Express Scripts and Centene shares fall on Amazon’s bid to tackle health care costs

Shares of Missouri health firms dropped Tuesday after Amazon’s announcement that it plans to tackle rising health care prices by forming a separate company with JPMorgan Chase and Co. and Berkshire Hathaway.

Express Scripts shares fell about 3 percent to $79.31 a share, and Centene was down 2 percent to $108.69 compared with Monday’s close.

News of Amazon potentially entering the health care business has previously rattled shares of the industry’s major players.

Express Scripts, one of the nation’s largest pharmacy benefit managers, or the middle man between drug makers and employers, said it’s interested to hear more about the deal.

Few details were released Tuesday, but Amazon, JPMorgan and Berkshire said the new company will be “free from profit-making incentives.”

Read more: St. Louis Post-Dispatch


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