- 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
SAN FRANCISCO, CA and
BENTONVILLE, AR (May 16, 2016) – 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.
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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