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News Breaks
April 19, 2014
18:41 EDTESRXExpress Scripts awarded 7-year TRICARE Pharmacy Program contract
The U.S. Department of Defense awarded Express Scripts administration of the TRICARE Pharmacy Program, Fourth Generation, TPharm4, contract serving approximately 10M beneficiaries. The seven-year contract will include administering a retail pharmacy network, operating the TRICARE Mail Order Pharmacy and providing specialty pharmacy services effective May 1, 2015. Express Scripts has been providing the DoD's home delivery and retail pharmacy network services since 2003 and 2004, respectively, adding specialty pharmacy in 2009. Express Scripts' technical and administrative services will expand under the TPharm4 contract, as the company will serve the pharmacy needs of the military worldwide, including Military Treatment Facilities.
News For ESRX From The Last 14 Days
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May 29, 2015
09:16 EDTESRXBofA/Merrill healthcare tech analyst holds analyst/industry conference call
Analyst Willoughby discusses relevant themes across the Healthcare Distribution & Technology subsectors on an Analyst/Industry conference call to be held on June 1 at 11 am.
May 21, 2015
11:08 EDTESRXExpress Scripts management to meet with Jefferies
Meeting to be held in New York on May 26 hosted by Jefferies.
09:38 EDTESRXExpress Scripts starting to win some business, says Cleveland Research
Cleveland Research is hearing Express Scripts won the state of South Carolina business and renewal rates remain strong and on track to achieve guidance of 94%-97%.
May 20, 2015
11:51 EDTESRXExpress Scripts' Medco to pay $7.9M to resolve kickback allegations
Medco Health Solutions, a wholly-owned subsidiary of the pharmacy benefit manager Express Scripts Holding Company (ESRX), of Missouri, has agreed to pay the government $7.9M to settle allegations that it engaged in a kickback scheme in violation of the False Claims Act, the Justice Department announced. Medco provides pharmacy benefit management services to clients who receive subsidies under the Medicare Retiree Drug Subsidy program. The settlement resolves allegations that Medco solicited remuneration from AstraZeneca, a pharmaceutical manufacturer, in exchange for identifying Nexium as the “sole and exclusive” proton pump inhibitor on certain of Medco’s prescription drug lists known as formularies. The United States alleged that Medco received some or all of the remuneration from AstraZeneca in the form of reduced prices on the following AstraZeneca drugs: Prilosec, Toprol XL and Plendil. The United States contended that this kickback arrangement between Medco and AstraZeneca (AZN) violated the Federal Anti-Kickback statute, and thereby caused the submission of false or fraudulent claims for Nexium to the Retiree Drug Subsidy Program. In January 2015, the United States and AstraZeneca reached a $7.9M settlement to resolve kickback allegations arising out of the same conduct. This civil settlement resolves a lawsuit filed under the qui tam, or whistleblower, provision of the False Claims Act, which allows private citizens with knowledge of false claims to bring civil actions on behalf of the government and to share in any recovery. The lawsuit was filed by former AstraZeneca employees Paul DiMattia and F. Folger Tuggle, whose share of the settlement has not been determined. The settlement with Medco was the result of a coordinated effort among the Civil Division, the U.S. Attorney’s Office of the District of Delaware and HHS-OIG.
10:00 EDTESRXOn The Fly: Analyst Initiation Summary
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May 19, 2015
16:41 EDTESRXExpress Scripts initiated with a Neutral at Baird
Target $94.

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