WASHINGTON — Two major companies in a prominent $1.4 billion Asia investment fund managed by New York banking giant Morgan Stanley unexpectedly told securities regulators they will not file their financial statements on time and froze trading in their stocks, actions generally considered to be cause for concern.

The fund’s American investors include the Oregon public employees’ retirement.

Insurer buying drug benefits manager

The nation’s largest health insurer, UnitedHealth, has muscled up in its fight against rising specialty drug costs, spending more than $12 billion to buy pharmacy benefits manager Catamaran Corp.

Pharmacy benefits managers, or PBMs, process claims and run prescription drug plans for insurers, employers and other customers. They help negotiate prices customers and insurers pay for drugs and are seen as a key component in the push to contain rising drug costs.