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Express Scripts Holding Company stock price
Express Scripts Holding Company latest news:
BRIEF-Avista Capital Partners To Acquire Express Scripts' Subsidiary United Biosource
Express Scripts Holding Co(ESRX): * AVISTA CAPITAL PARTNERS TO ACQUIRE EXPRESS SCRIPTS' SUBSIDIARY UNITED BIOSOURCE. * AVISTA CAPITAL PARTNERS TO ACQUIRE EXPRESS SCRIPTS' SUBSIDIARY UNITED BIOSOURCE. * Express Scripts Holding Co(ESRX) - AVISTA SIGNED DEFINITIVE AGREEMENT TO ACQUIRE UNITED BIOSOURCE, A SUBSIDIARY OF CO Source text for Eikon: Further company coverage:
Amazon homing in on medical devices/supplies, not pharma: Jefferies
The possibility of online retailer Amazon.com Inc. entering the pharmaceutical industry has sent the stocks of drug distributors and pharmacy-benefit managers quaking in recent months, but a new report from Jefferies analysts suggests that Amazon is instead homing for the medical devices and supplies industries. Correspondence between two state pharmacy boards and Amazon reveals that those state licenses can only be used for medical device and supplies distribution, the Jefferies report said, based on information that was obtained through a Freedom of Information Act request. This direction was likely chosen to avoid "the more comprehensive regulatory requirements associated with the Wholesale Drug Distribution Act," Jefferies analyst Brian Tanquilut said. That has created an overhang on stocks like AmerisourceBergen Corp. , Cardinal Health Inc. , McKesson Corp. , Express Scripts Holding Co. , CVS Health Corp. and Walgreens Boots Alliance Inc. ; "Unfortunately, we believe only time will refute these investor concerns," he said. Amazon shares have surged 15% over the last three months, compared with a 4.5% rise in the S&P 500 and a 6.6% rise in the Dow Jones Industrial Average .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Drug stocks drop after report that Amazon has obtained pharmacy licenses
The stocks of companies in the pharmaceutical supply chain dropped in Thursday afternoon trade after a report by the St. Louis Post-Dispatch that online retailer Amazon has obtained approval to become a wholesale distributor in a number of states. Amazon has received approval in at least 12 states, the St. Louis Post-Dispatch reported. Speculation about an Amazon pharmacy entry has swirled since a CNBC report on the subject earlier this year, but Amazon has repeatedly declined to comment on or confirm any interest in pharmacy. Such a move would likely threaten a number of industry players, including drug wholesalers, pharmacy chains and pharmacy-benefit managers, middlemen that negotiate drug prices. Rite Aid Corp. shares dropped 5.6% in Thursday afternoon trade, CVS Health Corp. shares dropped 4.8%, Express Scripts Holding Company shares dropped 3.5%, McKesson Corp. shares dropped 3.4%, AmerisourceBergen Corp. shares dropped 4.4%, Walgreens Boots Alliance shares dropped 3.7% and Cardinal Health Inc. shares dropped 2.5%, compared with a 0.2% rise in the S&P 500 . Many of the stocks have plunged in the last several months on concerns about Amazon. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE 4-Health insurer Anthem takes pharmacy business in house, taps CVS to help
Oct 18 (Reuters) - Health insurer Anthem Inc will
start managing its billions of dollars of patient prescriptions
itself in 2020, it said on Wednesday, ending a deal with Express
Scripts Holding Co that had deteriorated into lawsuits
Anthem will turn to CVS after troubled Express Scripts deal
Anthem has found a new partner to help run prescription drug coverage after the Blue Cross-Blue Shield insurer's rocky relationship with Express Scripts ends
UPDATE: Express Scripts shares drop 2.5% on $3.6 bln eviCore acquisition
Express Scripts Holding Company shares dropped 2.5% premarket on news that the company has agreed to buy privately-held medical benefit management company eviCore healthcare for $3.6 billion. The deal is expected to close in the fourth quarter and should grow Express Scripts' adjusted diluted earnings-per-share in the first full year of operation, the company said. Express Scripts, the largest stand-alone pharmacy-benefits manager, said that the acquisition is "an attractive entry point into a growing market" and noted that eviCore manages medical benefits for 100 million people. The two companies will be "uniquely positioned" to improve health care outcomes, said eviCore Chief Executive John Arlotta. Express Scripts is one of several companies in the pharmaceutical drug supply chain that could be threatened by an entry from online retailer Amazon. A decision from Amazon is reportedly expected by Thanksgiving. Express Scripts shares have plummeted 4.2% over the last three months, compared with a 4.8% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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