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news.Catalyst Health Solutions has reported revenue of $1.23bn for the second quarter ended 30 June 2011, an increase of 39%, as compared to $890.1m for the same period in 2010.
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The increase in revenue is driven by higher prescription volume and price inflation on brand drugs, offset by the impact of the increase in generic utilization.
Catalyst‘s net income was $12.31m, compared to $19.48m for the same period in the prior year.
The company’s operating income was $21.56m for the second quarter ended 30 June 2011, as compared to $31.64m for the same period in 2010.
For the six months ended 30 June 2011 revenue was $2.36bn, compared to $1.72bn for the same period in 2010.
Net income was $32.61m for the six months ended 30 June 2011, as compared to $36.9m for the same period prior year.
For the six months ended 30 June 2011, the company’s operating income was $55.63m, as compared to $60.08m for the same period in 2010.
Catalyst CEO David Blair said in the second quarter, they completed the strategic acquisition of Walgreens Health Initiatives (WHI), executed on their integration plans, retained key clients and sold new business.