McKesson and Walmart Announce Sourcing Agreement for Generic Pharmaceuticals
May 16 2016 - 8:00AM
Business Wire
- McKesson and Walmart to jointly source
generic pharmaceuticals, driving efficiencies and adding scale and
value for both companies
- Agreement leverages McKesson’s
demonstrated strength and expertise in the global pharmaceutical
industry and Walmart’s proven commitment to delivering leading
health and wellness services at an everyday low price
- Expands long-term distribution
agreement
McKesson Corporation (NYSE:MCK) and Wal-Mart Stores, Inc.
(NYSE:WMT) announced the signing of a sourcing agreement for
generic pharmaceuticals and an expanded long-term distribution
agreement. The organizations will collaborate on sourcing generic
pharmaceuticals for their respective U.S. operations, adding scale
and value for both companies.
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This is a natural next step for two companies that have a
history of working together to lower the cost of pharmaceutical
care. The new sourcing agreement leverages McKesson’s demonstrated
strength and expertise in the global pharmaceutical industry and
Walmart’s proven commitment to delivering leading health and
wellness services at an everyday low price to its customers.
“McKesson and Walmart have worked together for decades and
throughout our relationship both companies have engaged in an
on-going dialogue about how we can work together to bring more
efficiency and value to the health care supply chain,” said Mark
Walchirk, president, McKesson U.S. Pharmaceutical. “Expanding our
relationship to include a sourcing partnership for generics makes
economic and strategic sense for both of us—by bringing together
our respective scale and sourcing expertise, we will make our
businesses stronger and create more value for our customers and
patients.”
“Walmart and McKesson have built a strong business relationship
over the past 30 years by working together to help lower the cost
of health care,” said George Riedl, senior vice president and
president, Health and Wellness, Walmart U.S. “The dynamics of
health care continue to change, and we’re changing with it. It’s
why we are taking our relationship with McKesson to the next level,
using our combined size and scale to drive efficiencies, something
that is core to our business.”
About McKesson Corporation
McKesson Corporation, currently ranked 11th on the FORTUNE 500,
is a health care services and information technology company
dedicated to making the business of health care run better.
McKesson partners with payers, hospitals, physician offices,
pharmacies, pharmaceutical companies and others across the spectrum
of care to build healthier organizations that deliver better care
to patients in every setting. McKesson helps its customers improve
their financial, operational, and clinical performance with
solutions that include pharmaceutical and medical-surgical supply
management, health care information technology, and business and
clinical services. For more information,
visit www.mckesson.com.
About Walmart
Wal-Mart Stores, Inc. (NYSE:WMT) helps people around the world
save money and live better - anytime and anywhere - in retail
stores, online, and through their mobile devices. Each week, nearly
260 million customers and members visit our 11,528 stores under 72
banners in 28 countries and e-commerce websites in 11 countries.
With fiscal year 2016 revenue of $482.1 billion, Walmart employs
approximately 2.3 million associates worldwide. Walmart continues
to be a leader in sustainability, corporate philanthropy and
employment opportunity. Additional information about Walmart can be
found by visiting http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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version on businesswire.com: http://www.businesswire.com/news/home/20160516005458/en/
McKesson Corporation Contacts:Investors and Financial
Media:Erin Lampert, 415-983-8391Erin.Lampert@mckesson.comorGeneral
and Business Media:Kris Fortner,
415-983-8352Kris.Fortner@mckesson.comorWal-Mart Stores Inc.
Contacts:Investor Relations:Kary Brunner,
479-277-8782kary.brunner@walmart.comorMedia:Randy Hargrove and
Molly
Blakeman1-800-331-0085http://corporate.walmart.com/contact-us/contact-media-relations
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