Express Scripts Falls on Attack From Andrew Left - (TheStreet via NewsPoints Desk)

  • Shares in Express Scripts fell as much as 2.2 percent following criticism by Citron Research head Andrew Left, TheStreet reported Friday.

  • Left also suggested that the company's earnings per share could plunge as much as 30 percent if its rebates declined by 50 percent.

  • "Are [patients] saving money," Left questioned, adding "yeah, but not as much as they should save. They're shaking down the drug companies." 

  • Left noted that compared to CVS Caremark and UnitedHealth, Express Scripts receives far larger rebates.

  • "Plans and [pharmacy benefit managers] are negotiating discounts from drug makers and pharmacies to get the best deals for the plans they offer," Express Scripts countered, continuing "the report finds that as drug prices went up, member premiums went down."

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