|Bid||65.24 x 0|
|Ask||66.20 x 0|
|Day's Range||65.24 - 65.24|
|52 Week Range||48.03 - 67.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
A federal judge on Tuesday dismissed a lawsuit brought against Express Scripts Holding Co by shareholders who accused the pharmacy benefits manager of inflating its share price by hiding its deteriorating relationship with its largest customer, Anthem Inc. U.S. District Judge Edgardo Ramos in Manhattan, who dismissed an earlier version of the lawsuit last August, said shareholders failed to support their claim that Express Scripts knowingly misled them. Unlike last year, Ramos did not leave the shareholders permission to file a new version of their case.
Signs abound that the Trump administration plans to take tough action against pharmacy benefit managers, or PBMs, including CVS Health Corp (NYSE:CVS) and Express Scripts Holding Company (NASDAQ:ESRX), in order to lower the price of prescription drugs. Consequently, investors should sell CVS stock and Express Scripts stock. The clearest sign of the impending fate of the PBMs is that President Trump himself said that the administration was “very much eliminating” the prescription drug “middlemen.” Trump added that “The middlemen became very, very rich.
WASHINGTON/NEW YORK, May 14 (Reuters) - The Trump administration is considering expanding Medicare's ability to negotiate the cost of drugs by giving private payers a role in setting the price of medicines administered in hospitals and doctors' offices, Health and Human Services Secretary Alex Azar said on Monday. Azar's comments provided more details on the plan to lower prescription drug costs for Americans announced on Friday by President Donald Trump. While Trump assailed "middlemen," an apparent reference to health insurers and pharmacy benefit managers (PBMs), for pocketing negotiated rebates on drugs rather than passing savings to consumers, the proposal discussed on Monday appears to see them as part of the solution to high prices.
Healthcare investors who were on the edges of their seats on Friday afternoon were relieved. Share prices of potentially-affected “middlemen” such as pharmacy-benefit managers, and to a lesser extent health insurers, fell sharply but then rebounded within minutes in late trading. After all, Mr. Trump’s comments were characteristically vague and didn’t unveil any immediate action to cut drug spending that might harm the profitability of companies like Express Scripts Holding or CVS Health.
WASHINGTON—President Donald Trump unveiled dozens of initiatives aimed at curbing high drug prices Friday, a raft of modest moves that left the pharmaceutical industry relieved and buoyed their stocks. “We’re going to take on one of the biggest obstacles to affordable medicine: the tangled web of special interests,” Mr. Trump said from the White House Rose Garden.
President Trump delivered a highly-anticipated speech on lowering the cost of drugs for Americans on Friday afternoon.
Five months in, 2018 has not been kind to Cigna Corporation (NYSE:CI) stock. A strong run in which CI stock doubled between the November 2016 election and late January reversed quickly. CI stock now is off some 25% from its all-time highs reached a little over three months ago — and down more than 15% so far this year while the broader S&P 500 Index is up a hair above 1%.
CVS Health Corp (NYSE:CVS) reported Q1 earnings, the shares are back to where they started, despite a bit of a roller-coaster ride. The Woonsocket, Rhode Island-based healthcare services company beat earnings estimates but missed on revenue. With its pending acquisition of Aetna, CVS starts a new chapter (maybe a whole book).
Shares of CVS Health Corp. and Express Scripts Holding Co. slipped Monday after one of the Trump administration’s top health-care officials said the companies’ roles as intermediaries between drugmakers and health plans was hurting patients. Known as pharmacy-benefit managers, or PBMs, the plans negotiate with drugmakers to put their products on lists of covered drugs in return for discounts, and steer patients toward options that they say save them and employers money. “PBMs are serving two customers -- being paid both by manufacturers for getting on formularies and by plans for managing their drug benefit.
