McKesson Corp. and Wal-Mart Stores Inc. announced this week their collaboration in sourcing generic pharmaceuticals, which combines McKesson's expertise in the pharmaceutical industry with Walmart's commitment to low prices.
“McKesson and Walmart have worked together for decades and throughout our relationship both companies have engaged in an ongoing dialogue about how we can work together to bring more efficiency and value to the health care supply chain,” McKesson U.S. Pharmaceutical President Mark Walchirk said. “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.”
The sourcing agreement includes an expanded long-term distribution agreement. The two companies will continue their long relationship and history of working to lower costs while providing health and wellness services to budget-minded consumers.
“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,” Walmart Health and Wellness President SVP George Riedl said. “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.”
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