Two major healthcare companies made significant M&A news this week.
Walgreens announced Tuesday that it has entered into a definitive agreement to buy the remaining 30% stake in Shield Health Solutions for $1.37 billion.
Walgreens initially invested in the specialty pharmacy in September 2021 and the deal is expected to close by the end of 2022. According to a company press release, Shields serves more than 1 million patients across nearly 80 health system partners.
Shields generated pro forma sales growth of 57% during the first nine months of 2022 and is slated to be a key driver of Walgreens’ capabilities in the specialty pharmacy and primary care space.
“Our full acquisition of Shields will complete another major milestone as part of our consumer-centric healthcare strategy to drive sustainable long-term growth, and we are very pleased with our partnership and integration with Shields,” Walgreens CEO Roz Brewer said in a statement.
As part of the deal, Shields will operate as a “distinct business and brand” within Walgreens. John Lucey will take over as CEO of Shields while current CEO Lee Cooper will take on a new executive role within Walgreens.
Gilead’s acquisition of MiroBio folds in the company’s portfolio of immune inhibitory receptor agonists, highlighted by its lead investigational antibody, MB272.
“Inflammation is a key area of focus for Gilead, and MiroBio’s novel discovery platform technology and pipeline provides the opportunity to develop potentially best-in-class large molecule therapeutics to help patients with currently unmet medical needs,” Flavius Martin, EVP of research at Gilead, said in a statement.