Walgreens Plans to Stop Filling Express Scripts Drug Prescriptions in 2012
Arnold and Jefferson County residents using Express Scripts prescription services have until Jan. 1 to choose a new pharmacy.
The Express Scripts website press room features a news release expressing shock about the decision by Walgreen’s to stop filling prescriptions for the pharmacy provider network based in North St. Louis County. You will find a news release on the matter on the Walgreens website, too.
The corporate headquarters is named Walgreen, the individual stores found in neighborhoods are named Walgreens.
A Walgreen press release points to a breakdown where many contract negotiations often come to an impasse: money.
“Walgreens is committed to providing quality, convenient and cost-effective pharmacy services to our patients, but we cannot continue to deliver these services under the terms and rates Express Scripts offered. As the largest retail provider in their pharmacy network, we were surprised by Express Scripts’ ultimate stance during our talks, which made it clear to us that they no longer had an interest in continuing a meaningful relationship.”
Quoted in the St. Louis Post-Dispatch, the Express Scripts CEO George Paz said:
“It is shocking to us that Walgreens would back away from the table with six months to go in the current agreement, especially considering that negotiations are part of the normal course of business.”
More on the pharmacy feud
- Skokie (IL) Patch reported that Express Scripts customers who fill their prescriptions at Walgreens have until Jan. 1 to find a new pharmacy.
- The St. Louis Business Journal said Express Scripts could process about 90 million prescriptions through Walgreens in fiscal year 2011, representing about $5.3 billion in annual sales.
- The Express Scripts v. Walgreens feud made headlines in the New York Times as well. A story in the business section said the relationship with Express Scripts represents 7 percent of annual revenue for Walgreen.
- At least one view from Wall Street holds that the Walgreen decision won’t adversely affect Express Scripts. As reported by bezinga.com, JP Morgan maintains its “overweight” rating for the Express Scripts. (Investopedia.com defines the term: “Overweight will usually signify that the security is expected to outperform either its industry, sector or, even, the market altogether.)”
Redbox Locations in Arnold
- Walgreens — 3937 Vogel Rd.
- McDonald's — 2005 Richardson Rd.
- Walmart Supercenter — 2201 Michigan Ave.
- Dierbergs Market —860 Arnold Commons Dr.
- Shop n' Save — 1253 Water Tower Plaza
- Schnuck Market — 3900 Vogel Rd.
- McDonald's — 3996 Jeffco Blvd.
Update: This article version includes the Redbox locations in Arnold and marks those locations on a map (located on the right side of the screen. Our apologies for failing to provide this information in an earlier article.