Walgreen, Express Scripts Given Time ...

Walgreen, Express Scripts Given Time For Arbitration

There are 55 comments on the Fox News story from Sep 16, 2011, titled Walgreen, Express Scripts Given Time For Arbitration. In it, Fox News reports that:

A federal judge has given Walgreen Co . and Express Scripts Inc. up to a few weeks to resolve their increasingly heated dispute through arbitration, temporarily putting the pharmacy-benefit manager's effort to stop the drugstore chain's marketing offensive on hold.

Join the discussion below, or Read more at Fox News.

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El Rio

Houston, TX

#2 Sep 17, 2011
"and they do not care about those who served our country, sacrificed their lives and not to mention all the veterans that depend on the company"
LOL -- talk about hyperbole
James Brown

Houston, TX

#3 Sep 17, 2011
If you were selling apples to grocery stores, and they cost $1.00 to produce, and one grocery store said "We demand you sell us your apples for $.80, and not only that but we reserve the right to categorize certain more profitable flavors of apples as less profitable", would you continue to do business with them?
Commonsense

Reston, VA

#4 Sep 17, 2011
So express script is not in it for the money! Oh yeah they did not declare billions in profit for managing! Rx benefits.
It time you wake up. It's not the local drug store stealing you blind.
Do you get a refund on all the premiums you pay if you don't use medications much? Does your employer get a refund If half their employees fill just one or two generics a month. No but the money you pay express scripts is gone.
Are your premiums going down next year after "High charging wag" goes away? I don't think so who said you can't get 90 days at retail and save you money on the cost of 1 fill instead of 4? Who's requiring prior authorizations on all your drugs and making life miserable by taking their time to approve it? Who's changing your copays without notifying you? When you figure that out it will be like a 18 wheeler smacked you in the face .
It's funny how life is when you have no idea who's stabbing you in the back.
I wish you luck with your beloved express scripts
Commonsense

Owings Mills, MD

#5 Sep 17, 2011
This is how express scripts is saving you money by "managing your Rx benefits" and making just pocket change at the same time.
Hurray!

Revenue $44.9732 billion USD (2010)[1]
Net income $1.2046 billion USD (2010)[1]
Joe

Midlothian, IL

#7 Sep 18, 2011
It is all about $$$$$$$$$. That is how Walgreens looks at the the whole thing. You lost your legs Arms, How When and Where they just don't care Bottom line. Sorry to say that. I feel for every one happen to have express script insurance and what they have to go through. Just remember there are plenty of Pharmcies you can go to that accept your insurance. Besides they might treat you better than Walgreens and have enough help who can say Hi to you and not be stressed out and have attitude.
gnn

Since: Aug 11

Location hidden

#9 Sep 18, 2011
PCU wrote:
<quoted text>
Thank you for your empathy! CVS is one of those that will accept ESI / Tricare, but this state does not have any CVS Pharmacies....
Are you able to get your scripts through the mail?
mike

Wayne, IL

#10 Sep 18, 2011
express scripts does not think a retail pharmacy has value as they are not offering enough reimbursement to cover the cost of filling the prescription. it appears express scripts would like all precriptions to be converted to mail order. for some maintenance drugs , maybe it would be ok but in general for something as important as health, i think the customer should have a right to fill their medications where they want and have that interaction with their pharmacist.
mike

Wayne, IL

#11 Sep 18, 2011
i believe the other retailers that you refer to with empathy are definately on walgreens side cause their trying to protect the retail business in general. their just not in the position to come out and say this now. just my opinion.
WaGEXA

Eugene, OR

#12 Sep 19, 2011
PCU wrote:
No other company with ESI is bitching about the contract for assignment of payment/reimbursement.
Well maybe it is the fact that Walgreens has placed a building on every other corner and they have over extended their balance sheet. So why not attempt to get more money from those who provide them over 8.5 billion dollars a year in revenues.
Pretty ludicrous statement above.

Walgreens is anything but over extended in terms of liabilities. They have a ton of cash on hand and operating freedom. You obviously have not reviewed Walgreens' operating statements, particularly in comparison to Walgreens' competitors.

