UPDATE 2-Catamaran revenue miss, contract concerns weigh on shares

Thu May 2, 2013 1:39pm EDT
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* First-quarter EPS $0.42 vs est $0.40

* Revenue misses estimates

* Reaffirms full-year revenue, profit outlook

* Gives no clarity on contract with Cigna

* Shares fall as much as 11 pct (Adds analyst comment, conference call details, share movement)

May 2 (Reuters) - Pharmacy benefit manager Catamaran Corp's first-quarter revenue miss and concerns about the renewal of a major contract sent its shares down as much as 11 percent.

Investors were looking for clarity on Catamaran's contract with Medicare provider HealthSpring, which was acquired by U.S. health insurer Cigna Corp.

The contract, which brought in about a third of Catamaran's 2012 revenue of $9.94 billion, is up for renewal this year.

In a call with analysts, Chief Executive Mark Thierer said the company had "good business relationship" with Cigna but did not provide any details on the renewal of the contract.   Continued...