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Business Description
Express Scripts, Inc. is a pharmacy benefit management (PBM) company in North America. The Company is independent from pharmaceutical manufacturer ownership, which allows it to make unbiased formulary recommendations to its clients, balancing both clinical efficacy and cost. The Company provides a full range of pharmacy benefit management services, including retail drug card programs, mail pharmacy services, drug formulary management programs and other clinical management programs for approximately 19,000 client groups that include HMOs, health insurers, third-party administrators, employers, union-sponsored benefit plans and government health programs. As of January 1, 2002, some of the Company's largest clients included AARP, Aetna U.S. Healthcare and Blue Cross Blue Shield of Massachusetts.

Financial Information
ESRX, an independent pharmacy benefit manager and managed care company, provides a broad range of pharmacy benefit and medical information management services, as well as managed vision care programs. For the six months ended 6/30/02, revenues rose 42% to $6.15 billion. Net income increased 59% to $92.7 million. Revenues reflect increased membership and member utilization. Net income also reflects a higher gross profit due to additional volume in SDS.