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Diversified Pharmaceutical Services entered the market in 1976 as the pharmacy benefit manager for United HealthCare, a leading managed care organization. [1] It pioneered many cost containment strategies that are now core pharmacy benefit manager services and became a recognized leader in clinical programs.[ citation needed]
Diversified Pharmaceutical Services (DPS) grew out of the pharmacy department within United Healthcare. [2]
The company was sold to SmithKline Beecham for $2.3 billion in May 1994. [3] In 1999, it was acquired by Express Scripts in 1999 for $700 million in cash to create what was then the third largest pharmacy benefit manager in the United States. [1]