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News Breaks
February 14, 2012
10:39 EDTESRX, MHSExpress Scripts, Medco climb after report says FTC likely to approve deal
The Federal Trade Commission, or FTC, staff is expected to recommend that the regulator approve Express Scripts' (ESRX) proposed acquisition of its pharmacy benefit management rival, Medco (MHS), according to market intelligence journal MLex, which cited unnamed sources. However, the FTC may still mount a legal challenge to the deal, adds the publication. The agency has been challenging healthcare mergers, and has been especially vigilant in its regulation of the pharmacy benefit management sector, notes MLex. The issue is likely to be decided by FTC Chairman Jon Leibowitz, who worked as Senator Herb Kohl's leading antitrust advisor for years, the publication said. In mid-morning trading, Medco rose $1.39, or 2.28%, to $62.33, while Express Scripts climbed $1.45, or 2.91%, to $51.24.
News For MHS;ESRX From The Last 14 Days
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May 1, 2015
15:14 EDTESRXExpress Scripts in settlement pact related to alleged Novartis kickbacks
Accredo Health, a wholly-owned subsidiary of Express Scripts (ESRX), entered a settlement and dismissal agreement with United States Attorney for the Southern District of New York, Preet Bharara, related to Accredo's alleged involvement in Novartis's (NVS) alleged participation in a kickback scheme involving Exjade, according to a court filing. In settlement of the United States' claims against Accredo in this action, Accredo shall pay to the United States a sum just over $45M, according to the court filing. A recent filing with the SEC noted that a total of $60M was set aside by Express Scripts to resolve the allegations with the federal government and all 50 states and a company spokesman confirmed the settlement involves $60M, according to The Wall Street Journal. Reference Link
April 30, 2015
14:27 EDTESRXOmnicare attracts interest from CVS Health, Express Scripts, Bloomberg says
Omnicare (OCR) is attracting interest from Express Scripts (ESRX), and CVS (CVS), with other potential buyers including Walgreens Boots Alliance (WBA) and McKesson (MKC), Bloomberg reports, citing people with knowledge of the matter. Initial bids are due in May. Reference Link
14:12 EDTESRXOmnicare said to attract interest from CVS Health Express Scripts
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05:25 EDTESRXExpress Scripts announces 55.1M share ASR
Express Scripts announced that it has entered into an accelerated share repurchase, or ASR, agreement with Morgan Stanley. Under the terms of the ASR agreement the company will receive an aggregate initial delivery of approximately 55.1M shares of the company's common stock in exchange for a prepayment of $5.5B. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the company's common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreement. The final settlement of the transaction under the ASR agreement is expected to occur by the end of 2Q16 but may be accelerated at the option of Morgan Stanley to a date as early as 1Q16.
April 28, 2015
19:10 EDTESRXOn The Fly: After Hours Movers
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16:03 EDTESRXExpress Scripts sees Q2 adjusted EPS $1.39-$1.43, consensus $1.37
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16:03 EDTESRXExpress Scripts sees 2015 adjusted EPS $5.37-$5.47 vs. previous $5.35-$5.49
Consensus $5.43. It said, "The Company narrowed its adjusted earnings per diluted share guidance from a range of $5.35 to $5.49 to a range of $5.37 to $5.47, which maintains the mid-point of $5.42. The new guidance range represents growth of 10% to 12% over 2014."
16:02 EDTESRXExpress Scripts reports Q1 adjusted EPS $1.10, conensus $1.10
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15:06 EDTESRXNotable companies reporting after market close
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April 23, 2015
13:16 EDTESRXPharmacies, PBMs seen as potential buyers after Omnicare said to explore sale
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12:08 EDTESRXLeerink healthcare services analyst holds analyst/industry conference call
Healthcare Services Analyst Larsen, along with Mary Ptacek, VP of Pharmaceutical Strategies Group and Ruth Krystopolski, EVP of Sanford Health, discuss the 2016-2017 Pharmacy Benefit Managers selling season and which PBMs are poised to gain share, the impact of WBAs growth plans, recent M&A activity and biosimilars on an Analyst/Industry conference call to be held on April 24 at 2 pm.

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