Warren Buffett on Saturday said he hoped a chief executive would be found within a couple of months for the healthcare company being set up by Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co. to lower patient costs. Speaking at the annual shareholder meeting of his Berkshire Hathaway Inc conglomerate, Buffett maintained that healthcare is a "tapeworm" on American businesses, hurting their ability to compete with rivals in other countries. While there is no guarantee the venture between Amazon.com, Berkshire and JPMorgan, which collectively employ more than 1 million people, will succeed, Buffett said it is well positioned to try.
The top executive of health insurer Cigna Corp., which recently agreed to take over one of the largest pharmacy-benefit managers, said he’s ready for changes in how prescription drugs are priced and sold in the U.S. “The way rebates function in the marketplace are a manifestation of the way the pharmaceutical manufacturers have worked for quite some time,” Cigna Chief Executive Officer David Cordani said in an interview. Cigna agreed in March to acquire Express Scripts Holding Co. for $54 billion, in a wager that it could lower health-care costs by simplifying the drug supply chain.
Cigna Corp reported a better-than-expected quarterly profit and raised its full-year forecast on Thursday, but investors remained concerned about its planned $52 billion acquisition of Express Scripts Holding Co , sending shares 2.6 percent lower. Chief Executive Officer David Cordani said during a conference call with analysts he expected the deal for the pharmacy benefits manager to close this year. Cigna shares fell $4.42 to $167.94, and have fallen more than 10 percent since the deal was announced in March.
Express Scripts (ESRX) witnesses year-over-year declines in patient claims in Q1, thanks to the loss of certain public sector clients.
Pfizer’s drug Viagra coming off patent protection is still the biggest headwind for PFE stock at the moment. PFE lost its exclusivity for Viagra in December and is the primary reason for the company reporting revenues dropping 2% operationally.
Express Scripts Holding Co. is trying to lay low as regulators scrutinize Cigna Inc.’s plan to purchase the company. The pharmacy benefit manager (PBM) last week proposed a radical pricing shift for a new set of migraine medicines. You’d think these moves might soften regulators’ stance as they ponder the potential impact on consumers of the company’s $54 billion takeover by Cigna. But Express Scripts’ efforts to play the good guy may end up being good for appearances only.
Health insurer Cigna Corp, which is in the process of buying Express Scripts Holding Co, reported a 53 percent rise in quarterly profit, helped by higher enrollments. The company's net income rose to $915 ...
The St. Louis-based company said it had profit of $1.10 per share. Earnings, adjusted for non-recurring costs, came to $1.77 per share. The results surpassed Wall Street expectations. The average estimate ...
Express Scripts Holding Co. shares slipped in the extended session Wednesday after the pharmacy-benefits manager's quarterly revenue and outlook fell below Wall Street estimates. Express Scripts shares declined 1.3% after hours, following a 2.4% decline to close at $74.05 in the regular session. For the year, Express Scripts estimates earnings of $9 to $9.14 a share, down from a previously estimated range of $9.27 to $9.47 a share, because it suspended its share buyback program owing to its pending merger with Cigna Corp. Analysts had forecast earnings of $9.30 a share.
ST. LOUIS , May 2, 2018 /PRNewswire/ -- Express Scripts Holding Company (Nasdaq: ESRX) announced consolidated 2018 first quarter net income of $623.2 million or $1.10 per diluted share. Consolidated 2018 ...
Express Scripts Holding Co's decision to exclude Repatha from its national list of covered drugs, which is followed by thousands of corporations and health plans, impacts 2,000 patients now on Amgen's ...
A rare ceasefire has been declared in the battle over the nation’s drug prices. Express Scripts Holding Co., one of the biggest U.S. pharmacy-benefit managers, agreed to ease restrictions on a novel cholesterol-cutting therapy after its manufacturers, Regeneron Pharmaceuticals Inc. and Sanofi, lowered its $14,600-a-year price. The deal is the first struck since the March announcement by Regeneron and Sanofi that they would cut the price of their drug, Praluent, in exchange for better access to patients.
Prescription drug costs represent a significant portion of workers’ compensation medical costs.