FRANKLIN LAKES, N.J. Pharmacy benefit manager Medco Health Solutions will acquire medical affairs company United BioSource Corp. for $730 million, Medco said Monday.
UBC provides research on drugs and medical devices after they have won regulatory approval to life science companies in order to aid their development. Medco said the acquisition of UBC would extend its capabilities in data analytics.
“To meet the three main objectives of national healthcare reform –– improving quality and reducing costs in order to extend access –– it is more critical than ever to ensure tha tour use of medicines is driven by scientific evidence and proven economic value,” Medco chairman and CEO David Snow said in a statement. “The acquisition of UBC represents Medco’s ongoing commitment to provide innovation and value in health care, extending our global footprint into the areas of health information technology, information services and research.”