Express Scripts and Walgreens Boots Alliance Expand Group Purchasing Efforts to Include Specialty Brand Medications
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."