Medco reports double-digit 2Q earnings increase

FRANKLIN LAKES, N.J. Medco Health Solutions experienced a 34.2 percent increase in earnings per share for the second quarter of the year, the pharmacy benefit manager reported Thursday.

Medco earned 51 cents a share, compared to 38 cents during the same period last year. The increased earnings resulted from increased sales across the company, including Accredo Health Group.

“This quarter, Medco demonstrated that strong execution around fundamentals of our business on behalf of our customers continues to drive outstanding earnings performance for our shareholders,” Chairman and chief executive officer David Snow Jr. said. “Beyond the quarter, our business strategy fueled extremely strong sales results and industry-leading customer retention rates.”

Medco earned net revenues of more than $44 billion last year.