SAN FRANCISCO & BENTONVILLE, Ark.--(BUSINESS WIRE)--McKesson Corporation (NYSE:MCK) and Wal-Mart Stores, Inc. (NYSE:WMT)
announced the signing of a sourcing agreement for generic
pharmaceuticals and an expanded long-term distribution agreement. The
organizations will collaborate on sourcing generic pharmaceuticals for
their respective U.S. operations, adding scale and value for both
companies.
This is a natural next step for two companies that have a history of
working together to lower the cost of pharmaceutical care. The new
sourcing agreement leverages McKesson’s demonstrated strength and
expertise in the global pharmaceutical industry and Walmart’s proven
commitment to delivering leading health and wellness services at an
everyday low price to its customers.
“McKesson and Walmart have worked together for decades and throughout
our relationship both companies have engaged in an on-going dialogue
about how we can work together to bring more efficiency and value to the
health care supply chain,” said Mark Walchirk, president, McKesson U.S.
Pharmaceutical. “Expanding our relationship to include a sourcing
partnership for generics makes economic and strategic sense for both of
us—by bringing together our respective scale and sourcing expertise, we
will make our businesses stronger and create more value for our
customers and patients.”
“Walmart and McKesson have built a strong business relationship over the
past 30 years by working together to help lower the cost of health
care,” said George Riedl, senior vice president and president, Health
and Wellness, Walmart U.S. “The dynamics of health care continue to
change, and we’re changing with it. It’s why we are taking our
relationship with McKesson to the next level, using our combined size
and scale to drive efficiencies, something that is core to our business.”
About McKesson Corporation
McKesson Corporation, currently ranked 11th on the FORTUNE 500, is a
health care services and information technology company dedicated to
making the business of health care run better. McKesson partners with
payers, hospitals, physician offices, pharmacies, pharmaceutical
companies and others across the spectrum of care to build healthier
organizations that deliver better care to patients in every setting.
McKesson helps its customers improve their financial, operational, and
clinical performance with solutions that include pharmaceutical and
medical-surgical supply management, health care information technology,
and business and clinical services. For more information, visit www.mckesson.com.
About Walmart
Wal-Mart Stores, Inc. (NYSE:WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores, online,
and through their mobile devices. Each week, nearly 260 million
customers and members visit our 11,528 stores under 72 banners in 28
countries and e-commerce websites in 11 countries. With fiscal year 2016
revenue of $482.1 billion, Walmart employs approximately 2.3 million
associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
