ST. LOUIS and DEERFIELD, Ill., Feb. 20, 2018 /PRNewswire/ -- Express Scripts Holding Company (NASDAQ: ESRX) and Walgreens Boots Alliance, Inc. (NASDAQ: WBA) today announced they are expanding their group purchasing efforts to include the procurement of specialty brand drugs. Given the savings potential associated with biosimilars in the coming years, the two companies believe this expansion is particularly timely.
Their work will be supported by ValoremRx Specialty Solutions, LLC, which will source specialty pharmaceuticals to simplify the global supply chain and lower costs for patients and clients, including patients using Express Scripts' specialty pharmacy Accredo® and Walgreens specialty pharmacy.
"Specialty medications represent the most costly and complex drugs. By expanding our efforts with Walgreens Boots Alliance, we will improve our supply chain and ultimately make the use of these medicines, including biosimilars, more affordable and accessible for our patients and clients," said Express Scripts President and CEO Tim Wentworth.
"As prescription drug needs evolve and specialty medications are prescribed more often, we continue to look for new solutions that will help our patients get the medications they need at an affordable price," said Walgreens Boots Alliance Co-Chief Operating Officer Alex Gourlay. "Working with Express Scripts, we are partnering to deliver even more value to our patients and clients to improve health outcomes."
About Express Scripts
Express Scripts is leading the way for tens of millions of people by aligning with plan sponsors, taking bold action and delivering patient-centered care to make better health more affordable and accessible.
Headquartered in St. Louis, Express Scripts provides a full range of integrated pharmacy benefit management services, including home delivery pharmacy care, specialty pharmacy care and benefit management, benefit-design consultation, drug utilization review, formulary management and medical and drug data analysis, that guide patients and plans toward better health by prioritizing care and increasing savings. Our services drive down the cost of care for employer-funded, Medicare, Medicaid and Public Exchange plans, and create the headroom needed to keep patients' cost-share low, access broad, and do more for those who are challenged by high out-of-pocket costs. Express Scripts also distributes a full range of biopharmaceutical products and offers innovative medical benefit management services.
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The company's heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 385,000* people. The company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has more than 13,200* stores in 11* countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with more than 390* distribution centers delivering to more than 230,000** pharmacies, doctors, health centers and hospitals each year in more than 20* countries. In addition, Walgreens Boots Alliance is one of the world's largest purchasers of prescription drugs and many other health and wellbeing products.
The company's portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Soap & Glory, Liz Earle, Sleek MakeUP and Botanics.