Medco Health to buy United BioSource for $730 million

Medco Health Solutions Inc, the largest pharmacy services provider in the US, will buy United BioSource Corp (UBC), a post-approval drug and device research company, for $730 million in cash.

New Jersey-based Medco provides pharmacy services to private and public employers, health plans, labor unions, government agencies, and individuals served by prescription drug medicare plans. The company had reported a turnover of over $59.8 billion in 2009.

Medco ranks 35th on the Fortune 500 list and is named among the world's most innovative, most admired and most trustworthy companies.

Bethesda, Maryland-based UBC is a privately held global scientific and medical affairs company that partners with life science companies to develop and commercialise biopharmaceuticals, medical devices, and other health care products.

UBC is an information services business involved in safety and risk management, as well as health economics and outcomes research, and has carried out large prospective safety studies, risk evaluation and mitigation studies (REMS), cost-benefit and cost-effectiveness evaluations, budget-impact modeling, and epidemiologic studies among the broad suite of services that it brings to its clients.

UBC conducts post-approval research in strategic locations worldwide, including the US, Europe, and Japan.