API, United Drugs agree to merge

6/10/2009

PHOENIX Two cooperatives for independent pharmacies have agreed to merge.

Scottsboro, Ala.-based Associated Pharmacies Inc., which describes itself as a member-owned cooperative that allows independent pharmacy owners to buy wholesale products the way chains do, will merge with United Drugs, based in Phoenix, which provides contracting and buying services.

“We have a ringing endorsement by both corporate boards and both memberships, providing just one indication that we’re making the right move in creating a truly independent force in retail pharmacy,” API CEO Jon Copeland said. “Because we both have very successful operations … nothing at all changes for our respective members, except they will all have a broader range of opportunities.”

The deal is expected to close on July 1, when both companies will become wholly owned subsidiaries of Minnesota-based American Associated Pharmacies.

X
This ad will auto-close in 10 seconds