McKesson Corp. has agreed to acquire Precision Medicine Group for approximately $2.25 billion, expanding its clinical research and biopharmaceutical commercialization capabilities.
The transaction is subject to customary closing conditions, including regulatory clearances. Once completed, Precision Medicine Group will report within McKesson’s Oncology & Multispecialty segment.
Precision Medicine Group provides clinical research and commercialization services to biotechnology and pharmaceutical companies. Its offerings include biomarker intelligence, laboratory services, a global clinical research organization, market-access consulting and commercialization support.
McKesson said the acquisition will strengthen its ability to support life sciences companies throughout the drug-development and commercialization process, from research programs through market access and launch activities.
Brian Tyler, McKesson’s chairman and chief executive officer, said the deal advances the company’s oncology and multispecialty strategy. He said Precision Medicine Group’s capabilities would enhance McKesson’s clinical research and commercialization services, improve clinical-trial execution and broaden its clinical service offerings.
Precision Medicine Group supports companies developing and commercializing medicines by providing integrated services and technology-enabled products. McKesson said the company’s capabilities complement its existing work with biopharma companies, care providers, pharmacies, manufacturers and other healthcare stakeholders.
Margaret Keegan, Precision Medicine Group’s chief executive officer, said joining McKesson would extend the reach of the company’s clinical and commercial expertise. She said the combined organization would offer biopharma customers a broader set of services across development and commercialization.
The acquisition reflects McKesson’s continued expansion of its oncology and specialty-care operations. The company said the transaction is intended to help improve patient access to care while providing biopharma companies with more comprehensive support in bringing therapies to market.
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