Kroger announces merger with specialty pharmacy Axium Pharmacy
CINCINNATI — Kroger on Thursday announced it will acquire the outstanding shares of Axium Pharmacy Holdings, a leading specialty pharmacy, and merge the two companies.
The partnership gives Kroger significantly enhanced capabilities to serve customers who require complex drug therapies, and to deliver those therapies at a greater value to customers and insurance payers, the grocer stated. Financial terms were not disclosed.
"Kroger and Axium are a strategic fit as we look to enter the high-growth specialty pharmacy business," stated Lincoln Lutz, Kroger VP corporate pharmacy. "The combination of Axium’s expertise and Kroger’s 1,950 pharmacy locations, 91 Little Clinic locations and pharmacists who provide health coaching, biometric screening and other wellness services will deliver positive health outcomes for our patients, cost savings for insurance payers and unique services for physicians."
"We are excited to partner with Kroger to deliver specialty pharmacy services to their customers," added Mark Montgomery, Axium’s president and CEO. "We believe this relationship will create efficiencies that will reduce costs, drive growth and improve the overall quality of our combined healthcare services."
Founded in 2000, Axium provides drug therapies and patient-support services to treat chronic, genetic and other complex medical conditions, such as cancer, hepatitis C, rheumatoid arthritis, multiple sclerosis and numerous other chronic care conditions.
In a press release announcing the merger, Kroger noted that specialty pharmacy is the primary area of growth in pharmaceuticals. Revenue for specialty drugs has grown from $17 billion in 2000 to $104 billion in 2011, and is projected to grow to $135 billion in 2014. In 2011, 80% of new drugs approved by the FDA were specialty drugs. Currently, more than 700 specialty drugs are in the pipeline for approval.
The transaction is contingent on typical conditions of closing, including any required approval by regulatory authorities. Edge Healthcare Partners served as Axium’s financial adviser for the pending merger.
NCR Corp., SoloHealth sign three-year health kiosk maintenance contract
DULUTH, Ga. — NCR Corp. is partnering with health kiosk maker SoloHealth to service interactive consumer healthcare kiosks at retailers as SoloHealth rolls them out around the country, the two companies said Tuesday.
NCR’s services group has signed a three-year contract with SoloHealth to provide on-site repairs after the units are installed in what the companies expect to be more than 2,500 retail locations by the middle of 2013.
The stations, which provide screenings for vision, blood pressure, weight, symptoms checking, body mass index and overall health, will be installed in mass merchandise, drug and grocery stores, including Walmart and Sam’s Club.
"With health care such a vital and hot topic, NCR is very excited to be working with SoloHealth to make an easy-to-use health monitoring and assessment solution available to thousands of Americans and keep these thousands of innovative devices up and running for retailers looking to drive store traffic and build shopper loyalty," NCR VP retail sales Bill Barton said.
CSPN, Dara BioSciences enter distribution contract for breast cancer drug
DREXEL HILL, Pa. — The Community Specialty Pharmacy Network has entered a contract with Dara BioSciences to distribute a nonsteroidal anti-estrogen product.
CSPN announced the agreement with Dara to distribute Soltamox (tamoxifen) solution for oral administration. The drug, a treatment for breast cancer, is for patients who have difficulty swallowing pills.
"Compliance and adherence to prescribed tamoxifen therapy is a critical issue in patient care and may affect treatment outcomes," Dara BioSciences VP sales, marketing and business development David Benharris said. "Soltamox provides a unique treatment option for those patients with swallowing difficulties or who simply prefer an oral liquid over tablet or pills."