FRANKFURT Oct 8 German drugs distributor
Celesio is in no rush to forge an alliance or merger
with a U.S. peer even though this would have some merits, its
chief executive told a German newspaper.
Reuters reported in July that U.S. drugs distribution groups
McKesson Corp and Cardinal Health were both in
talks to possibly take a stake in Celesio.
"There is no urgent need for such an alliance (with a U.S.
partner) even though it may indeed offer opportunities," CEO
Marion Helmes was quoted as saying in the Tuesday edition of
The merit of a transatlantic tie-up would mainly be to bulk
up purchasing power to get better discounts from generic
drugmakers, she added.
In March, pharmacy chain Walgreen Co and its
European partner Alliance Boots signed a 10-year
purchasing deal with AmerisourceBergen.
Celesio, active in both drugs wholesale and retail, has sped
up the expansion of its network of pharmacies in continental
Europe under the Lloyds brand, and aims to significantly
increase its earnings next year, Helmes also said.
The price war among German drugs distributors, which forced
Celesio to cut its full-year outlook in August, continues to
rage but discounts have stabilised, she said.
"Obviously no drugs distributor in the German market is
making money any more. That's why we expect more reasonable
competition in 2014."