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Pharmacy benefits manager express scripts discloses receipt of subpoenas

Pharmacy benefits manager express scripts discloses receipt of subpoenas

Express Scripts Holding Co., the national’s largest pharmacy benefits manager, disclosed the receipt of three subpoenas, one each from the U.S. Department of Justice for the District of Rhode Island, the New Jersey attorney general and the U.S. Department of Labor, Employee Benefits Security Administration, in a recent Form 10-Q filing with the Securities and Exchange Commission.
The filing broke down the subpoenas as follows:
  • February 27, 2014, subpoena duces tecum received from the United States Department of Justice, District of Rhode Island, pursuant to 18 U.S.C. Section 24(a), requesting information regarding the Company’s contractual arrangements with Pfizer, Bayer, EMD Serono and Biogen Idec concerning the following drugs: Betaseron, Rebif and Avonex.
  •  March 31, 2014, subpoena duces tecum received from the Attorney General of New Jersey, requesting information regarding ESI’s and Medco’s arrangements with Astra Zeneca concerning the drug Nexium.
  • April 8, 2014, subpoena received from the United States Department of Labor, Employee Benefits Security Administration, requesting information regarding ESI’s and Medco’s client relationships from 2009 to the present.
 Express Scripts indicated that it intends to cooperate with all inquiries and expressed optimism as to the outcome of the investigations. During the course of an April 30 conference call to discuss first-quarter earnings, Express Scripts Chief Executive George Paz remarked, “I tell you we have very strong compliance programs here at Express Scripts, so I don’t know where all these things take us or what they are looking for. But I feel good about what we do, so we will just have to see how these things play out.”
The full Express Scripts Form 10-Q is available on the SEC website at Express Scripts Form 10-Q.
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