PHILADELPHIA - A pharmacy benefit manager (PBM) waived its right to arbitrate antitrust claims against it by litigating the merits for 10 months, including its motion to dismiss, before filing a motion to compel arbitration, the Third Circuit U.S. Court of Appeals ruled Nov. 15, reversing a trial court order compelling arbitration (In re: Pharmacy Benefit Managers Antitrust Litigation [Bellevue Drug Co., et al. v. CaremarksPCS, et al.] MDL No. 1782, No. 12-1430, 3rd Cir.; 2012 U.S. App. LEXIS 23432).