Drug Manager Can't Stop Its Takeover Habit

Boosted by a string of takeovers, pharmacy-benefit manager Catamaran Corp. is growing at a pace that most companies would envy.

Revenue is expected to have surged to about $10 billion during 2012 from $80.9 million in 2006. That rapid growth offers both promise and peril for Chief Executive Mark A. Thierer. He predicts revenue will surpass $13 billion this year, but sees inadequate integration of takeovers as a potential danger.

The Lisle, Ill.-based Catamaran was created last July after SXC Health Solutions bought rival Catalyst Health Solutions. The roughly $4 billion marriage of midsize concerns created the industry's fourth-biggest player ...

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