Express Scripts reported a 20 percent boost in profit for the third quarter, but executives for the pharmacy benefit manager cautioned that the company faces a weaker outlook heading into 2013, and its shares plunged in aftermarket trading.
Express said in a statement "the current weak business climate and the unemployment outlook" could restrain performance next year. "Despite near-term headwinds and a challenging macroeconomic environment, we remain confident we are well-positioned for continued growth," said Express CEO George Paz.
Pharmacy benefits managers, or PBMs, run prescription drug plans for employers, insurers and other customers. They process mail-order prescriptions and handle bills for prescriptions filled at retail pharmacies.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
