A contract dispute between pharmacy benefits manager Express Scripts and its largest client, the health insurer WellPoint, should get resolved quickly but investors will likely overreact to the dustup, according to a Jefferies analyst.

Express Scripts, based in St. Louis, said Tuesday afternoon it was in the middle of a contract dispute with the Indianapolis insurer, and WellPoint has raised the possibility of litigation. But Express Scripts also said the companies are negotiating and it believes they can resolve the dispute.

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