MO Growth Helps Medco Surge in Quarter
Medco Health Solutions Inc. posted net income of $274.8 million for the first quarter, up 89.9% over $44.8 million in the prior year.
The mail order pharmacy and pharmacy benefits management firm reported net revenue of $11.2 billion for the quarter ended March 31, a 5.6% gain over increase over $10.6 billion last year.
“Each of our key strategic growth drivers advanced significantly, led by the record availability and acceptance of generic medicines, which produced significant benefits for Medco, our clients and their members,” said CEO David B. Snow Jr., in a statement. “Mail-order grew across our book of business, with more than 9 million members now enrolled in our retail refill allowance programs, an increase of more than 1 million members since the last quarter of 2006.”
