Dallas, Texas 04/22/2014 (FINANCIALSTRENDS) – St. Louis-based Express Scripts Holding Company (NASDAQ:ESRX) will be releasing its first quarter earnings report on April 29, 2014. The strategically timed announcement of a 7-year federal contract ahead of the earnings report looks set to push ESRX up big time if the largest pharmacy benefit management company in North America is able to live up to analyst expectations.
TRICARE Pharmacy Program Contract
The U.S. Department of Defense has awarded Express Scripts administration of the Fourth Generation (TPharm4) TRICARE Pharmacy Program that serves around 10 million beneficiaries. The 7-year contract includes administering a retail pharmacy network and operating the TRICARE Mail Order Pharmacy, in addition to providing specialty pharmacy services.
Express Scripts has already been a federal contractor providing home delivery and retail pharmacy network services for the DoD since 2003 and 2004 respectively, with specialty pharmacy included in 2009. This new contract vastly expands the scope of their activities to include the pharmacy needs of the U.S. military all over the world, including at Military Treatment facilities.
George Paz, chairman and chief executive officer, Express Scripts, said that, “Express Scripts is proud to continue providing world-class service and specialized pharmacy care to our men and women in uniform, along with their dependents and also to military retirees.”
Paz added that, “This award reaffirms the Express Scripts business model that aligns client and beneficiary interests with our commitment to control costs, drive out pharmacy waste and improve health outcomes.”
The Quarterly Earnings Report
Express Scripts plans to release its first quarter earnings on Tuesday, April 29, 2014 after the market closes. The earnings call to discuss the first quarter results is scheduled for the next day on April 30, 2014 at 8:30 a.m. Eastern Time. The earnings call will also be webcast and can be accessed through the corporate section of their website.