77.01 0.00 (0.00%)
After hours: 5:24PM EDT
|Bid||67.00 x 1400|
|Ask||78.60 x 1800|
|Day's range||76.33 - 77.69|
|52-week range||55.80 - 85.07|
|PE ratio (TTM)||9.95|
|Earnings date||23 Jul 2018 - 27 Jul 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||87.76|
Last week, the Trump administration, via secretary of health and human services, Alex Azar, proposed that drug makers be required to include the list prices of drugs in all direct-to-consumer ads. In addition, payers are providing support for the prices being set. Just last week, Amgen announced that the price of its new migraine drug, Aimovig, would be set at $6,900 per year.
Biotech companies and pharmacy benefit managers defied the overall market trend, despite more noise about President Trump's drug plan.
ValueAct now holds 16.2 million Citigroup shares. In other major first-quarter moves, ValueAct exited its positions in Microsoft (MSFT) and pharmacy benefit manager Express Scripts (ESRX). Perhaps the writing was on the wall about Microsoft.
Healthcare investors who were on the edges of their seats on Friday afternoon were relieved. Share prices of potentially-affected “middlemen” such as pharmacy-benefit managers, and to a lesser extent health insurers, fell sharply but then rebounded within minutes in late trading. After all, Mr. Trump’s comments were characteristically vague and didn’t unveil any immediate action to cut drug spending that might harm the profitability of companies like Express Scripts Holding or CVS Health.
WASHINGTON—President Donald Trump unveiled dozens of initiatives aimed at curbing high drug prices Friday, a raft of modest moves that left the pharmaceutical industry relieved and buoyed their stocks. “We’re going to take on one of the biggest obstacles to affordable medicine: the tangled web of special interests,” Mr. Trump said from the White House Rose Garden.
Trump's plan to lower drug prices in the U.S. is "fair to all players" in the health-care industry, GOP Sen. Bill Cassidy argues.
President Donald Trump this afternoon unveiled his plan to crack down on high-priced drugs. Pharmaceutical industry investors were unfazed. In fact, the stocks of the firms he hit hardest—the "middlemen" known as pharmacy-benefit managers—jumped as traders saw little in the administration's program that could hurt PBM outfits like Express Scripts Holding (ESRX) and CVS Health (CVS), the parent of the benefit business Caremark.
U.S. President Donald Trump on Friday blasted drugmakers and healthcare "middlemen" for making prescription medicines unaffordable for Americans, but healthcare stocks rose as his administration avoided aggressive direct measures to cut prices. Trump made the remarks at the White House Rose Garden in a speech to introduce what he called "the most sweeping action in history" to lower drug prices. Trump said his administration would take aim at the "middlemen" in the drug industry who became "very, very rich," an apparent reference to health insurers and pharmacy benefit managers (PBMs).
Alex Azar, secretary of Health and Human Services, speaks as Donald Trump listens during an event on lowering drug prices outside the White House in Washington, D.C., U.S., on Friday, May 11, 2018. “We're very much eliminating the middlemen,” Trump said of his administration’s proposed “American Patients First” blueprint to lower prices.
Health care stocks whipsawed on Friday as President Donald Trump unveiled his long-awaited plan to lower prescription drug prices, dubbed "American Patients First."
Mallinckrodt's stock closed down more than 1 percent on Friday, in anticipation of the report being aired. But shares of the drug maker have since bounced back, closing up more than 6 percent Monday.
Shares of CVS Health Corp. and Express Scripts Holding Co. slipped Monday after one of the Trump administration’s top health-care officials said the companies’ roles as intermediaries between drugmakers and health plans was hurting patients. Known as pharmacy-benefit managers, or PBMs, the plans negotiate with drugmakers to put their products on lists of covered drugs in return for discounts, and steer patients toward options that they say save them and employers money. “PBMs are serving two customers -- being paid both by manufacturers for getting on formularies and by plans for managing their drug benefit.
It's been a campaign promise going back to 2015, from both sides of the political aisle, but nothing substantial has changed.
The top executive of health insurer Cigna Corp., which recently agreed to take over one of the largest pharmacy-benefit managers, said he’s ready for changes in how prescription drugs are priced and sold in the U.S. “The way rebates function in the marketplace are a manifestation of the way the pharmaceutical manufacturers have worked for quite some time,” Cigna Chief Executive Officer David Cordani said in an interview. Cigna agreed in March to acquire Express Scripts Holding Co. for $54 billion, in a wager that it could lower health-care costs by simplifying the drug supply chain.
Express Scripts (ESRX) witnesses year-over-year declines in patient claims in Q1, thanks to the loss of certain public sector clients.
Cigna chief executive David Cordani said investors should expect consistent earnings growth like the insurer reported Thursday once Express Scripts is part of the company. The price of Cigna’s shares is down about 10% since it announced plans to buy the large pharmacy benefit manager (PBM) Express Scripts for $54 billion on March 8. Investors are concerned about the PBM model generally and whether Cigna can improve Express Scripts' performance once part of the company.
Express Scripts Holding Co. is trying to lay low as regulators scrutinize Cigna Inc.’s plan to purchase the company. The pharmacy benefit manager (PBM) last week proposed a radical pricing shift for a new set of migraine medicines. You’d think these moves might soften regulators’ stance as they ponder the potential impact on consumers of the company’s $54 billion takeover by Cigna. But Express Scripts’ efforts to play the good guy may end up being good for appearances only.
The St. Louis-based company said it had profit of $1.10 per share. Earnings, adjusted for non-recurring costs, came to $1.77 per share. The results surpassed Wall Street expectations. The average estimate ...
Express Scripts Holding Co. shares slipped in the extended session Wednesday after the pharmacy-benefits manager's quarterly revenue and outlook fell below Wall Street estimates. Express Scripts shares declined 1.3% after hours, following a 2.4% decline to close at $74.05 in the regular session. For the year, Express Scripts estimates earnings of $9 to $9.14 a share, down from a previously estimated range of $9.27 to $9.47 a share, because it suspended its share buyback program owing to its pending merger with Cigna Corp. Analysts had forecast earnings of $9.30 a share.
Regeneron slipped to a four-year low Tuesday — prodding rival Amgen to also dip — after announcing a deal to cut the net price of its cholesterol drug.
Regeneron Pharmaceuticals Inc (NasdaqGS: REGN - news) and Sanofi SA will slash the price of their expensive cholesterol drug for Express Scripts Holdings Co customers in exchange for greater patient access, with some savings to be shared with consumers, the companies said on Tuesday. The drug, Praluent, has a list price of over $14,000 a year, but the new price, after discounts and double-digit rebates, is on the "low end" of a $4,500 to $6,600 range, Express Scripts Chief Medical Officer Steve Miller told Reuters. Praluent, given by injection, dramatically lowers bad LDL cholesterol and reduces the risk of heart attacks and death in high-risk heart patients.