Exhibit 99.1

Contact:
Jeff Hall, Chief Financial Officer
David Myers, Vice President, Investor Relations
(314) 810-3115
investor.relations@express-scripts.com

Express Scripts Reports Strong Fourth Quarter and Full Year 2010 Results

          ST. LOUIS, February 16, 2011 — Express Scripts, Inc. (Nasdaq: ESRX) announced 2010 fourth quarter and full year net income from continuing operations of $329.6 million and $1,204.6 million, or $0.62 and $2.21 per diluted share, respectively. Adjusted earnings per share, as detailed in Table 4 were $0.71 and $2.50 per diluted share for the fourth quarter and full year, respectively.

          “2010 was a transformational year for Express Scripts,” stated George Paz, chief executive officer and chairman. “During the year, we completed the migration of NextRx membership to our systems while continuing to serve existing clients and patients. In the first quarter, we will decommission the NextRx systems and complete the rationalization of our operational footprint. Our strong fourth quarter and full year results demonstrate our ability to successfully execute our business model of alignment that optimizes health outcomes while driving out waste.”

Fourth Quarter 2010 Review (2010 data reflected on an adjusted basis. See Tables 2 and 3)

	•		Total adjusted claims of 191.3 million, up 24% from 2009
	•		Gross profit of $833.7 million, up 18% from 2009
	•		EBITDA of $658.9 million, up 35% from 2009
	•		EBITDA per adjusted claim of $3.44, up 9% from 2009

Full Year 2010 Review (2010 data reflected on an adjusted basis. See Tables 2 and 3)

	•		Total adjusted claims of 753.9 million, up 42% from 2009
	•		Gross profit of $3,136.7 million, up 29% from 2009
	•		EBITDA of $2,408.2 million, up 42% from 2009
	•		EBITDA per adjusted claim of $3.19, consistent with 2009
	•		Year to date net cash flow from operations of $2,117.4 million, up 20% from 2009
	•		Repurchased 26.9 million shares for $1,276.2 million

          “As we look to the future, we are well-positioned to take advantage of growth opportunities. Our unique value proposition and innovative approach to management of the pharmacy benefit ensures that we will continue to lower overall costs and improve healthcare outcomes for plan sponsors and patients, and deliver superior returns to stockholders,” said Paz.

2011 Guidance

          The Company reaffirms its previously provided 2011 adjusted earnings per diluted share guidance in the range of $3.15 to $3.25. Adjusted earnings per share excludes items as detailed in Table 5.

About Express Scripts

          Express Scripts, Inc., one of the largest pharmacy benefit management companies in North America, is leading the way toward creating better health and value for patients through Consumerology^®, the advanced application of the behavioral sciences to healthcare. This approach is helping millions of members realize greater healthcare outcomes and lowering cost by assisting in influencing their behavior. Headquartered in St. Louis, Express Scripts provides integrated PBM services including network-pharmacy claims processing, home delivery services, specialty benefit management, benefit-design consultation, drug-utilization review, formulary management, and medical and drug data analysis services. The company also distributes a full range of biopharmaceutical products and provides extensive cost-management and patient-care services. More information can be found at http://www.express-scripts.com/ and http://www.consumerology.com/.

SAFE HARBOR STATEMENT

          This press release contains forward-looking statements, including, but not limited to, statements related to the Company’s plans, objectives, expectations (financial and otherwise) or intentions. Actual results may differ significantly from those projected or suggested in any forward-looking statements. Factors that may impact these forward-looking statements can be found in the Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Company’s Form 10-K filed with the SEC on February 16, 2011. A copy of this form can be found at the Investor Relations section of Express Scripts’ web site at http://www.express-scripts.com.

