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Pharmacy benefits managers dip on bailout failure



By AP
29 September 2008 @ 02:45 pm EST

NEW YORK - Shares of pharmacy benefits managers were relatively steady Monday after the U.S. House of Representatives voted against a financial sector bailout, sending most stocks sharply down.

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Quotes
MHS 37.32 1.21
ESRX 53.72 4.12
CVS 26.39 -0.41

SYMBOL LOOKUP

Stocks were already trading lower on concerns the $700 billion aid package would fail, and as the votes rolled in, the Dow Jones industrial average plunged as much as 702 points. The Standard & Poor's 500 and Nasdaq composite index suffered comparable declines, although each index bounced back from their lows even after the day's vote ended.

In afternoon trading, shares of Medco Health Solutions Inc. shed 35 cents to $46.07.

Express Scripts Inc. lost 91 cents to $73.97.

CVS Caremark Corp. fell $2.47, or 7.1 percent, to $32.51.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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