With Cigna deal looming, Express Scripts posts double-digit profit growth

Health insurer Cigna said Thursday that its $52 billion acquisition of Express Scripts, the St. Louis County-based pharmacy benefits manager, is expected to close by the end of the year.

With the deal’s closure looming, Express Scripts on Wednesday posted third-quarter earnings 27 percent higher than a year ago.

Net income was $1.072 billion, or $1.89 per share, for the quarter ended Sept. 30. That was up from $842 million, or $1.46, in the same period last year.

Earnings per share adjusted for one-time gains and costs were $2.43, beating Wall Street expectations.

Express Scripts posted revenue of $25.56 billion, up 3.6 percent from a year ago. Revenue also beat Wall Street estimates.

Read more: St. Louis Post-Dispatch 


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