Cardinal Health, Prime Therapeutics Renew Primary Distribution Agreement
DUBLIN, Ohio and ST. PAUL, Minn., June 15, 2011 /PRNewswire/ -- Cardinal Health today announced that it has signed a renewed, three-year agreement with Prime Therapeutics, one of the nation's leading pharmacy benefit managers, to continue to serve as its primary pharmaceutical supply chain partner for its mail-service pharmacy, PrimeMail®.
Prime Therapeutics managed more than $10.2 billion in prescription drug spend in 2010, and currently serves nearly 17 million members through Blue Cross and Blue Shield Plans, employer and union groups and third-party administrators.
"We look forward to continuing to deliver the kind of flexible and innovative pharmaceutical distribution services that help Prime Therapeutics to efficiently and effectively serve its patients' medication needs," said Jon Giacomin, president of Cardinal Health's U.S. Pharmaceutical Distribution business. "This renewed agreement is an excellent example of our commitment to building mutually beneficial customer relationships that enable us to grow our pharmaceutical distribution business while also improving the overall costs of healthcare."
Cardinal Health will also continue to offer Prime Therapeutics additional supply chain optimization services to help improve its operational efficiency.
"Our strong and flexible partnership with Cardinal Health has enabled us to leverage their operational excellence and economic value to cost-effectively purchase medications, while we also continue to engage and maximize our own direct generic purchasing," said Peter Wickersham, Prime Therapeutics Senior Vice President of Cost of Care. "Cardinal Health consistently delivers the experience and value-added services that we need to help us to continue delivering quality, cost-efficient prescription drug benefits to our customers."
About Prime Therapeutics
Prime Therapeutics is a pharmacy benefit management company dedicated to providing innovative, clinically-based, cost-effective pharmacy solutions for clients and members. Providing pharmacy benefit services nationwide to nearly 17 million covered lives, its client base includes Blue Cross and Blue Shield Plans, employer and union groups, and third-party administrators. Headquartered in St. Paul, Minnesota, Prime Therapeutics is collectively owned by 12 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those Plans. Learn more at www.primetherapeutics.com.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $99 billion health care services company that improves the cost-effectiveness of health care. As the business behind health care, Cardinal Health helps pharmacies, hospitals, ambulatory surgery centers and physician offices focus on patient care while reducing costs, enhancing efficiency and improving quality. Cardinal Health is an essential link in the health care supply chain, providing pharmaceuticals and medical products to more than 60,000 locations each day. The company is also a leading manufacturer of medical and surgical products, including gloves, surgical apparel and fluid management products. In addition, the company supports the growing diagnostic industry by supplying medical products to clinical laboratories and operating the nation's largest network of radiopharmacies that dispense products to aid in the early diagnosis and treatment of disease. Ranked #19 on the Fortune 500, Cardinal Health employs more than 30,000 people worldwide. More information about the company may be found at cardinalhealth.com and @CardinalHealth on Twitter.
SOURCE Cardinal Health
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