An article dated 8/8/2012 states that Express Scripts Holding Co., the largest US processor of drug prescriptions, raised its 2012 profit forecast as gross margins improved last quarter following its April acquisition of Medco Health Solutions, a $29 billion deal. This will give the company greater purchasing power and leverage to win clients, according to an analyst. Their shares have reached $60, and have risen 25% this year.
If you recall, Walgreens and Express Scripts parted ways earlier this year. However, now, the contract dispute over reimbursement rates has been settled, and clients will be able to include the retailer's pharmacies in their networks beginning September 15th.
This is good news for Walgreens, as other retailers were taking advantage of Express Scripts popularity and picking up the clients that Walgreens lost. Hopefully, those clients can once again be loyal to Walgreens.
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