NEW YORK (AP) — Express Scripts, the largest U.S. pharmacy benefits manager, says its fourth-quarter net income slipped, hurt by the loss of UnitedHealth, a large customer.
Pharmacy benefits managers run prescription drug plans for employers, insurers and other customers. They process mail-order prescriptions and handle bills for prescriptions filled at retail pharmacies.
St. Louis-based Express Scripts Holding Co. said Thursday that it earned $501.9 million, down from $504.1 million in the final quarter of 2012. On a per-share basis, earnings rose to 63 cents from 61 cents as the company's shares outstanding shrank.
Excluding one-time items such as integrating acquisitions, earnings came to $1.12 per share, matching Wall Street's prediction.
Revenue fell 6 percent to $25.78 billion. FactSet says analysts forecast $25.36 billion.
Shares are off 2.1 percent to $75.50 in after-hours trading.