Posted by Michael Wonder on 09 Dec 2016
Short-seller Citron calls Express Scripts drug price culprit
8 December 2016 - Short seller Citron Research's Andrew Left has turned his sights on Express Scripts, calling the pharmacy benefit manager the "culprit behind pharmaceutical price gouging."
Shares of Express Scripts, the largest pharmacy benefit manager in the United States, fell 6.7% to close at $70.75 on Nasdaq. Citron, which profits from bets that stock prices will fall, set a price target of $45 on the company's shares.
Express Scripts "is Philidor of the pharma industry. @therealdonaldtrump promises to fix drug pricing? Two words: EXPRESS SCRIPTS," Citron tweeted on Thursday.