Despite this, just because Walgreens' has a great deal of financial flexibility, this does not mean that they should fill prescriptions at a loss, which is exactly what ESI is asking Walgreens to do.

As for the military and their families, Walgreens has explicitly tried to negotiate military RX benefits separately from the remainder of ESI's business, in order to continued serving this nation's patriots. ESI flatout rejected this, stating that Walgreens could not try to negotiate TriCare separate from the remaining ESI business.

If you are using TriCare, please express your disapproval with ESI's decision to block Walgreens as one of your pharmacy options. Make your voice heard.
WaGEXA

Eugene, OR

#14 Sep 19, 2011
PCU wrote:
<quoted text>
Walgreens is the company that walked away from the negotiation table, NOT ESI.
ESI refused to budge in negotiations...negotiations in which Walgreens was trying to maintain coverage for veterans. ESI would have none of it.
BillySh

Houston, TX

#15 Sep 19, 2011
PCU wrote:
Wow, thought I had heard it al before but are you all just posting about something you have NO CLUE ABOUT! Profit, it's a frigging DOD contract folks. I'm a 100% permanent and totally disabled veteran and no, I do not pay premiums at all. Walgreens blames ESI, and ESI defends their stand. Cost of medications from ESI as of 01 Oct 11, copay on generics - FREE for a 90 day supply for ALL ESI participants that receive their medications in the mail. I do not see a huge profit margin for ESI with this fact.
So you think I'm being hyperbole, well did you give up your legs for your country? Seems so easy to sit back in your comfort and relax while you talk about how profit is necessary for a company, but this is about Walgreens being greedy. No other company with ESI is bitching about the contract for assignment of payment/reimbursement.
Well maybe it is the fact that Walgreens has placed a building on every other corner and they have over extended their balance sheet. So why not attempt to get more money from those who provide them over 8.5 billion dollars a year in revenues.
Until you have giving a part of your life, soul, mind and body for this country, consider your freedom as a privilege and not a right.
14 SEP 11 from REUTERS
"Dow Jones reported that the ongoing dispute between Express Scripts, Inc. and Walgreens Company has reached the courthouse, with the pharmacy-benefit manager accusing the drugstore giant of violating an agreement between the two firms while making disparaging remarks. The companies have a contract that runs through this year, but renewal talks have broken down amid a public dispute involving different views about which firm is making unreasonable demands. In a court filing made last week, and referenced by an Express Scripts executive Wednesday during a Morgan Stanley conference, Express Scripts seeks to prevent what it sees as inappropriate actions and statements from Walgreen. The complaint alleges Walgreens has launched an aggressive campaign to disparage Express Scripts, disenroll Express Scripts' commercial and Medicare Part D members and to promote and prefer other Medicare Part D programs to the exclusion of those offered through Express Scripts. Through the current agreement between the firms, the drugstore agreed it wouldn't attempt to disenroll any Express Scripts member or market one Part D plan over another, Express Scripts said. Their agreement gives Walgreen access to more than 60 million Express Scripts members, including about 2.5 million with Part D prescription drug coverage through the government's Medicare program."
Another self-righteous veteran who believes the world should revolve around them.
WaGEXA

Eugene, OR

#18 Sep 20, 2011
You still did not answer why ESI would not allow Walgreens to negotiate Tricare separately to ensure that our nation's heroes could still have their prescriptions covered with Walgreens...
gnn

Since: Aug 11

Location hidden

#20 Sep 20, 2011
Is not walgreens here to make money? We are not a charity organization. We are retail bussiness with bills to pay and profesional employees that went to school to make sure they administer the prescriptions safetly to the customer. So they have a salary that needs to be paid just like all the other employees in the store in which many have served their country also.
gnn

