member through that process. I think that's paid huge dividends for us and we've got an incredible track record of bringing up new clients, large clients, and sustaining both higher levels of service, but also improved performance. So, we really haven't heard any negatives in the marketplace regarding our acquisition.
Charles Boorady – Citi
And final question just on health reform, do you have a outlook for how by generic or by a similar legislation specifically will play out?
George Paz
There is an awful lot of money being spent on that issue. We are spending a tremendous amount of time on this item we have a staff of individuals in Washington D.C. that are really trying to get out in front of Congress and talk to them about the value that will be derived through a biosimilar bill, our Chief Medical Officer, Dr. Miller spends a considerable amount of time talking specifically with the staffers and the key legislators as this unfolds. It's hard to say. There is an awful lot of money at stake an awful lot of healthcare opportunities at stake. And some of those are contrary to each other. So I do believe that we’ll give it our best shot, I think the real determination obviously is going to happen when it gets into committee. The White House is supporting, the administration is supporting a shorter period, obviously we are supporting that, biopharma is supporting a longer period and ever greening. So we will definitely keep you posted on this and we will do our best to get an outcome that's right for America at large
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