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Pharmacy benefit manager $ESRX reported a rise in 1Q16 earnings driven by lower costs and expenses despite a fall in revenues. Net income rose to $526.1MM or $0.81 per share from $441.1MM or $0.60 per share last year. Revenue fell to $24.79Bil from $24.9Bil. Adjusted EPS increased to $1.22 from $1.10.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.