Wednesday, December 30, 2015

This Scripts Post an Expre$$

"Express Scripts releases better-than-expected 2016 forecast" by Associated Press  December 23, 2015

ST. LOUIS — Companies like Express Scripts run prescription drug coverage for insurers, large employers, and other customers. They process mail-order prescriptions, handle bills for prescriptions filled at retail pharmacies, and make recommendations on drug coverage.

Express Scripts Holding Co. provides coverage for more than 80 million people and has been a frequent critic of soaring drug costs. The company has used its massive customer base as leverage to help rein in the price of certain drugs.

Earlier this month, the company said it would promote a less-expensive alternative to Daraprim, a life-saving medicine for a rare condition that costs $750 per pill, after Turing Pharmaceuticals bought rights to the drug and then raised the price more than fiftyfold. Express Scripts said that it will make a treatment that costs $1 per pill.

The company heads into 2016 facing a transition. Express Scripts announced in September that CEO George Paz will retire in May and be replaced by Tim Wentworth, company president. Paz will remain company chairman. He has served as Express Scripts chief executive for more than a decade....