Medco Health Solutions, Inc.has completed its acquisition of United BioSource Corporation (UBC) in an all-cash transaction valued at approximately $730 million, creating a complementary and comprehensive research organization that extends Medco’s core capabilities in data analytics and research to accelerate pharmaceutical knowledge – advancing patient safety and contributing to the body of evidence-based medicine.
“With its global presence and emphasis on post-approval drug research that is designed to guide the safest and most efficient use of the most effective medicines, this acquisition is perfectly aligned with our broader strategy to ‘make medicine smarter,'” said David B. Snow Jr., Medco chairman and CEO. “There is a large pipeline of new, complex biotechnology products — including oncology drugs – that will require an on-going collection of evidence in the commercial
market to ensure safety, manage risk, address effectiveness and evaluate economic outcomes. These medicines are the same class of products that benefit most from specialty distribution. The combination of UBC, Accredo and our world class mail-order pharmacy positions Medco to offer unique and innovative services that offer the benefit all players in the health care system seek: getting the right medicine to the right person as efficiently as possible.”
UBC is now a wholly-owned subsidiary of Medco that will run independently from Medco’s core business to ensure compliance with contractual requirements and client expectations. Dr. Robert S. Epstein, Medco’s chief medical officer and president of the Medco Research InstituteT, will have overall responsibility for the UBC business. UBC Chief Executive Officer Ethan Leder will continue in his position, overseeing the company’s current operations.
