Express Scripts Falls After Calling Estimates Aggressive
This article is for subscribers only.
Express Scripts Holding Co., the largest U.S. pharmacy benefits manager, plunged the most in a decade after saying analysts’ estimates for profit growth in 2013 are “overly aggressive.”
Express Scripts tumbled 12 percent to $55.15 at 4 p.m. New York time, the most since May 2002, after the company said in statement yesterday that a “weak business climate and the unemployment outlook” may lead to a loss of members, depressed drug utilization and “increased client demands.” Analysts had expected the St. Louis-based company to have profit of $4.50 a share next year, according to the average of 22 estimates compiled by Bloomberg.