Express Scripts Profit Down in Q1
By: Leon Castles
on Friday, May 11, 2012
Express Scripts is one of the popular companies in Saint Louis but declaring their financial results for the first quarter for 2012 the company said that their profits are down by 18% for this quarter. The company announced that they have made a profit of $267.8 million by the end of March 31. The company also said that they made around $326.5 million in the same quarter last year. Express Scripts have said that the drop in the profits is mainly because of the acquisition expenses that they have made and all the money that they have spent on deals.
However, the company is happy that they have improved their revenue by 9% in the first quarter of the year 2012. The company said that in the first quarter the company revenues was $12.13 billion compared to $11.1 billion that they earned in the first quarter of the year 2011. The company said that last month they had a merger with Medco Health Solutions Inc which is definitely one of the biggest mergers in the pharmacy market. The company said that the deal will allow the company to earn $100 billion in annual revenue. Sharing more about the deal they have with Medco, Express Scripts said that both the companies are outstanding organizations in pharmacy market and the deal will help Americans to make better use of prescription drugs available in the market.