Pharmacy benefit management firm Medco Health Solutions will acquire United BioSource Corp., which offers research services and technologies during and after clinical trials, for $730 million.
The deal, expected to close during the third quarter, extends Franklin Lakes N.J.-based Medco's data analytics and research capabilities. The company provides drug benefits to 65 million members covered under a variety of insurance programs.
Bethesda, Md.-based United BioSource offers a variety of services to support clinical trials. Technologies include trial design, electronic data capture software, computerized cognitive testing, patient screening systems, and systems to organize drug supplies for patients in clinical trials, particularly trials that are multi-national.
The company then captures data and analyzes the efficacy, safety and cost effectiveness of drugs and medical devices in the real world after they receive Food and Drug Administration approval. Clinical trials have very strict criteria as they capture data in a test environment, explains a United BioSource spokesperson. But it is equally important to know how drugs and devices hold up in effectiveness and safety once they are in the commercial market.
Among its technologies, United BioSource uses interactive voice response telephone systems and Web sites to enable patients to report their experiences with approved products, and registries to record adverse events and monitor the safety and risk levels of patients.
United BioSource has more than 1,500 employees and anticipates 2010 revenue of about $280 million, with an annual growth rate of more than 20 percent, according to the company.
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