Deregulation driving Medco's European expansion

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Deregulation driving Medco’s European expansion
Focuses on prescription review and IT processes to improve outcomes                                                                                ex, based in canada.                                                         collaboration agreement with sweden’s gov-
                                                                                                                                                         “The best way to approach the europe-                                  ernment-operated retail drug store chain, apo-
               By Shankar P.                                           prescription-drug spending, according to a                                  an pharmacy market is through very mature,                                   teket, to develop the first automated electronic
pHarmacy BeneFITs manaGer Medco                                        medco statement.                                                            experienced companies like medco.”                                           prescription-review system to improve clinical
Health Solutions, of Franklin Lakes, is                                    Driscoll said medco will provide IT sys-                                      Generex sells its products across Germa-                               outcomes for patients.
aggressively expanding in europe, where                                tems, clinical modeling and expertise in dis-                               ny and the Benelex countries through an over-                                      medco’s deal with apoteket will also help
the pharmacy business is in the process of                                                                                                         the-counter distributor based in Germany.                                    the swedish health care system save costs with
being deregulated.                                                                                                                                       In a major deal in april, medco also invest-                           improved efficiencies, Driscoll said.
      medco already has struck three major                               “Many of the health care issues                                           ed $120 million for an unspecified majority                                        The country lacked a program to track
acquisition and collaboration deals in the                                                                                                         stake in europa apotheek Venlo, a privately                                  patient drug histories to check for side effects,
                                                                         abroad are different than those
united Kingdom, Germany and sweden over                                                                                                            held firm that offers clinical health care and                               which make up 30 percent of emergency care
the past six months, and John Driscoll, presi-                              faced in the U.S.; however,                                            mail-order pharmacy services in the Dutch                                    visits and 10 percent of hospital admissions,
dent of the company’s new markets division,                                the quest for patient safety,                                           and German markets.                                                          he said.
said he continues to look for more opportuni-                             clinical excellence, dispensing                                                Germany is europe’s fastest-growing mar-                                     another major u.s. company active in
ties in those and other markets.                                                                                                                   ket for pharmacy health care services, with $35                              this space in europe is Cardinal Health, of
                                                                             accuracy and lower cost
      In august, medco entered a joint venture                                                                                                     billion in annual spending, of which the over-                               Dublin, ohio, a distributor of pharmaceuticals
with United Drug PlC, a Dublin, Ireland-                                        remains the same.”                                                 the-counter market accounts for $6 billion,                                  and medical supplies. Its network covers the
based h
				
DOCUMENT INFO
Description: Medco said more and more consumers prefer the convenience, safety and cost savings of mail-order pharmacy services - a market that, in Germany, is growing at a compounded annual rate of 50 percent By 2012, Germany's mail-order pharmacy services market is expected to be worth $3.7 billion out of a total pharmaceutical market size of $46 billion, a company presentation said. Earlier, in March, Medco announced a collaboration agreement with Sweden's government-operated retail drug store chain, Apoteket, to develop the first automated electronic prescription-review system to improve clinical outcomes for patients.
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