Express Scripts Profits Rise After Medco Purchase

Express Scripts reported net income of $1.33 billion for 2012, up 4 percent from 2011, and revenue of nearly $94 billion, more than double from the previous year. The St. Louis-based company attributed the boost to the $29.1 billion Medco deal, which created the nation’s largest pharmacy benefits manager. Earlier this month, nearly 200 employees across both the Express Scripts and Medco Health Solutions operations were slated to receive salary cuts. In January, Express Scripts laid off 330 employees nationwide across 55 sites.

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