HLEX Healthextras (MM)

Catalyst Rx, the pharmacy benefit management (PBM) subsidiary of HealthExtras, Inc. (NASDAQ:HLEX) announces its Generic Advantage Plan. Developed after more than a year of consultation with Catalyst Rx�s clients, the new plan offers the absolute lowest generic drug prices through mail and eliminates the significant markup traditional PBMs add to their client mail pricing. David Blair, Chief Executive Officer of Catalyst Rx, stated, �The new Generic Advantage Plan is the natural evolution of the Catalyst Rx PBM model. Namely, pricing transparency and honesty with our clients.� Mr. Blair went on to say, �It is the Catalyst Rx commitment to pricing transparency that has been embraced by our growing client base and is a key reason that Catalyst Rx has grown at a rate substantially greater than any of its competitors.� Two specific examples demonstrate the dramatic savings available to Catalyst Rx clients as a result of the Generic Advantage Plan. A 90-day supply of the commonly prescribed omeprazole (generic Prilosec�, Rapinex�) costs an average of $120 through a mail service pharmacy while the same dosage, strength and form, can be purchased using the Generic Advantage Plan pricing model for $34. As a further example, a 90-day supply of the widely used simvastatin (generic Zocor�) averages $142 when dispensed through traditional mail service; the same medication would cost the client only $16 utilizing the Generic Advantage Plan pricing model. The Generic Advantage Plan prices noted above are a direct pass-through of drug purchase prices along with a per-claim dispensing fee. The plan is fully auditable. By utilizing this revolutionary pricing model, Catalyst Rx�s clients can reduce total mail service drug costs up to 15 percent and should realize additional savings as generic utilization continues to grow. By 2010, an estimated 110 branded drugs, currently generating $50 billion in sales, are projected to lose their patent protection and mail delivery of chronic medications is predicted to increase with the aging population. The Catalyst Rx Generic Advantage Plan is a series of customizable initiatives designed to maximize quality of care, increase generic utilization and drive patients to lowest cost providers, resulting in greater overall savings to the plan and its members. About Catalyst Rx Catalyst Rx is a full service pharmacy benefit management (PBM) company providing effective solutions to manage pharmacy benefit plans for self-insured employers, including state and local governments, third party administrators, managed care organizations and individuals. Founded in 1994 and developed around strong, innovative principles in the management of prescription drug programs, Catalyst Rx currently manages approximately 5 million members located in all 50 states. The Company�s continued commitment to innovation, efficiency and superior customer service has provided the most care- and cost-effective pharmacy solutions to its clients and their members. This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve a number of risks and uncertainties. Factors that we have identified that might materially affect our results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 under "Item 1.A Risk Factors." Readers are urged to carefully review and consider the various disclosures made in our Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and uncertainties that may affect our business.