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Medco Delivers Record Fourth-Quarter and Full-Year 2011 Earnings
Date:2/21/2012

ss Scripts, Inc. of $80.2 million before provision for income taxes. When excluding these merger-related expenses, diluted EPS increased 18.4 percent over full-year 2010. Adjusting for all amortization of intangible assets and excluding the aforementioned merger-related expenses, full-year 2011 diluted earnings per share increased 17.5 percent to a record $4.17, up from $3.55 in 2010. (Please see Table 4a for results excluding merger-related expenses.)

"Our record earnings for the quarter and the year continue to be driven by our model that delivers significant drug cost savings to our clients and patients while also driving down the total cost of healthcare through highly-differentiated clinical innovation.  Our strong operating performance resulted in fourth quarter and full-year 2011 records that include revenues, gross margin dollars, EBITDA, prescription volumes, generic dispensing rates, and full-year EBITDA per adjusted script," said David B. Snow Jr., chairman and chief executive officer of Medco.

"On February 10, Medco and Express Scripts certified that we substantially complied with the second request from the Federal Trade Commission (FTC).  As we look ahead, we remain confident that our merger with Express Scripts, Inc. will close in the first half of 2012.  We continue to strongly believe that the combined company will be best positioned to drive down prescription costs for America while also delivering advanced pharmacy services and solutions to help solve America's most pressing healthcare challenges.  Finally, as we have stated many times over the years, our ability to generate shareholder value is directly tied to our success in lowering healthcare costs for clients and patients," added Snow.  

Fourth-quarter Financial and Operational ResultsMedco reported fourth-quarter 2011 net revenues of nearly $19.0 billion, representing a 12.2 percent increase over fourth-quarter 2010.  As mentioned in Med
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SOURCE Medco Health Solutions, Inc.
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