Two PBMs drop Horizon NSAIDs

Shares of Horizon Pharma (NASDAQ:HZNP) are off 29% premarket on heavy volume after it disclosed in a regulatory filing that CVS Caremark (NYSE:CVS) and Express Scripts (NASDAQ:ESRX) are dropping Duexis and Vimovo from their formularies. The products will be placed on their exclusion lists effective January 1, 2015.

The company does not expect the actions to impact its financial guidance of $270M - 280M in net revenues and $80 - 90M in EBITDA for fiscal 2014, although 20 - 30% of the prescription volume is at risk.

Horizon will include the effects of the situation in its 2015 guidance to be issued in Q4.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs