Inside This Issue - News
Wasson joins AmerisourceBergen board
June 2nd, 2014
VALLEY FORGE, Pa. – Greg Wasson, president and chief executive officer of Walgreen Co., has been elected to the board of directors at AmerisourceBergen Corp.
Wasson’s election on May 15 expanded the board at the pharmaceutical sourcing and distribution services company to 11 members, the company said.
“I am thrilled to have Greg join our board of directors,” said Steve Collis, AmerisourceBergen’s president and CEO. “With his innovative insights, long-standing commitment to community pharmacy and demonstrated partnership philosophy, I am certain that Greg will make valuable contributions to our board.”
Walgreens was entitled to designate a director to the AmerisourceBergen board as part of the strategic relationship established in 2013 by AmerisourceBergen, Walgreens and Alliance Boots GmbH, the pharmaceutical retailer and wholesaler partly owned by Walgreens.
The three-way partnership made AmerisourceBergen the primary supplier of branded drugs to Walgreens for a 10-year period. The agreement also allows AmerisourceBergen to incrementally increase its share of Walgreens’ supply of generic drugs.
Drug wholesalers have been forming ventures and collaborations with other health care companies to boost their bargaining power with pharmaceutical companies and expand internationally.
Walgreens gets the lion’s share of its revenue from filling prescriptions through its 8,600 pharmacies in all 50 states, the District of Columbia and Puerto Rico. The company bought into Alliance Boots, Europe’s biggest drug wholesaler, as the once-torrid growth in prescription drug sales was cooling, the driving factor in the recent consolidation drive in the pharmacy sector.
Wasson has served Walgreens in his current role since 2009. He joined the company as a pharmacy intern while attending Purdue University’s school of pharmacy. During his 33-year career at Walgreens, Wasson has served in a variety of roles, including president and chief operating officer from May 2007 to February 2009. Wasson also serves on the board at Alliance Boots.