Since: Aug 11

Location hidden

#22 Sep 20, 2011
PCU wrote:
<quoted text>
You speak as if you are part of corporate. If that be the case, then yes by all means the staff should be compensated for their professional services (regardless of veteran status or not).
I have looked at WAG balance sheets and I see how and why the demand for higher compensation from ESI is necessary to keep the P&L looking good for us investors. Yet the letter put ou by corporate is part of the reason the federal courts have been brought in. There is a time to reach a deal that is fair. I think that consideration should be given to what WAG will lose in the bottom line. Considering that the current TriCare/ESI customer base puts over 6.5M in the bank, to give that up and not to negotiate a reasonable settlement will have a serious affect on the numbers for WAG stock. I will be dumping my 500K shares as this BS of arbitration is a waste of time since corporate refuses to consider 'those customers' who put them on the map in the first place. We can and will go elsewhere and that takes that the stability away from WAG. It may be a strong company now but with the loss of income being voluminousness, I will choose not to place my investment at such a high risk. Go ahead and stick to your guns, don't compromise and do what is best for the paychecks and bonuses.
Yes but I think you are forgetting about Obama care we have a very big stake in that.
Anonymous

United States

#23 Sep 20, 2011
PCU - thank you for your service. I understand your point of view, but have you considered the long term ramifications of Walgreens accepting a contract that would effectively lose money? Next year it would be Blue Cross, then Medco (assuming no merger), then Caremark, etc. They have been backed into a corner and have to take a stand at this point...
PCU wrote:
<quoted text>
You speak as if you are part of corporate. If that be the case, then yes by all means the staff should be compensated for their professional services (regardless of veteran status or not).
I have looked at WAG balance sheets and I see how and why the demand for higher compensation from ESI is necessary to keep the P&L looking good for us investors. Yet the letter put ou by corporate is part of the reason the federal courts have been brought in. There is a time to reach a deal that is fair. I think that consideration should be given to what WAG will lose in the bottom line. Considering that the current TriCare/ESI customer base puts over 6.5M in the bank, to give that up and not to negotiate a reasonable settlement will have a serious affect on the numbers for WAG stock. I will be dumping my 500K shares as this BS of arbitration is a waste of time since corporate refuses to consider 'those customers' who put them on the map in the first place. We can and will go elsewhere and that takes that the stability away from WAG. It may be a strong company now but with the loss of income being voluminousness, I will choose not to place my investment at such a high risk. Go ahead and stick to your guns, don't compromise and do what is best for the paychecks and bonuses.
gnn

Since: Aug 11

Location hidden

#25 Sep 20, 2011
PCU wrote:
<quoted text>
No, I am very aware of the position of the President. I absolutely did not forget about any of that, and I do know that we will see significant changes within the next 18 months. Even the other day I noticed that Merck is cutting over 13K jobs. It is a grim situation for millions due to his Health Care idea. I do understand the ramifications of this plan, and in my opinion I see it as a catastrophic idea that will have an impact that will go far beyond generations to come.
Curious, are you with or part of the upper management at WAG or do you work around Michael Polzin? Are you aware of the petitions that many Walgreens Pharmacies have sitting out on the counters asking people to sign? I would see this as a violation of the courts position.
We will have to see what Judge Aspen decides in December, if not sooner...
How about our involvment withAARP and United Health Care?
gnn

Since: Aug 11

Location hidden

#27 Sep 20, 2011
PCU wrote:
<quoted text>
Just wondering are you going to address my questions, or are we just sticking with finding targets to shoot?
Who am I to answer questions just asking them.
gnn

Since: Aug 11

Location hidden

#28 Sep 20, 2011
PCU wrote:
<quoted text>
You are so off base.
You say we lose 6.5 million customers but if we do not make a profit on those customers how do we lose?
gnn

Since: Aug 11

Location hidden

#30 Sep 20, 2011
I am an investor also and I am in for the long term. There is no better pharmacy then Walgreens.

Since: Aug 07

Location hidden

#32 Sep 20, 2011
PCU wrote:
<quoted text>
...the numbers for WAG stock. I will be dumping my 500K shares as this BS of arbitration is a waste of time since corporate refuses to consider 'those customers' who put them on the map in the first place. We can and will go elsewhere and that takes that the stability away from WAG.
500K shares of WAG stock? As of today's closing price,$37.09, you've invested $18,545,000 in a single company?

I call BS.

Billy said it right, you're a self righteous disabled person / vet with nothing better to do but to make up BS online. Get a life.

By the way, before you start giving some sob story about veterans, I'm a nationalist and capitalist.

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