Walgreen Stock Jumps on New Deal with Express Scripts

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