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News Breaks
September 10, 2013
10:17 EDTCTRX, ESRXAnalyst says Express Scripts won't be hurt by private exchanges
Express Scripts (ESRX), which provides pharmacy benefit management services, is unlikely to be significantly hurt by private health insurance exchanges, research firm Jefferies believes. Investor worries about the impact of such exchanges on the company is overdone, the firm added. WHAT'S NEW: Following reports yesterday that several major companies are looking to place their retired workers into a private health insurance exchange, Jefferies analyst Brian Tanquilut wrote that such exchanges have been around for several years and have not significantly affected Express Scripts or its competitors. Moreover, many investors do not realize that Express Scripts' profit margins from the exchanges are not much lower than its margins from the large companies, Tanquilut contended. Finally, as a result of the shift of beneficiaries onto private exchanges, Express Scripts will have the opportunity to win new customers currently covered by its competitors, the analyst believes. He expects the stock to start advancing in the fourth quarter of this year and kept a Buy rating on the shares. WHAT'S NOTABLE: Express Scripts' stock fell slightly in an up market yesterday, as did shares of its competitor Catamaran (CTRX). TODAY'S PRICE ACTION: In early trading today, Express Scripts added 0.5% to $65 and Catamaran rose 0.45% to $45.60
News For ESRX;CTRX From The Last 14 Days
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November 23, 2015
08:08 EDTESRXBarron's article on Express Scripts a mischaracterization, says JPMorgan
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November 22, 2015
13:11 EDTESRXExpress Scripts' link to specialty drug makers presents new risk, Barron's says
Express Scripts' (ESRX) United BioSource unit -- often hired by specialty drug makers to help patients find money for costly treatments -- appears at odds with the company's role in negotiating lower drug prices, Barron's contends in a feature article. Though Express Scripts will continue to earn the "vast majority" of its profits as a pharmacy-benefit manager, Barron's argues that investors should view its work on behalf of specialty drug companies as a risk factor for the stock, particularly in light of recent Valeant (VRX) and Horizon (HZNP) headlines. Reference Link
November 20, 2015
18:58 EDTESRXExpress Scripts management to meet with JPMorgan
Meeting to be held in New York on November 24 hosted by JPMorgan.
November 18, 2015
15:40 EDTESRXCongressman says U.S. may need look at pharmacy competition, dealReporter says
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November 17, 2015
10:17 EDTESRXHouse Judiciary Committee to hold a hearing
The Subcommittee on Regulatory Reform, Commercial and Antitrust Law holds a hearing entitled, "The State of Competition in the Pharmacy Benefit Manager and Pharmacy Marketplaces" with Vice President Bricker of Express Scripts and Senior Vice President Pons of CVS Health on November 17 at 3 pm. Webcast Link
November 16, 2015
09:06 EDTESRXDiplomat seen as compelling amid specialty pharmacy fallout
Shares of specialty pharmacy operator Diplomat Pharmacy (DPLO) and pharmacy benefit manager Express Scripts (ESRX) have each been knocked down by the negative news surrounding the sector amid the troubles faced by Valeant (VRX) and others, but an analyst at Leerink contends in a note to investors that the pullbacks in both stocks provide buying opportunities. BACKGROUND: Drugmaker Valeant and its prior specialty pharmacy partner, Philidor Rx Services, have been at the center of the firestorm engulfing the sector. Following claims that Philidor urged its employees to modify prescriptions to ensure more orders of Valeant-branded drugs rather than generics, as well as other allegations of wrongdoing, Express Scripts (ESRX) and peer CVS Health (CVS) terminated Philidor from their networks. The day after those termination announcements, Valeant said that it was severing all ties with Philidor and that the pharmacy planned to shut down operations as soon as possible, consistent with applicable laws. Valeant has subsequently said that Philidor has committed to cease operations by January 30, 2016, at the latest. More recently, Express Scripts, the nation's largest pharmacy benefit manager, announced that it stopped doing business with Linden Care, accusing it of being a "captive" pharmacy that dispenses mostly products made by Horizon Pharma (HZNP). In turn, Horizon called the idea that Linden Care is a captive pharmacy "entirely false," stating that "at best Express Scripts is being reckless in its allegations and at worse it is intentionally attempting to mislead investors." Express Scripts' move also impacted shares of Insys Therapeutics (INSY), which reportedly also used Linden Care to fulfill prescription for its drugs. DIPLOMAT LIKELY TO STAY IN-NETWORK: Leerink analyst David Larsen acknowledged that recent events indicate that Express Scripts appears to be evaluating certain retail pharmacies and their relationships with manufacturers, but he believes Diplomat's mix of drugs for diseases like multiple sclerosis, HIV, hepatitis C and cancer differentiate it as a "true" specialty pharmacy. Larsen does not think Diplomat is at risk of being excluded from the pharmacy networks of Express Scripts, CVS or UnitedHealth's (UNH) Optum, he tells investors. Larsen expects limited distribution agreements to stay an important channel strategy for drugmakers and believes these agreements are appropriate for high cost specialty drugs that require special handling and additional services to manage patient adherence. The analyst, who thinks Diplomat remains well positioned to deliver annual growth of over 30% in the next several years, keeps an Outperform rating on its shares. EXPRESS BUYING OPPORTUNITY: Larsen also thinks concerns around manufacturer and pharmacy relationships have put unwarranted pressure on shares of Express Scripts. He does not expect Express Scripts to disclose new lawsuits around rebate dollars owed over other manufacturer disputes and keeps an Outperform rating on the stock, which he views as having an "attractive" valuation. WHAT'S NOTABLE: Larsen also thinks that the specialty channel remains an opportunity for Walgreens Boots Alliance (WBA) and believes its proposed acquisition of Rite Aid (RAD) can strengthen its specialty offering. The analyst keeps an Outperform rating on Walgreens shares as well. PRICE ACTION: Over the last three months, Diplomat Pharmacy shares have declined 28%, Express Scripts has fallen 6% and Walgreens has dropped 14%.
06:18 EDTESRXDiplomat Pharmacy selloff brings 'compelling' entry point, says Leerink
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November 12, 2015
05:23 EDTESRXStocks with implied volatility movement; HZNP ESRX
Stocks with implied volatility movement; Horizon Pharma (HZNP) 123, Express Scripts (ESRX) 32 according to iVolatility.

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