Citing data released by Express Scripts Holding Co., the St. Louis Post-Dispatch is reporting that for the first time in more than 20 years, there was a decrease last year in U.S. spending on traditional prescription drugs.
Pharmacy chain Walgreens says it will begin filling prescriptions from customers in the Express Scripts network starting in September under a new multiyear contract between the companies.
Walgreen had stopped filling prescriptions for Express Scripts after a contract between the companies ended last year.
Shares of Walgreen Co. jumped 14 percent in premarket trading while Express Scripts shares rose 3 percent.
The new Fortune 500 list has been released. Fortune Magazine has released its annual ranking of the top U.S. companies by revenue Monday.
Last year, St. Louis had ten companies on the list. It’s down to nine this year, as Smurfit Stone Container dropped off because it was purchased by Rock-Tenn in 2011. The companies are:
Updated at 4:26 p.m. to correct name of Jennifer Mallon's association. It is the National Community Pharmacists Association, not the National Association of Community Pharmacies.
Federal regulators have approved the $29.1 billion merger between pharmacy benefit managers Express Scripts and Medco.
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