Key Developments For Express Scripts, Inc.
Express Scripts, Inc. (ESRX.O) (Nasdaq)
Express Scripts, Inc. And Greatwater Software, Inc. Announce Partnership To Provide New Service In Physician Offices
Express Scripts, Inc. and Greatwater Software, Inc., a provider of patient self-service solutions for the healthcare industry, announced a program that will enable patients to review options for reducing prescription costs when checking in for appointments at their physician's office. Under the terms of the agreement, Express Scripts will utilize Greatwater's PatientPoint kiosk platform to present its members with information regarding their prescription benefit and prescription management options such as generic drug and home delivery of medication options.
Express Scripts, Inc. Raises Low End Of Prior FY 2009 EPS Guidance
Express Scripts, Inc. announced that it previously provided fiscal 2009 earnings per diluted share (EPS) guidance in a range of $3.72 to $3.82, which excluded any impact related to the NextRx transaction. Due to strong underlying fundamentals in the core business, the Company now believes fiscal 2009 earnings on the same basis will be in a range of $3.76 to $3.82, representing 21% to 23% growth over fiscal 2008.
Express Scripts, Inc. Raises FY 2009 EPS Guidance
Express Scripts, Inc. announced that for fiscal 2009, it expects earnings to be in a range of $3.72 to $3.82. Previously the Company provided fiscal 2009 earnings per diluted share (EPS) guidance in a range of $3.67 to $3.77, which excluded any impact related to the NextRx transaction. According to Reuters Estimates, analysts were expecting the Company to report EPS of $3.61 for the same period.
Express Scripts, Inc. Announces Pricing Of Acquisition Financing Transactions
Express Scripts, Inc. announced that it has priced its public offerings of common stock and senior notes. The Company announced that it has agreed to sell 23 million shares of its common stock at a public offering price of $61 per share. The Company has also granted the underwriters a 30-day option to purchase up to an additional 3.45 million shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any. The Company also announced that it priced a $2.5 billion underwritten public offering of senior notes, including $1 billion aggregate principal amount of 5.250% senior notes due 2012; $1 billion aggregate principal amount of 6.250% senior notes due 2014 and $500 million aggregate principal amount of 7.250% senior notes due 2019. The Company will pay interest on the notes semi-annually on June 15, and December 15, of each year, beginning on December 15, 2009. The notes will be jointly and severally and fully and unconditionally guaranteed on a senior unsecured basis by certain of the Company's current and future wholly owned domestic subsidiaries. The Company intends to use the net proceeds from the offerings to finance a portion of the $4.675 billion purchase price for the previously announced acquisition of WellPoint's pharmacy benefit management business. Both the common stock offering and the senior notes offering are expected to close by June 10, 2009,
Express Scripts, Inc. Launches Senior Notes Offering to Finance Acquisition
Express Scripts, Inc. announced that it is commencing a public offering of senior notes of a benchmark size pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The Company intends to use the net proceeds from this offering of senior notes, along with the net proceeds from its previously announced public offering of 23,000,000 shares of its common stock (or 26,450,000 shares if the underwriters exercise their option to purchase additional shares in full), to pay a portion of the $4.675 billion purchase price for the previously announced acquisition of WellPoint's pharmacy benefit management business. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. will act as joint bookrunning managers of the debt offering.
