Express Scripts outlook for 2016 sends shares flying

1 year 3 months 1 day ago December 22, 2015 Dec 22, 2015 Tuesday, December 22 2015 Tuesday, December 22, 2015 9:12:34 AM CST in News
By: The Associated Press

ST. LOUIS (AP) — Express Scripts is projecting 2016 earnings that surpass Wall Street expectations, sending shares of the nation's largest pharmacy benefits manager sharply higher before the opening bell.

The St. Louis company said Tuesday that it expects adjusted earnings next year to range between $6.08 and $6.28 per share.

FactSet says the low end of that range is three cents better than the average analyst forecast.

Companies like Express Scripts run prescription drug coverage for insurers and large employers. 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 reign in the price of certain drugs.

 

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