Navigation Links
Medco Completes Acquisition of United BioSource Corporation, Creating Powerful Engine for Rapidly Advancing Clinical Insight and Innovation
Date:9/17/2010

FRANKLIN LAKES, N.J., Sept. 17 /PRNewswire-FirstCall/ -- Medco Health Solutions, Inc. (NYSE: MHS) on Thursday completed its acquisition of United BioSource Corporation (UBC) in an all-cash transaction valued at approximately $730 million, creating a complementary and comprehensive research organization that extends Medco's core capabilities in data analytics and research to accelerate pharmaceutical knowledge – advancing patient safety and contributing to the body of evidence-based medicine.

(Logo: http://photos.prnewswire.com/prnh/20100609/MEDCOLOGO)

(Logo: http://www.newscom.com/cgi-bin/prnh/20100609/MEDCOLOGO)

"With its global presence and emphasis on post-approval drug research that is designed to guide the safest and most efficient use of the most effective medicines, this acquisition is perfectly aligned with our broader strategy to 'make medicine smarter,'"  said David B. Snow Jr., Medco chairman and CEO.  "There is a large pipeline of new, complex biotechnology products -- including oncology drugs -- that will require an on-going collection of evidence in the commercial market to ensure safety, manage risk, address effectiveness and evaluate economic outcomes.  These medicines are the same class of products that benefit most from specialty distribution.  The combination of UBC, Accredo and our world class mail-order pharmacy positions Medco to offer unique and innovative services that offer the benefit all players in the health care system seek: getting the right medicine to the right person as efficiently as possible."

UBC is now a wholly-owned subsidiary of Medco that will run independently from Medco's core business to ensure compliance with contractual requirements and client expectations.  Dr. Robert S. Epstein, Medco's chief medical officer and president of the Medco Research Institute™, will have overall responsibility for the UBC business.  UBC Chief Executive Officer Ethan Leder will continue in his position, overseeing the company's current operations.

The transaction was funded with the proceeds of Medco's recently completed senior notes offering.  The new business is expected to be slightly accretive to Medco shareholders in 2011, excluding one-time items and amortization.

UBC is a global scientific and medical affairs organization that partners with life science companies to deliver authoritative, real-world evidence to characterize product effectiveness, address safety risk, and demonstrate value.  UBC's initiatives revolve around safety and risk management, as well as health economics and outcomes research, and have included large prospective safety studies, risk, evaluation and mitigation studies (REMS), cost-benefit and cost-effectiveness evaluations, budget-impact modeling, and epidemiologic studies among the broad suite of services that it brings to its clients.  UBC has the capacity to conduct post-approval research in strategic locations worldwide including the U.S., Europe, and Japan.

About Medco

Medco Health Solutions, Inc. (NYSE: MHS) is pioneering the world's most advanced pharmacy® and its clinical research and innovations are part of Medco making medicine smarter™ for approximately 65 million members.

With more than 20,000 employees dedicated to improving patient health and reducing costs for a wide range of public and private sector clients, and 2009 revenues of nearly $60 billion, Medco ranks 35th on the Fortune 500 list and is named among the world's most innovative, most admired and most trustworthy companies. 

For more information, go to http://www.medcohealth.com.

Safe Harbor Statement

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995.  These statements involve risks and uncertainties that may cause results to differ materially from those set forth in the statements.  No forward-looking statement can be guaranteed, and actual results may differ materially from those projected.  We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.  Forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about the business and future events.  We use words such as "anticipates," "believes," "plans," "expects," "projects," "future," "intends," "may," "will," "should," "could," "estimates," "predicts," "potential," "continue," "guidance" and similar expressions to identify these forward-looking statements.  The following factors, among others, could cause Medco's actual results to differ from the results contemplated by these forward-looking statements: the risk that the businesses of UBC will not be integrated successfully; and disruption from the transaction making it more difficult to maintain relationships with customers and employees.  The foregoing list of factors is not exhaustive.  You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the Securities and Exchange Commission.


'/>"/>
SOURCE Medco Health Solutions, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Medco Announces Date for Third-Quarter 2009 Financial Results; Company to Provide 2010 Earnings Guidance
2. Medcos 2010 Medicare Prescription Drug Plan Helps People Take an Active Part in Lowering Prescription Costs
3. The Medco Foundation Joins With the Entertainment Industry Foundation to Give Health a Hand to Communities in Need
4. Medco to Present at November 2009 Investor Conferences
5. Medco Delivers Record Third-Quarter 2009 GAAP Diluted EPS of $0.69; Diluted EPS Excluding Amortization of Intangible Assets of $0.75
6. NxStage(R) and Nordic Medcom Sign Distribution Agreement for the System One(TM)
7. Medco to Advance Cancer Care with Personalized and Specialized Treatment for Oncology Patients
8. Medco to Present at Upcoming Investor Conferences
9. Medco Partners with AmeriCares to Rush Donated Medicines to Help Victims of the Haiti Earthquake
10. Medco Reforming Healthcare with Smarter Medicine; Wired, Transformational Pharmacy Model Advances Clinical Quality and Lowers Cost
11. Medco, State of Illinois and Community Retail Pharmacies Launch Wired Collaborative Solution to Close Critical Medication-Related Gaps in Healthcare, Improving Outcomes and Lowering Costs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... MONMOUTH JUNCTION, N.J. , Dec. 2, 2016 /PRNewswire/ ... critical care immunotherapy leader commercializing its European Union approved ... in critically-ill and cardiac surgery patients worldwide, announced that ... present at the 9th Annual LD Micro Main ... 8 th , 2016 at the Luxe Sunset Boulevard ...
(Date:12/2/2016)... LYME, Conn. , Dec. 1, 2016  Today, ... has announced the honor of being selected as winners ... include: Simpson Healthcare Executives Website at the PLATINUM level, ... Conversations Training Module at the GOLD Level, and our ... At Simpson Healthcare Executives, we are excited ...
(Date:12/2/2016)... YORK , December 2, 2016 ... of its past losses following Trump,s victory early in ... potential, and fund managers are now predicting an uptick ... at four equities to see how they have fared ... CLDX ), Amicus Therapeutics Inc. (NASDAQ: ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... ... launch of its 60-day free trial program for all of the company’s desktop ... offer a truly hassle free experience. , FlexiSpot’s unique desktop risers use an ...
(Date:12/2/2016)... ... ... The annual time frame to change Medicare health and prescription drug coverage, known ... Medicare beneficiaries who are looking to switch from their current plan to a Medicare ... during this period order for their new policy to go into effect in 2017. ...
(Date:12/2/2016)... ... December 02, 2016 , ... With the number of pain management programs available ... must find the one that works for them. When an inventor from Suisun City, ... worked and decided to share it with others. , He developed a prototype for ...
(Date:12/2/2016)... ... December 02, 2016 , ... Dr. Raffi Hovsepian, a leading ... the 2016 “Guide to America’s Top Plastic Surgeons” for seven consecutive years. The ... education, experience, and professional associations. , One the most frequently honored surgeons ...
(Date:12/2/2016)... ... December 02, 2016 , ... Mediaplanet is proud to announce ... covers the innovative treatments, therapeutic technologies, and revolutionized nutrition that are helping patients ... life 6 years in the last 3 decades,” says Dr. Valentine Fuster, a ...
Breaking Medicine News(10 mins):