While no details were provided, Walgreen Co. (NYSE: WAG) and Express Scripts Holding Co. (NASDAQ: ESRX) this morning announced a new multiyear deal that will once again add Walgreens stores to the pharmacy network served by Express Scripts. The two companies dropped complaints against each other in early June, saying, “These dismissals have no impact on the parties’ ability or inability to come to terms on a pharmacy agreement.”
The deal gives Walgreen access to the 150 million members of the Express Scripts pharmacy benefits management network, by far the largest network in the country. In June Walgreen added a multiyear agreement with OptumRx, a division of Unitedhealth Group Inc. (NYSE: UNH), that gave OptumRx’s 14 million members access to Walgreen’s 7,800 retail stores.
Walgreen shares are up about 14% in premarket trading, at $35.25, in a 52-week range of $28.53 to $42.36.
Shares of Express Scripts are up about 3.3% at $59.60, a new 52-week high if it holds. The current 52-week range is $34.47 to $58.98.
Paul Ausick
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
