McKesson, Wal-Mart Sign Deal To Jointly Source Generic Pharmaceuticals

(RTTNews) - Drug distributor McKesson Corp. (MCK) and Wal-Mart Stores, Inc. (WMT) said they have signed a sourcing agreement for generic pharmaceuticals and an expanded long-term distribution agreement.

The two companies will collaborate on jointly sourcing generic pharmaceuticals for their respective U.S. operations, adding scale and value for both companies.

The companies noted that the deal will lower the cost of pharmaceutical care. It will leverage McKesson's strength and expertise in the global pharmaceutical industry, and Walmart's commitment to delivering leading health and wellness services at an everyday low price to its customers.