Summary Box: Medco profit and revenue surpass estimates, but 1st quarter view concerns Street
By APTuesday, February 23, 2010
Summary Box: Medco Health Solutions 4Q results
OUT WITH THE OLD: Medco Health Solutions Inc. topped Wall Street’s expectations in the fourth quarter, helped by rising drug prices and business with new clients.
IN WITH THE NEW?: Compared to the fourth quarter, Medco expects a smaller profit per prescription in the first quarter. That disappointed investors, who sold the shares over doubts that Medco can match analyst expectations.
GENERICALLY SPEAKING: The company’s annual profits are expected to keep growing as the patents on blockbuster drugs expire, allowing low-cost generic versions on the market.
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