Speller thinks the shifting of costs from employers to employees in the form of higher co-pays has negatively impacted script trends. He notes many victims of recent massive corporate layoffs have seen their insurance expire under COBRA.
Markets & Finance
AG Edwards Cuts AmerisourceBergen Rating
Analyst Andrew Speller says he thinks underlying U.S. pharmaceutical industry fundamentals are deteriorating and will further pressure valuation on these three companies. Speller's concerns center on persistent lackluster weekly prescription trends as provided by IMS Health, and substantiated by declining monthly pharmacy sales comps reported by major drug retailers.