Fairleigh Dickinson University Announces Partnership with Medco Health Solutions, Inc. for New School of Pharmacy

MADISON, N.J., Feb. 3, 2011 /PRNewswire/ -- Fairleigh Dickinson University and Medco Health Solutions, Inc. today announced that the company has made a commitment of $5 million to support the opening of a new school of pharmacy in fall 2012.

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The Medco School of Pharmacy at Fairleigh Dickinson University will become New Jersey's first pharmacy school affiliated with an independent university. The school, operating within the College at Florham's Maxwell Becton College of Arts and Sciences, will admit up to 85 students per year who can choose from multiple dual-degree options leading to a combined Pharm.D. and master's degree.

"For the last decade, Medco has pioneered new pharmacy practice models, with a particular focus on personalized medicine and specialized care for patients with chronic conditions in an effort to improve the overall health of our members and reduce costs for payors," said David B. Snow Jr., Medco Chairman and CEO. "We are proud to work with Fairleigh Dickinson University in the opening of the Medco School of Pharmacy and to offer our experience and expertise in support of a new generation of pharmacy school graduates who will be able to apply their education across a wide range of health care fields. We also look forward to collaborating on new advancements in the practice of pharmacy and on research initiatives of mutual interest. Together we can have an even greater impact on health care in our country."

Medco Health Solutions, headquartered in Franklin Lakes, N.J., is one of the nation's leading health care companies. Medco uses clinically driven pharmacy services to improve the quality of care and lower total health care costs for more than 65 million Americans. The Medco Pharmacy is one of the world's largest, with three fully automated dispensing pharmacies that together fill more than 100 million prescriptions each year.

"We are very excited that our global vision is now a shared partnership with industry leader Medco," said FDU President J. Michael Adams. "Together we have the combined resolve, resolution and resources to make a profound impact on the future of the health care industry."

The Medco School of Pharmacy at FDU will help address the growing need for licensed pharmacists who can incorporate advances in technology into health care service delivery and make changes in practice models needed to accommodate the increasing demands placed on health care services from an aging population and health care reform. In addition to addressing individual patient care needs in health care settings, professionals educated in pharmacy with specialty knowledge are increasingly sought by health care product and service industries, public and private health care payer organizations, academic institutions and state and federal regulatory agencies.

FDU received state approval for the new school in 2009 and hired Dr. Ruth Nemire, formerly associate dean at Touro College of Pharmacy in New York City, as its founding dean in November 2010. Only one other degree-granting pharmacy school currently operates in New Jersey.

"No other pharmacy school in the country offers the range of dual-degree programs that the Medco School will provide," Nemire said. "At Fairleigh Dickinson, we are building a program that is at the heart of a revolution in the education and practice of pharmacy."

When the school opens next year, the available tracks will combine a Pharm.D. with a master of science degree in pharmaceutical science, MBA or master of public administration. M.S. degree options to be added following state approval will be in regulatory affairs, clinical science, health humanities, health communications and health and pharmacy bioinformatics. Students can also opt for a Pharm.D. only.

"The University's location in the heart of New Jersey's health care industry and our agreements with leading New Jersey health care providers, the United Nations and global partners will ensure that students have ample opportunities for mentoring and networking with future employers," Nemire said. "In line with the University's mission as a global university, this new school will educate and train students from the region, the nation and around the world to provide vital health care services in this country and internationally."

The Medco School of Pharmacy has applied for accreditation from the American Council for Pharmacy Education.  

About Fairleigh Dickinson University

Devoted to the preparation of world citizens through global education, Fairleigh Dickinson is New Jersey's largest private university and features more than 100 liberal arts and professional degree programs, two international campuses, dozens of partnerships with internationally renowned institutions and special programs and status within the United Nations. For more information, go to www.fdu.edu.

About Medco

Medco Health Solutions, Inc. (NYSE: MHS) is pioneering the world's most advanced pharmacy® and its clinical research and innovations are part of Medco making medicine smarter™ for more than 65 million members.

With more than 23,000 employees dedicated to improving patient health and reducing costs for a wide range of public and private sector clients, and estimated 2010 revenues of more than $65 billion, Medco ranks 35th on the 2010 Fortune 500 list and is named among the world's most innovative, most admired and most trustworthy companies. 

For more information, go to http://www.medcohealth.com.

SOURCE Medco Health Solutions, Inc.