Zeneca: Vertical Integration Without Distribution
Zeneca made two important cancer deals in December 94--one with biotech Sugen; the other a 50% acquisition of cancer care facilities operator Salick Health Care. While the first deal isn't out of the ordinary for a drug company, the Salick transaction, relative to the PBM deals from other drug companies, represents a way of leapfrogging links in the value chain from drug company to customer, going directly to the cancer patient by its purchase of an actual service provider.
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