Healthcare Business Recap: Walgreen Haunted by ESRX, Ziopharm Disappoints
Walgreen (NYSE:WAG) defended ending its relationship with Express Scripts (NASDAQ:ESRX) over payment rates. A record 200,000 customers have signed up to a discount on membership of Walgreen’s prescription savings club. Unfortunately for Walgreens, rivals are heavily promoting their acceptance of ESRX’s drug cards in a bid to steal customers.
Synutra (NASDAQ:SYUT), a Chinese provider of infant formula, drops following the death of a baby who had consumed Synutra’s milk formula. The company, which has drawn the scrutiny of health regulators in the past, but it is defending the safety of its products, despite another recent case being opened by local regulators, in response to the baby’s death.
Ziopharm (NASDAQ:ZIOP) shares trail off. The presentation given at the JPMorgan Healthcare Conference did not have the wow factor.
Cantor Medical (NYSE:CMN) had the strength of a 28% run-up in its share price over the last 90 days and sets a 3-for-2 stock split for February 1.
To contact the reporter on this story: Tanya Harding at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com