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Friday 27 July 2012

Magellan Health 2Q profit falls 21 percent

(AP) ? Magellan Health Services Inc.'s second-quarter earnings fell 21 percent as the cost of care and other expenses countered revenue gains for the health care management company. Magellan manages behavioral health, radiology, specialty pharmaceutical and public sector pharmacy benefits programs. Magellan also said Friday it was reaffirming its 2012 guidance, which calls for earnings to range between $3.25 and $3.89 per share on revenue of between $3.2 billion and $3.4 billion.

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