Leading American prescription management company Medco Health Solutions Inc. has forced a joint venture with a German partner to drastically expand its global footprint in the chronic care market, the companies announced Monday.
Medco has signed an agreement with German provider Celesio AG to form a 50-50 joint venture that will offer specialty medicine for chronically ill patients. The new company will use a mail-order system for prescription drugs and is slated to begin operations in Germany in 2010, followed by expansion into Italy, Spain, France, and the U.K. in 2011. The overall expansion could include as many as 27 EU nations.
The joint venture may also be able to cut medication costs for its subscribers.
“Although this will not eliminate every financial issue facing the European health care systems, these efficiencies represent a significant part of the overall solution,” said Medco Chairman David B. Snow Jr. in a statement.
The aging population in continental Europe, which includes a significant fraction of chronically ill patients who require regular prescription fulfillments, is a key opportunity for the pharmaceutical players.
Medco has signed an agreement with German provider Celesio AG to form a 50-50 joint venture that will offer specialty medicine for chronically ill patients. The new company will use a mail-order system for prescription drugs and is slated to begin operations in Germany in 2010, followed by expansion into Italy, Spain, France, and the U.K. in 2011. The overall expansion could include as many as 27 EU nations.
The joint venture may also be able to cut medication costs for its subscribers.
“Although this will not eliminate every financial issue facing the European health care systems, these efficiencies represent a significant part of the overall solution,” said Medco Chairman David B. Snow Jr. in a statement.
The aging population in continental Europe, which includes a significant fraction of chronically ill patients who require regular prescription fulfillments, is a key opportunity for the pharmaceutical players.
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