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FINANCIAL ASTROLOGY

First Trade Date for Express Scripts, Inc.

 

 

Company NameFirst Trade Date (yyyy-mm-dd)
Express Scripts, Inc.1992-06-09

Company NameSymbol
Express Scripts, Inc.ESRX
History and Business of Company
(this information may include date of incorporation)
Express Scripts, Inc. (ESRX) is a pharmacy benefits management company (PBM) which provides a combination of benefit management services, including retail drug card programs, mail pharmacy services, drug formulary management programs and other clinical management programs for approximately 9,300 clients that include HMOs, health insurers, third-party administrators, employers and union-sponsored benefit plans.

ESRX believes it is the third largest PBM in North America and the largest full-service PBM independent of pharmaceutical manufacturer or drug store ownership in North America. The company believes independence from pharmaceutical manufacturer ownership allows it to make unbiased formulary recommendations to clients, balancing both clinical efficacy and cost; and independence from drug store ownership allows the company to construct a variety of convenient and cost-effective retail pharmacy networks for clients, without favoring any particular pharmacy chain.

As of Jan. 1, 2001, some of the company's largest clients included United HealthCare Corp. (UHC), Aetna U.S. Healthcare, Oxford Health Plans, Blue Cross Blue Shield of Massachusetts, Blue Shield of California, the State of Georgia and Mutual of Omaha. As of Jan. 1, 2001, the company's PBM services were provided to approximately 43.5 million members. In 2000, the company processed approximately 241.8 million network pharmacy claims and 15.2 million mail pharmacy prescriptions, with an estimated total drug spending of $11.2 billion, excluding UHC network pharmacy claims of 57.8 million having an estimating total drug spending of $2.7 billion. The contract with UHC expired on May 31, 2000 and ESRX transitioned the UHC membership to another provider throughout 2000.

PBM offerings include: network claims processing, mail pharmacy services, benefit design consultation, drug utilization review, formulary management programs, disease management and medical and drug data analysis services, and compliance and therapy management programs for clients; market research programs for pharmaceutical manufacturers; medical information management services, which include outcome assessments, the development of data warehouses combining medical claims and prescription drug claims, and sophisticated decision support tools to evaluate disease specific interventions on cost and quality, through its wholly-owned subsidiary Practice Patterns Science, Inc.; and informed decision counseling services through its Express Health LineSM division.

INCORPORATED in Delaware Mar. 27, 1992. In March 1992, merged a Missouri company of the same name (Predecessor) on the basis of one Cl. B Common share of the company for each Common share of Predecessor. Predecessor was incorporated in Missouri Sept. 4, 1986. OFFICE- 13900 Riverport Drive, Maryland Heights, MO 63043 (Tel.: 314-770-1666). Fax - 314-770-0303. WEBSITE- http://www.express-scripts.com.





 

 

 

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