Express Scripts (ESRX) Tops Q1 EPS by 1c; Raises Outlook
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April 25, 2017 9:36 AM EDT
Morgan Stanley lowered its price target on Express Scripts (NASDAQ: ESRX) to $52.00 (from $71.00) while maintaining a Underweight rating, following news that Anthem intends move its PBM business from the company.
Analyst Ricky Goldwasser lowers estimates on the announcement, suggesting the competitive landscape could deteriorate,... More
April 24, 2017 4:13 PM EDT
Express Scripts (NASDAQ: ESRX) to Resume Trading at 4:45 PM ET
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April 24, 2017 4:07 PM EDT
Express Scripts Holding Company (Nasdaq: ESRX) said its current long-term PBM contract with Anthem expires on December 31, 2019, and Anthem is currently engaged in a Request for Proposal (RFP) process for a PBM service provider following the end of its contract with Express Scripts. While the Company has not formally participated in the RFP process, in recent months, management for the Company and Anthem have had several conversations in which the Company proposed providing as much as $1 billion in annual value ($3 billion in the aggregate) in the form of price concessions for 2017-2019 in connection... More
