Morgan Stanley Overweight On Express Scripts

Morgan Stanley is out with a research report on Express Scripts, Inc. ESRX and it has an Overweight rating on shares. In a note to clients, Morgan Stanley writes, "Express Scripts is reaching out to clients/members who use Walgreens pharmacies. According to our channel checks, Express Scripts has sent letters to consultants and employers with an update on its dispute with Walgreens. In the letter, Express discloses that its CEO George Paz and Walgreen's CEO Greg Wasson met last week “in a final attempt to revive negotiations” but were unable to come to an agreement. According to the letter, Walgreens is the “highest-cost provider” in the Express network, charging up to 20% more than other pharmacies." Shares of ESRX lost 34 cents yesterday to close at $47.90.