Pharmacy benefits manager Medco Health Solutions Inc. said Friday it completed its $730 million acquisition of United BioSource Corp., a company that helps companies run studies of newly approved drugs and medical devices.
Medco said in August it would buy the Bethesda, Md., company. Medco handles drug benefits for health plan sponsors and members, aiming to save money for both groups. In recent years it has started supplementing those efforts with research comparing the effectiveness of different drugs.
United BioSource helps concoct strategies that can minimize the risks involved with new drugs and medical device. It also works on issues including clinical testing to demonstrate product safety and helps its clients do research on costs, safety, health insurance coverage, reimbursement, and medical publications and communications.
Medco shares rose 43 cents to $47.47 in midday trading.