Anthem raises profit forecast on Medicaid boost

FILE PHOTO: The office building of health insurer Anthem is seen in Los Angeles, California February 5, 2015. REUTERS/Gus Ruelas/File Photo

(Reuters) – Health insurer Anthem Inc raised its full-year adjusted profit forecast on Wednesday, on strong performance from its Medicaid unit and the business that houses its pharmacy benefits management unit.

The company now expects adjusted net income of over $28.40 per share, compared with its prior forecast of more than $28.25 per share.

Anthem said medical enrollment in its health plans increased by 3.3 million members from a year earlier.

Net income attributable to shareholders rose to $1.81 billion, or $7.39 per share, in the first quarter ended March 31 from $1.67 billion, or $6.71 per share, a year earlier.

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