Medco Health Solutions says its fourth-quarter profit rose 12 percent, as increases in mail-order prescriptions and generic drug dispensing rates helped the pharmacy benefits manager offset expenses from its pending acquisition by Express Scripts Inc.
Medco reported net income of $424.4 million, or $1.08 per share, in the three months that ended Dec. 31. That compares to $378.5 million, or 88 cents per share, in the final quarter of 2010.
Revenue also climbed 12 percent to almost $19 billion.
Adjusted earnings that exclude costs tied to the Express Scripts deal and other expenses were $1.25 per share.
Analysts expected earnings of $1.17 per share on $17.38 billion in revenue.
The Franklin Lakes, N.J., company says mail-order prescriptions rose 9 percent, and its generic dispensing rate increased to 74.7 percent.
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