Walgreen to acquire McKesson pharmacy unit

27 October 2008

Walgreen, the USA's largest drugstore chain, has signed a definitive agreement to acquire McKesson Corp's specialty pharmacy, which is a business within the latter's specialty division. Terms of the deal were not disclosed. The acquisition will further strengthen Walgreen's position as the fourth-largest specialty pharmacy in the country. Subject to satisfaction of customary conditions, the parties expect the transaction to close within 60 days.

"The acquisition of McKesson's specialty pharmacy operations offers the opportunity to grow our own specialty pharmacy business with preferred payer agreements," said Stanley Blaylock, president of Walgreen's Health Services. "This transaction will broaden access for patients and clients in the fast-growing oncology area and other specialty areas including multiple sclerosis, rheumatoid arthritis and reproductive health services," he added.

The purchase includes the McKesson specialty pharmacy in Pittsburgh, Pennsylvania, and IVPCARE based in Frisco, Texas, with operations in Torrence, California, Wilmington, Massachusetts and St Louis.

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