Catamaran recent sell-off overdone, says Jefferies Jefferies views the recent sell-off in shares of Catamaran as overdone. The firm attributes the move to concerns about the company's ability to meet Q1 consensus and win new contracts. Jefferies expects Catamaran shares to bounce back to the mid-$40s soon after the Q1 report and it keeps a Buy rating on the stock.
Catamaran to acquire Salveo Specialty Pharmacy for $260M in cash Catamaran announced that it has entered into a definitive agreement to acquire Salveo Specialty Pharmacy, an independent specialty pharmacy company headquartered in St. Petersburg, Florida with business operations in New York and California. Salveo manages approximately $400M in annual drug spend. The purchase price of $260M in cash represents a purchase price multiple of approximately 13x Salveo's trailing-twelve-month EBITDA and is expected to be funded through cash on the balance sheet. This acquisition is expected to be completed during Q4.