Express Scripts Awarded 7-Year TRICARE Pharmacy Program Contract

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Apr 18, 2014, 05:45 ET

ST. LOUIS, April 18, 2014 /PRNewswire/ -- The U.S. Department of Defense today awarded Express Scripts (NASDAQ: ESRX) administration of the TRICARE Pharmacy Program, Fourth Generation (TPharm4) contract serving approximately 10 million beneficiaries.

"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," said George Paz, chairman and chief executive officer, Express Scripts. "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 seven-year contract will include administering a retail pharmacy network, operating the TRICARE Mail Order Pharmacy and providing specialty pharmacy services effective May 1, 2015. Express Scripts has been providing the DoD's home delivery and retail pharmacy network services since 2003 and 2004, respectively, adding specialty pharmacy in 2009.

Express Scripts' technical and administrative services will expand under the TPharm4 contract, as the company will serve the pharmacy needs of the military worldwide, including Military Treatment Facilities.

Express Scripts has achieved beneficiary satisfaction ratings as high as 98.3%, while consistently delivering significant savings for the DoD through cost-containment strategies such as increasing home delivery, driving deep retail network discounts and administering advanced clinical programs with specialist pharmacists.

About Express Scripts
Express Scripts manages more than a billion prescriptions each year for tens of millions of patients. On behalf of our clients — employers, health plans, unions and government health programs — we make the use of prescription drugs safer and more affordable. Express Scripts uniquely combines three capabilities — behavioral sciences, clinical specialization and actionable data — to create Health Decision Science^SM, our innovative approach to help individuals make the best drug choices, pharmacy choices and health choices. Better decisions mean healthier outcomes.

Headquartered in St. Louis, Express Scripts provides integrated pharmacy-benefit management services, including network-pharmacy claims processing, home delivery, specialty benefit management, benefit-design consultation, drug-utilization review, formulary management, and medical and drug data analysis services. The company also distributes a full range of biopharmaceutical products and provides extensive cost-management and patient-care services.

For more information, visit Lab.Express-Scripts.com or follow @ExpressScripts on Twitter.

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INVESTOR CONTACT:
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SOURCE Express Scripts