Walgreens, Prime launch combined pharmacy services company

DEERFIELD - Walgreens and pharmacy benefit manager Prime Therapeutics LLC have launched its combined central specialty pharmacy and mail services company, first announced last August.

The company, AllianceRx Walgreens Prime, is headquartered in Orlando, Fla. Joel Wright, formerly divisional vice president for Walgreens specialty solutions, will lead the company as its CEO after holding numerous leadership roles within Walgreens over the past 25 years.

AllianceRx Walgreens Prime will manage several consolidated mail service and central specialty pharmacy operations. Its workforce of approximately 3,000 employees nationally will be comprised of current Walgreens and Prime employees, including those currently working at the existing Prime location in Orlando.

The AllianceRx Walgreens Prime brand will be rolled out in the marketplace over the coming months.

While Prime's pharmacies will now be part of the combined company, Prime will continue its core function of providing pharmacy benefit management services from its locations in Minnesota, Nebraska, New Mexico and Texas. Similarly, Walgreens will continue to operate its more than 230 specialty pharmacies throughout the U.S., in addition to its retail pharmacies.

Central specialty pharmacy and mail service customers of Walgreens and Prime will continue to benefit from features such as omnichannel tools and resources to help improve medication adherence, 24/7 pharmacy support and pickup of specialty medicines at Walgreens retail locations.

" We have built a powerful team of leaders at our joint company with the experience to deliver efficiencies and enhanced care coordination through our combined pharmacies. I look forward to this joint company delivering better health outcomes and deeper savings for our health plans and members for years to come and to governing the new company together with Walgreens." said Prime President and CEO Jim DuCharme.

AllianceRx Walgreens Prime will be consolidated by Walgreens Boots Alliance, Inc., the parent company of Walgreens, in its financial statements. Full integration is expected to be complete by early calendar year 2018.