TRENTON, N.J.--Medco Health Solutions Inc. shares rose more than 5percent in their debut on the New York Stock Exchange on Wednesday, aday after the pharmacy benefit manager was spun off by pharmaceuticalgiant Merck & Co.
About 270 million shares of Franklin Lakes, N.J.-based Medco weredistributed late Tuesday as a tax-free dividend to current Merckshareholders, who got roughly one Medco share for every eight Merckshares they own.
Trading under the ticker symbol MHS, the shares rose $1.37 toclose at $25.22. More than 8.7 million shares changed hands.
"It's being received well in the marketplace," said Daren Marhula,health care analyst at U.S. Bancorp Piper …
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