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Press Release

Express Scripts Holding Company Updates 2017 Full-Year Guidance and Announces 2018 Financial Guidance

Express Scripts
Posted on: 17 Dec 17

ST. LOUIS, Dec. 14, 2017 /PRNewswire/ -- Express Scripts Holding Company (Nasdaq: ESRX) increased its previously issued consolidated 2017 full-year adjusted EPS guidance range of $6.97 to $7.05 to $7.00 to $7.08, which represents growth of 10% over consolidated 2016 adjusted EPS results at the midpoint of the range.  The Company narrowed its previously issued consolidated 2017 adjusted EBITDA1  guidance from a range of $7,350 million to $7,470 million to a range of $7,370 million to $7,450 million, which maintains the midpoint of the range and represents growth of 2% over consolidated 2016 adjusted EBITDA results.

The Company anticipates achieving adjusted earnings per diluted share2 for 2018 in the range of $7.67 to $7.87, representing growth of 9% to 12% from the midpoint of our updated 2017 adjusted EPS guidance range.

"The need for a focused PBM has never been greater than it is today," said Tim Wentworth, President and CEO of Express Scripts.  "In 2017, we demonstrated the power of our model by consistently delivering savings to payers while ensuring our patients have access to the right medications at the best possible price and with the greatest level of care.  We are proud of what we have accomplished in 2017, and are exceptionally well positioned to capture saving opportunities for our clients, achieve better health outcomes and deliver strong results to shareholders in the future."

2017 Guidance for Core Business

The Company expects 2017 full-year total adjusted claims for its Core business to be in the range of 1,158 million to 1,172 million, which is flat over Core 2016 total adjusted claims at the midpoint of the range.  The Company expects Core 2017 full-year adjusted EBITDA guidance in the range of $4,910 million to $4,970 million, which represents growth of 3% over Core 2016 adjusted EBITDA results at the midpoint of the range.  The Company is providing this information to assist in an analysis of the underlying performance of the Company's Core business, which excludes the contributions from Anthem, Coventry and Catamaran, which we also refer to as the "Transitioning Clients."

For a discussion of the financial measures presented herein which are not calculated or presented in accordance with U.S. generally accepted accounting principles ("GAAP"), see "Supplemental Information Regarding Non-GAAP Financial Measures" below.

2018 Guidance

The Company is providing the 2018 full-year guidance for the Core business and the consolidated business, which includes the pending acquisition of eviCore healthcare and assumes the completion of the Company's sale of its United BioSource subsidiary.  The eviCore acquisition and the sale of United BioSource are expected to be completed in December 2017.  We estimate that the eviCore acquisition will generate EBITDA of $265 million to $285 million in 2018.

Editor's Details

Mike Wood

Last updated on: 17/12/2017

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