Express scripts (ESRX) rose 2.7% in after-hours trading as the pharmacy benefit manager beat earnings expectations.
ESRX posted 79 cents of EPS, 2 cents better than expectations. The company also reaffirmed its earnings forecast and said that it expects to retain 95% of its prescription volume even without Walgreens (WAG) as a network provider. Walgreen saidlast month that it plans to end its contract with Express scripts, and will stop filing prescriptions managed by the company as of Jan. 1.
Express scripts said it expects the vast majority of clients to stick around, allowing claims to grow 0% to 2%.
“The Company expects client retention, based on prescription volume, to be greater than 97%,” it said.
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