UPDATE 1-Medco to buy out British JV partner United Drug
* Transition expected to be completed in November
* Comes after Medco bought out another int'l partner
Oct 17 (Reuters) - Medco Health Solutions Inc agreed to buy out Dublin-based United Drug Plc's half of their British home care joint venture, the second international partnership the U.S. company has assumed control of in the past month.
Medco, one of the largest U.S. managers of prescription drug benefits, has been seeking to plant roots internationally.
However, Medco agreed earlier this year to be bought for $29 billion by rival Express Scripts Inc , whose CEO has been more circumspect about international expansion.
Launched in 2009, United Drug's partnership with Medco focused on the British pharmacy homecare market, providing service to patients with chronic and complex conditions and supporting National Health Service (NHS) initiatives.
Medco said it would continue to offer the NHS services including prescription drug dispensing and home delivery as well as home nursing support for the administration of oral, injectable and infused medicines.
The transition is to be completed in November, although United Drug will continue to provide clinical and logistical support, the companies said on Monday. Financial terms of the agreement were not disclosed.
Medco's British operations will be integrated into Medco International's headquarters in Amsterdam.
Brian Griffin, president of Medco International, said in a statement that the company continues to be "enthusiastic about the UK pharmacy homecare market."
Last month, Celesio , Europe's biggest drug distributor, announced it would exit its medical-insurance services joint venture with Medco that was designed to help medical insurers encourage chronically ill patients to stick to their therapy.