          We do not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

EXPRESS SCRIPTS, INC.
Unaudited Consolidated Statement of Operations

		Three Months Ended								Year Ended
		December 31,								December 31,
(in millions, except per share data)		2010				2009				2010				2009
Revenues(1)		$	11,294.2			$	8,197.0			$	44,973.2			$	24,722.3
Cost of revenues (1)			10,520.8				7,509.3				42,015.0				22,298.3
Gross profit			773.4				687.7				2,958.2				2,424.0
Selling, general and administrative			215.5				284.1				887.3				926.5
Operating income			557.9				403.6				2,070.9				1,497.5
Other (expense) income:
Interest income			0.5				1.2				4.9				5.3
Interest expense			(40.1	)			(51.7	)			(167.1	)			(194.4	)
			(39.6	)			(50.5	)			(162.2	)			(189.1	)
Income before income taxes			518.3				353.1				1,908.7				1,308.4
Provision for income taxes			188.7				130.0				704.1				481.8
Net income from continuing operations			329.6				223.1				1,204.6				826.6
Net income (loss) from discontinued operations, net of tax			—				0.2				(23.4	)			1.0
Net income		$	329.6			$	223.3			$	1,181.2			$	827.6
Weighted average number of common shares outstanding during the period:
Basic			527.5				549.8				538.5				527.0
Diluted			532.9				556.2				544.0				532.2
Basic earnings (loss) per share:
Continuing operations		$	0.62			$	0.41			$	2.24			$	1.57
Discontinued operations			—				—				(0.04	)			—
Net earnings			0.62				0.41				2.19				1.57
Diluted earnings (loss) per share:
Continuing operations		$	0.62			$	0.40			$	2.21			$	1.55
Discontinued operations			—				—				(0.04	)			—
Net earnings			0.62				0.40				2.17				1.56

EXPRESS SCRIPTS, INC.
Unaudited Consolidated Balance Sheet

		December 31,				December 31,
(in millions, except share data)		2010				2009
Assets
Current assets:
Cash and cash equivalents		$	523.7			$	1,070.4
Restricted cash and investments			16.3				9.1
Receivables, net			1,720.9				2,516.4
Inventories			382.4				313.0
Deferred taxes			86.0				135.0
Prepaid expenses			177.6				90.7
Other current assets			34.4				3.5
Current assets of discontinued operations			—				5.4
Total current assets			2,941.3				4,143.5
Property and equipment, net			372.7				347.1
Goodwill			5,486.2				5,497.1
Other intangible assets, net			1,725.0				1,880.8
Other assets			32.6				31.7
Noncurrent assets of discontinued operations			—				31.0
Total assets		$	10,557.8			$	11,931.2
Liabilities and stockholders’ equity
Current liabilities:
Claims and rebates payable		$	2,666.5			$	2,850.7
Accounts payable			656.7				706.4
Accrued expenses			593.9				549.2
Current maturities of long-term debt			0.1				1,340.1
Current liabilities of discontinued operations			—				10.4
Total current liabilities			3,917.2				5,456.8
Long-term debt			2,493.7				2,492.5
Other liabilities			540.3				430.1
Total liabilities			6,951.2				8,379.4
Stockholders’ Equity:
Preferred stock, 5,000,000 shares authorized, $0.01 par value per share; and no shares issued and outstanding			—				—
Common stock, 1,000,000,000 shares authorized, $0.01 par value per share; shares issued: 690,231,000 and 345,279,000, respectively; shares outstanding: 528,069,000 and 275,007,000, respectively			6.9				3.5
Additional paid-in capital			2,354.4				2,260.0
Accumulated other comprehensive income			19.8				14.1
Retained earnings			5,369.8				4,188.6
			7,750.9				6,466.2
Common stock in treasury at cost, 162,162,000 and 70,272,000 shares, respectively			(4,144.3	)			(2,914.4	)
Total stockholders’ equity			3,606.6				3,551.8
Total liabilities and stockholders’ equity		$	10,557.8			$	11,931.2

