McKesson and Walmart yesterday announced the signing of a sourcing agreement for generic pharmaceuticals and an expanded long-term distribution agreement. The two companies said they will collaborate on sourcing generic pharmaceuticals for their respective US operations, adding scale to their operations to secure better prices for customers.
A statement said the move was natural next step for the two companies that have a history of working together to lower the cost of pharmaceutical care. It added that the new sourcing agreement leverages McKesson’s strength and expertise in the global pharmaceutical industry and Walmart’s commitment to delivering 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.”
George Riedl, senior vice president and president, Health and Wellness, at Walmart US, added: “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. 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.”
- …and why limit the arrangement to generics..?
- Best for suppliers to anticipate the inevitable?