Walgreens announced Tuesday that it will not be renewing contract with Express Scripts to be part of the pharmacy profit manager’s network next year, after a altercate over reimbursement rates and the definition of generic versus brand drugs. The market penalised both stocks: Walgreens fell 5.2% even though it also higher than earnings expectations, and Express Scripts dropped 1.5% in morning trading.
The deal would take 7,700 Walgreens pharmacies, which reported for $5.3 billion worth of
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