Express Scripts Holding Company (ESRX - Free Report) recently introduced Express Scripts Medicare Prescription Drug Plan (“PDP”) offerings for 2019. PDP is a low-premium plan that caters to prescription needs of the patients.
Notably, the enrollment process for the 2019 plan will begin from Oct15, 2018 through Dec7, 2018. The company will initiate PDP coverage from Jan 1, 2019.
What is a Medicare PDP?
Per Centers for Medicare & Medicaid Services, Medicare prescription drug plan covers the costs for brand-name and generic drugs at low premiums in the United States.
Medicare drug plans are offered generally by insurance companies, pharmacy benefit managers and other private companies approved by Medicare.
More About Medicare PDP
PDP was initiated in 2018.
Per the latest announcement, the plan will include Walmart along with CVS Pharmacy and the Kroger Family of Pharmacies to provide an affordable and expanded preferred pharmacy network.
The PDP offers a premium of $23.90 per month.
The Express Scripts Medicare Value and Choice plans was rated 4 stars by Medicare in 2018.
Zacks Rank & Price Performance
Express Scripts’ stock has outperformed the industry in the past year. The stock has surged 67.2% during this period compared with the industry's rise of 0.8%. The current level is also higher than the S&P 500 index's gain of 17.8%. The stock has a Zacks Rank #3 (Hold).
Express Scripts recently announced that the Accredo specialty pharmacy is working with Akcea Therapeutics to distribute TEGSEDI subcutaneous injection for the treatment of the polyneuropathy of hereditary transthyretin-mediated (hATTR) amyloidosis in adults.
This is likely to fortify the company’s position in the generic drugs market. Per Express Scripts’ management, TEGSEDI is expected to reduce administration costs and drug wastage. Accredo is an Express Scripts specialty pharmacy which serves patients with complex and chronic health conditions, including cancer, hepatitis C and HIV. It provides complete coordination of care between the medical benefit, pharmacy benefit and physicians.
A few better-ranked stocks in the broader medical space are Surmodics, Inc (SRDX - Free Report) , Masimo Corporation (MASI - Free Report) and Veeva Systems (VEEV - Free Report) .
Surmodics has a long-term expected earnings growth rate of 10%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Masimo’s long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2 (Buy).
Veeva Systems’ long-term earnings growth rate is estimated at 19.3%. The stock sports a Zacks Rank #1.
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