US retailer Walmart and health care company McKesson Corporation have made a new agreement to jointly source pharmaceuticals.
With the signing of a sourcing agreement for generic pharmaceuticals and an expanded long-term distribution agreement, the organisations aim to collaborate on sourcing for their respective US operations, drive efficiencies and add scale and value for both companies.
Wamart said that the new agreement was a natural next step for the two firms, and that it leveraged McKesson’s strength and expertise in the global pharmaceutical industry and Walmart’s commitment to delivering health and wellness services at a low price to its customers.
Mark Walchirk, the president of McKesson US Pharmaceutical, said that the two companies had worked together for decades to bring more efficiency and value to the health care supply chain.
“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,” he said.
George Riedl, a senior vice president and president of health and wellness at Walmart US said: “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.”