EXPRESS SCRIPTS, INC.
Unaudited Consolidated Statement of Cash Flows

		Year Ended
		December 31,
(in millions)		2010				2009
Cash flows from operating activities:
Net income		$	1,181.2			$	827.6
Net loss (income) from discontinued operations, net of tax			23.4				(1.0	)
Net income from continuing operations			1,204.6				826.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			244.7				106.7
Deferred income taxes			110.4				51.5
Employee stock-based compensation expense			49.7				44.6
Bad debt expense			5.2				24.1
Deferred financing fees			5.1				66.3
Other, net			9.4				3.3
Changes in operating assets and liabilities, net of changes resulting from acquisitions:
Receivables			793.0				(506.0	)
Inventories			(70.2	)			(58.1	)
Other current and noncurrent assets			(90.0	)			(68.6	)
Claims and rebates payable			(186.7	)			995.4
Other current and noncurrent liabilities			29.9				266.2
Net cash provided by operating activities — continuing operations			2,105.1				1,752.0
Net cash provided by operating activities — discontinued operations			12.3				19.5
Net cash flows provided by operating activities			2,117.4				1,771.5
Cash flows from investing activities:
Purchases of property and equipment			(119.9	)			(147.5	)
Purchase of short-term investments			(38.0	)			(1,201.4	)
Cash received from short-term investment			8.6				6.4
Proceeds from the sale of business			2.5				—
Acquisitions, net of cash acquired			—				(4,672.6	)
Sale of short-term investments			—				1,198.9
Other			1.7				(4.3	)
Net cash used in investing activities — continuing operations			(145.1	)			(4,820.5	)
Net cash used in investing activities — discontinued operations			(0.8	)			(1.9	)
Net cash used in investing activities			(145.9	)			(4,822.4	)
Cash flows from financing activities:
Repayment of long-term debt			(1,340.1	)			(420.1	)
Treasury stock acquired			(1,276.2	)			—
Tax benefit relating to employee stock-based compensation			58.9				13.4
Net proceeds from employee stock plans			35.3				12.5
Deferred financing fees			(3.9	)			(79.5	)
Proceeds on long-term debt, net of discounts			—				2,491.6
Net proceeds from stock issuance			—				1,569.1
Other			3.0				—
Net cash (used in) provided by financing activities			(2,523.0	)			3,587.0
Effect of foreign currency translation adjustment			4.8				3.6
Net (decrease) increase in cash and cash equivalents			(546.7	)			539.7
Cash and cash equivalents at beginning of year			1,070.4				530.7
Cash and cash equivalents at end of year		$	523.7			$	1,070.4

Table 1
Unaudited Consolidated Selected Information
(in millions)

		Three Months Ended								Year Ended
		December 31,								December 31,
		2010				2009				2010				2009
Claims Volume
Network			153.1				120.2				602.0				404.3
Home Delivery & Specialty (1)			13.6				12.2				54.1				45.0
Total claims			166.7				132.4				656.1				449.3
Total adjusted claims(2)			191.3				154.6				753.9				530.6
Depreciation and Amortization (D&A):
Revenue amortization(3)		$	28.5			$	9.5			$	114.0			$	9.5
Cost of revenues depreciation			11.8				6.9				40.0				23.8
Selling, general and administrative depreciation			13.3				10.4				50.0				38.7
Selling, general and administrative amortization			10.2				9.0				40.7				34.7
Total D&A		$	63.8			$	35.8			$	244.7			$	106.7
Generic Fill Rate
Network			73.9	%			70.4	%			72.7	%			69.6	%
Home Delivery			60.9	%			58.3	%			60.2	%			57.7	%
Overall			72.7	%			69.1	%			71.6	%			68.3	%

Note: See Appendix for footnotes.

Table 2
Calculation of Adjusted Gross Profit and SG&A
(in millions)

		Three Months Ended								Year Ended
		December 31,								December 31,
		2010				2009				2010				2009
Gross profit, as reported		$	773.4			$	687.7			$	2,958.2			$	2,424.0
Amortization of NextRx-related intangible assets (3)			28.5				9.5				114.0				9.5
Non-recurring integration-related costs (4)			31.8				7.5				94.5				7.5
Non-recurring benefit related to client contract amendment (5)			—				—				(30.0	)			—
Adjusted gross profit		$	833.7			$	704.7			$	3,136.7			$	2,441.0
Selling, general and administrative expenses, as reported		$	215.5			$	284.1			$	887.3			$	926.5
Amortization of legacy intangible assets (6)			8.5				8.5				34.2				34.2
Amortization of NextRx-related intangible assets (3)			1.7				0.5				6.5				0.5
Non-recurring integration-related costs (4)			5.4				—				28.1				—
Non-recurring transaction-related costs (7)			—				39.8				—				61.1
Non-recurring benefit related to insurance recovery (8)			—				—				—				(15.0	)
Non-recurring legal settlement(9)			—				—				—				35.0
Adjusted selling, general and administrative expenses		$	199.9			$	235.3			$	818.5			$	810.7

Note: See Appendix for footnotes.

