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- Ex-GSK CEO Andrew Witty is stepping in as the head of UnitedHealth Group’s Optum unit.
- Witty, a board member of UnitedHealth will become CEO on July 1 and plans to step down from the board immediately.
- Pharmacy benefit managers like Optum are responsible for negotiating lower drug prices for insurers and employers via rebates.
(Reuters) – Health insurer UnitedHealth Group Inc on Tuesday named its board member and former GlaxoSmithKline Plc head Andrew Witty as chief executive of its pharmacy benefit unit, Optum, effective July 1.
Optum’s current CEO Larry Renfro will lead the investment initiatives of the unit through an expanded Optum Ventures, the company said.See the rest of the story at Business Insider
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