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News Summary: Express Scripts 1Q profit slips

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The Associated Press | May 10, 2012 05:27 PM EST | AP


THE QUARTER: Pharmacy benefits manager Express Scripts Inc. said Thursday its profit dropped 18 percent in the first quarter. Its revenue grew 9 percent to $12.13 billion.

THE BIG DEAL: The St. Louis company's $29.1 billion purchase of former competitor Medco Health Solutions closed on April 2, days after the quarter ended. The purchase made Express Scripts the biggest PBM by a wide margin.

GOING FORWARD: Express Scripts expects an adjusted profit of $3.36 to $3.66 per share in 2012, and believes it will fill a combined 1.4 billion adjusted prescriptions.