The Company is providing adjusted gross profit and selling, general and administrative expenses excluding the impact of non-recurring charges and amortization of intangible assets in order to compare the underlying financial performance to prior periods.

Table 3
EBITDA Reconciliation
(in millions, except per claim data)

The following is a reconciliation of net income from continuing operations to EBITDA⁽¹⁰⁾ from continuing operations. The Company believes net income is the most directly comparable measure calculated under U.S. GAAP.

		Three Months Ended								Year Ended
		December 31,								December 31,
		2010				2009				2010				2009
Net income from continuing operations, as reported		$	329.6			$	223.1			$	1,204.6			$	826.6
Provision for income taxes			188.7				130.0				704.1				481.8
Depreciation and amortization			63.8				35.8				244.7				106.7
Interest expense, net			39.6				50.5				162.2				189.1
EBITDA from continuing operations, as reported			621.7				439.4				2,315.6				1,604.2
Non-recurring integration-related costs (4)			37.2				7.5				122.6				7.5
Non-recurring benefit related to client contract amendment (5)			—				—				(30.0	)			—
Non-recurring transaction-related costs (7)			—				39.8				—				61.1
Non-recurring benefit related to insurance recovery (8)			—				—				—				(15.0	)
Non-recurring legal settlement(9)			—				—				—				35.0
Adjusted EBITDA from continuing operations		$	658.9			$	486.7			$	2,408.2			$	1,692.8
Total adjusted claims			191.3				154.6				753.9				530.6
Adjusted EBITDA per adjusted claim		$	3.44			$	3.15			$	3.19			$	3.19

Note: See Appendix for footnotes.

The Company is providing EBITDA excluding the impact of non-recurring charges in order to compare the underlying financial performance to prior periods.

Table 4
Calculation of Adjusted EPS

		Three Months Ended								Year Ended
		December 31,								December 31,
		2010				2009				2010				2009
						(per diluted share)
EPS from continuing operations, as reported		$	0.62			$	0.40			$	2.21			$	1.55
Non-recurring items:
Integration-related costs (4)			0.04				0.01				0.14				0.01
Benefit related to client contract amendment (5)			—				—				(0.03	)			—
Transaction-related costs (7)			—				0.05				—				0.08
Benefit related to insurance recovery (8)			—				—				—				(0.02	)
Legal settlement (9)			—				—				—				0.04
Termination of bridge financing (11)			—				0.01				—				0.08
Amortization of:
Legacy intangible assets (6)			0.01				0.01				0.04				0.04
NextRx-related intangible assets (3)			0.04				0.01				0.14				0.01
EPS from continuing operations, adjusted		$	0.71			$	0.49			$	2.50			$	1.79
EPS from discontinued operations, as reported		$	—			$	—			$	(0.04	)		$	—
Non-recurring items:
Impairment and other charges (12)			—				—				0.04				—
EPS from discontinued operations, adjusted		$	—			$	—			$	—			$	—
Total EPS, adjusted		$	0.71			$	0.49			$	2.50			$	1.79

Note: See Appendix for footnotes.

The Company is providing diluted earnings per share excluding the impact of non-recurring charges and intangibles amortization in order to compare the underlying financial performance to prior periods.

Table 5
2011 Guidance Information

		Estimated
		Year Ended
		December 31, 2011
		(per diluted share)
Reaffirmed adjusted EPS guidance		$	3.15		to	$	3.25
GAAP items not included in guidance:
Amortization of legacy intangible assets (13)			0.04				0.04
Amortization of NextRx-related intangible assets (14)			0.15				0.15
Non-recurring charges related to the NextRx integration (15)			To be determined

Note: See Appendix for footnotes.

Appendix
Footnotes