* Transition expected to be completed in November
* Comes after Medco bought out another int'l partner
Oct 17 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
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