AdvancePCS copay revenue
Executive Summary
AdvancePCS' revenue and cost of revenue would each increase "15-25%" for FY 2003 if SEC requires reporting of copays to clients as revenue, CEO David Halbert says. FY 2002 revenue without copays totaled $3.4 bil.; that number could grow as large as $4.3 bil. with addition of copay revenue. PBMs are preparing for a Securities & Exchange Commission decision on a uniform standard for copay accounting (1"The Pink Sheet" March 31, p. 26)...
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