Addressing the Pharmacist Shortage: Medco Labor Coalition(TM) Launches
National Scholarship Program to Support the Development of the Next Generation
of Pharmacists
Coalition Seeking Students with a Prescription for Improving Pharmacy Care in
America
FRANKLIN LAKES, N.J., Feb. 13 /PRNewswire-FirstCall/ -- Prescription
medication use in the United States continues to surge, driven by an aging
population, longer life expectancy and the development of exciting new
therapies that hold great promise in addressing the ills of millions of
patients. However, numerous national reports reveal a looming healthcare
crisis within the next decade -- a national shortage of 157,000 pharmacists
needed to, quite literally, fill the prescription healthcare needs of millions
of patients.
As part of its continued dedication to addressing the pharmacy care needs
in America, Medco Health Solutions, Inc. (NYSE: MHS) today announced a
national scholarship program to identify and support the development of the
next generation of pharmacists. The scholarship program -- one of a number of
initiatives Medco has undertaken to advance pharmacy care in America -- will
be conducted through the Medco Labor Coalition, the nation's only coalition
dedicated to providing pharmacy benefits to small and mid-size labor unions.
"A career in pharmacy is now so much more than it was just a few years
ago, literally transcending plastic trays and counting pills to now
encompassing everything from genetics and personalized medicine to electronic
prescribing," said Pamela T. Miller, vice president market strategy and
development, Medco. "Delivering prescription care in the 21st century presents
one of the greatest domestic healthcare challenges to our nation, and we're
excited to support students today who hold the promise for tomorrow."
Within just the past decade, the role of the pharmacist has moved beyond
the corner druggist to exciting careers that touch engineering, genetics,
manufacturing, drug development, public policy and clinical specialization.
For its part, Medco has instituted a number of initiatives to drive
improvement in pharmacy care in America. Most recently, Medco became the only
pharmacy in the United States to offer care from more than 800 specialist
pharmacists trained in one of eight chronic disease categories. Medco is
driving the future application of technologies such as personalized medicine
through research partnerships with the Mayo Clinic and LabCorp; automated
dispensing to improve dispensing accuracy as illustrated in its two automated
pharmacies; and electronic prescribing through innovative efforts like the
Southeast Michigan e-Prescribing Initiative (SEMI). The company also provides
scholarship grants to 19 schools of pharmacy in the United States to foster
learning and expand pharmacy training.
"This is an exciting time to consider a career in pharmacy, because there
are so many ways that one can make an impact on millions of Americans," said
Medco Chief Pharmacist Roger Anderson, Dr.P.H. "We are leading the emergence
of many of the most exciting advances in pharmacy care, and we're excited to
be able to provide opportunities to those students who want to make a
difference."
The Medco Labor Coalition Scholarship is based on a combination of
academic achievement, commitment to a career in pharmacy, leadership and
community service. The number of recipients and the amount of the scholarship
to each student will be decided on an annual basis by Medco. Awardees will be
chosen on an annual basis by an independent scholarship service retained by
Medco to administer the program. Scholarship eligibility is exclusively for
biological and legally adopted children of members of union clients in the
Medco Labor Coalition.
The competitive selection process will give consideration to the
respective ability, educational goals, career ambitions, and the relative
financial need of the applicants by an independent awards advisory committee,
comprised of college officials. In addition to receiving a financial
scholarship award, recipients will be considered for a summer internship at
Medco during the year their scholarship is granted.
The application deadline is April 15, 2008. Paper applications can be
mailed to Medco Labor Coalition Scholarship, 4320-G Wade Hampton Blvd.,
Taylors, SC, 29687. The applicant's name and Medco Labor Coalition must be
included on each page. Students wishing to apply online can go to
www.scholarshipprograms.org and click on the "Scholarship Programs" link. The
Medco Labor Coalition section of the site lists eligibility and other
scholarship requirements.
The Medco Labor Coalition is the first coalition designed to provide
pharmacy benefits for small-to-midsize unions to work directly with a pharmacy
benefit manager. It offers pricing for benefits comparable to that experienced
by larger labor organizations. The 88,000-member coalition, which was founded
last year, is comprised of 44 labor unions spanning a wide variety of trades.
Medco Labor Coalition is a trademark of Medco Health Solutions.
About Medco
Medco Health Solutions, Inc. (NYSE: MHS) is the nation's leading pharmacy
benefit manager based on its 2006 total net revenues of more than $42 billion.
Medco's prescription drug benefit programs, covering one in five Americans,
are designed to drive down the cost of pharmacy health care for private and
public employers, health plans, labor unions and government agencies of all
sizes, and for individuals served by the Medicare Part D Prescription Drug
Program. Medco, the world's most advanced pharmacy(TM) has created Medco
Therapeutic Resource Centers(R) that are staffed with hundreds of specialist
pharmacists trained and certified in specific chronic and complex conditions
and have expertise in the medications that treat them. Medco is the nation's
largest diabetes pharmacy care practice based on covered lives with the 2007
acquisition of the Liberty Medical, and the largest specialty pharmacy based
on net revenues with the 2005 acquisition of Accredo Health, Incorporated.
Medco is the highest-ranked independent pharmacy benefit manager on the 2007
Fortune 500 list. On the Net: http://www.medco.com.
SOURCE Medco Health Solutions, Inc.
Soraya Rodriguez-Balzac of Medco Health Solutions, +1-201-269-6552,
soraya_rodriguez-balzac@medco.com; Erin Drelick, Coyne Public Relations,
+1-973-316-1665, edrelick@coynepr.com
