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Express Scripts seeks cost cuts, M&A as it preps for Anthem loss
April 25, 2017 / 2:26 PM / 8 months ago

Express Scripts seeks cost cuts, M&A as it preps for Anthem loss

NEW YORK, April 25 (Reuters) - Pharmacy benefit manager Express Scripts Holding Co said on Tuesday that it plans to cut costs and is on the lookout for strategic deals as it readies itself for the potential loss of its largest customer, Anthem Inc.

“Pick your favorite 3 investment bankers, they would tell you that we read everything,” Chief Executive Tim Wentworth said on a conference call with investors, when asked about possible deals. “We’re engaging very meaningfully.”

Chief Financial Officer Eric Slusser said that the company has already launched programs with an eye toward reducing selling, general and administrative expenses should the Anthem contract end in three years. (Reporting by Michael Erman)

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