Citron On The Offense
Notable short seller Citron Research likened Express Scripts last week as being "the Philidor of the pharma industry" — a reference to Valeant Pharmaceuticals Intl Inc VRX relationship with Philidor.
During Wednesday's conference call, Express Scripts CEO Tim Wentworth said the following about drug prices:
- "The overarching conversation about drug prices, there's no question in my mind that conversation is not going away."
- "Rebates are connected to inflation, but drug prices today are not acceptable even without inflation."
"'Transparency in drug pricing WILL drive down the price of Express Scripts stock," Left added.
What Was Said Before
Left added in his initial attack on Express Scripts that he believes the company is the "culprit behind pharmaceutical price gouging," and if President-elect Donald Trump fulfills a pledge to fix drug pricing, he needs to look at Express Scripts.
Following Citron's commentary, a spokesperson with Express Scripts told Benzinga they disagree with the assertions and said it is not at all like Philidor.
"Express Scripts is a market force that uniquely puts medicine within reach by driving down cost of care and improving health outcomes," the company said.
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