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Article: Medco Health 3Q profit jumps 13.5 percent
- Article from:
- AP Online
- Article date:
- November 3, 2009
- Author:
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Medco Health Solutions Inc., the largest U.S. pharmacy benefits manager, said Tuesday its profit rose 13.5 percent as the company gained new clients and benefited from price inflation of brand-name drugs.
The company earned $335.6 million, or 69 cents per share, up from $295.7 million, or 58 cents per share, a year prior. Excluding charges, the company said it earned 75 cents per share. Revenue surged 18 percent to $14.79 billion from $12.56 billion.
Analysts polled by Thomson Reuters expected 72 cents per share in profit from $14.68 billion in revenue.
Medco, headquartered in Franklin Lakes, N.J., said adjusted prescriptions increased 14 percent to 220.2 million. That ...