UNDATED (AP) — Shares of pharmacy benefits manager Express Scripts slid 17 percent last year, and so did the pay package for Chairman and CEO George Paz.
The 56-year-old executive received compensation valued at $8.5 million. That included stock and option awards totaling $7.2 million and a $1.1 million salary but no bonus because the St. Louis company missed an earnings target.
Express Scripts earnings grew 8 percent last year to $1.28 billion, but its stock price tumbled after it announced in July plans to buy competitor Medco Health Solutions for more than $29 billion. That deal closed earlier this month, creating the largest pharmacy benefits manager in the country.
PBMs run prescription drug plans for employers and insurers among other customers.
The AP compensation calculation is based on a regulatory filing.
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