Shares of specialty drugmaker Horizon Pharma (HZNP) were down 30% on the stock market today after two major pharmacy benefit managers removed its drugs from their formularies. Horizon disclosed in an SEC filing that Express Scripts (ESRX) and Caremark, CVS’ (CVS) PBM division, are removing its drugs Duexis and Vimovo from their formularies as of August and will place the drugs on their exclusion lists at the start of next year. Horizon said this
Shares of specialty drugmaker Horizon Pharma (HZNP) were down 30% on the stock market today after two major pharmacy benefit managers removed its drugs from their formularies. Horizon disclosed in an SEC filing that Express Scripts (ESRX) and Caremark, CVS’ (CVS) PBM division, are removing its drugs Duexis and Vimovo from their formularies as of August and will place the drugs on their exclusion lists at the start of next year. Horizon said this
Specialty drugmaker Horizon Pharma (HZNP) beat analysts’ Q1 estimates and raised its sales guidance Friday morning, briefly rallying the stock on the stock market today. Horizon reported its first quarterly profit, excluding one-time items, making 13 cents a share. Analysts had expected it to make only a penny. Net sales totaled $51.9 million, up from just $8.7 million in the year-earlier quarter and topping analysts’ consensus by more than $9