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CORRECT: Medco Executives Paid Max 2011 Bonuses; Express Scripts More Frugal

("Medco Execs Paid Max 2011 Bonuses; Express Scripts More Frugal," at 11:34 a.m. EDT, misstated post-deal plans for Medco's CEO in the third paragraph. The correct version follows:) By Jon Kamp Of DOW JONES NEWSWIRES Pharmacy-benefit manager Express Scripts (ESRX) declined to pay bonuses to top executives last year after missing some financial targets, but executives at just-acquired Medco Health Solutions made out better, raking in millions as the company changed hands. Express Scripts chief executive George Paz, who also heads the combined company, received total compensation valued at $8.5 million last year, a 17% decline. But Paz also received about $13.3 million on the value of vesting stock awards. Meantime, Medco CEO David Snow, who is not among the executives joining Express Scripts's senior leadership team, saw his total compensation rise 15% to $18.9 million. An 81% boost to a $4.9 million cash bonus, paid in March this year with any remaining amount due after the deal's close, was a difference maker. Medco noted that Snow and four other executives were paid the maximum cash bonuses under the company's annual incentive plan--nearly $11 million in total. The board of director's compensation committee "considered the overall contribution of each of the named executive officers to, and the significant shareholder value created by, the merger with Express Scripts," Medco said in a regulatory filing. Medco was purchased at about a 30% premium to its price before the deal was announced last summer. Snow also realized $2.4 million on the value of vested stock awards last year. Both pharmacy-benefit managers, or PBMs, filed details on executive pay in Securities and Exchange Commission filings early Monday, when the companies also closed their long-awaited deal. The Federal Trade Commission concluded a long antitrust review with a green light and without deal-related conditions. Following the close, Express Scripts has changed its full name to Express Scripts Holding Co. CEO Paz, now head of the largest PBM, saw his compensation drop as he received no bonus for 2011 after getting $2 million the prior year. Express Scripts noted it fell short on certain earnings related targets, "and therefore the bonus pool was not funded." Express Scripts shares recently traded up 3.2% to $55.92. -By Jon Kamp, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

Stock News for Medco (MHS)
DateTimeHeadline
04/02/201219:28:09CORRECT: US Stocks End At Multiyear Highs On US Manufacturing...
04/02/201212:18:34CORRECT: Medco Executives Paid Max 2011 Bonuses; Express Scripts...
04/02/201212:04:59Medco Executives Paid Max 2011 Bonuses; Express Scripts More...
04/02/201210:39:10WSJ BLOG/Health: A.M. Vitals: Some States Move Forward Voluntarily...
04/02/201209:11:32Express Scripts Closes $29.1 Billion Medco Acquisition
03/30/201218:20:08US Pharmacy Groups Seek Temporary Restraining Order Vs Deal
03/29/201213:40:34Pharmacy Groups File Suit Against Express Scripts, Medco Deal
03/28/201209:47:51Express Scripts, Medco Say Deal Could Close Next Week
03/27/201214:56:14Walgreen Sees Flexibility To Keep Medco Clients If Merger Wins...
03/23/201220:04:33Medco To Pay $2.8 Million To Resolve CalPERS Payment Probe
03/19/201211:11:36Express Scripts/Medco Deal Could Face State Lawsuits -Bloomberg
03/12/201218:15:43Express Scripts, Medco Continue To Work With FTC On Deal
02/28/201211:29:17CVS Says Tailwinds Favor PBM-Retail Hybrid Business Model
02/23/201210:28:13Express Scripts Cites Smooth Transition From Walgreen
02/21/201207:22:31Medco Health 4Q Net Rises 12% As Revenue Easily Tops Estimates
02/08/201213:17:21Insurer Coventry Health Care Extends Pact With Medco By 3 Years
02/06/201214:31:04Big Grocery Chains Ask FTC To Block Medco-Express Scripts Deal...
02/06/201212:35:37February's Flurry Of Issuance Continues For High-Grade Corporates
01/27/201218:16:16Benefit Manager's Lipitor Move Highlights Pressure On Pfizer
01/12/201211:51:48FTC: CVS Caremark Settles Deceptive Pricing Charges, Will Pay...

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