Medco reports $1.2 billion in EBIDTA for 2004

The flip side of all the articles bemoaning big pharma's loss of market to generics: the generic companies are reporting record earnings.

"We increased the efficiency of our operations and demonstrated the value to our clients and shareholders of higher mail order penetration and the use of lower-cost generic drugs. We believe there are opportunities to continue this progress over the next several years as the benefits of mail order are more broadly appreciated by the marketplace, and brand-name drugs lose their patent protection from generic equivalents," added Snow.