February 22, 2019 / 1:46 PM / 8 months ago

Diplomat Pharmacy delays annual results after impairment charge

Feb 22 (Reuters) - Diplomat Pharmacy Inc said on Friday it would delay its annual and fourth-quarter results after determining that the company will need to record a charge related to its pharmacy benefits management (PBM) business.

The charge relates to the 2017 acquisitions of NPS and LDI and is driven by reduced financial forecasts for the PBM business, Diplomat said.

The charge is expected to be equal to a significant portion of the PBM’s goodwill assets, which totaled about $630 million as of Dec. 31, the company said.

Reporting by Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila

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