- In 2012, $40 billion was spent on oncology drugs.
- Annual oncology drug spending is expected to rise to $175 billion by 2020, a four-fold increase.
- In 2013, there were over 1.5 million new cancer cases, a number that is expected to increase by approximately 50 percent by 2030.
- Oncology has a robust new drug pipeline of nearly 1,000 drugs, representing approximately 40 percent of total new drug development. 1
Onco360’s Chief Executive Officer Burt Zweigenhaft said, “We are pleased to have reached this agreement and to have PharMerica’s vote of confidence in our unique oncology care platform. This partnership will allow us to further expand our franchise on a national scale and provide more patients with the best oncology care possible. Working with PharMerica, we will build upon and further improve the outstanding service levels and capacity that our clients have come to expect from us.”PharMerica funded the strategic investment with cash on hand. About PharMerica PharMerica Corporation is a leading institutional pharmacy, specialty infusion and hospital pharmacy management services company servicing healthcare facilities in the United States. PharMerica operates pharmacies in 45 states. PharMerica’s customers are institutional healthcare providers, such as nursing centers, assisted living facilities, hospitals and other long-term care providers. In addition, the Company provides specialty infusion pharmaceuticals to patients in a home setting. The Company also provides pharmacy management services to long-term care hospitals. About Onco360 Onco360 is the largest independent provider of Oncology Pharmacy Services in the country. Onco360 serves the specialized needs of oncologists, patients, hospitals, cancer centers, manufacturers, and health plans. The company’s clinical and dispensing model was developed specifically to meet the unique needs of oncology-treating physicians and their patients. Onco360 is focused on bringing together stakeholders of the cancer treatment process, and as part of this effort the company is advancing the continuum of oncology pharmaceutical care through patient advocacy, dispensing excellence, and clinical expertise. Onco360 dispenses through its network JCAHO-accredited OncoMed Pharmacies. 1 Figures reflect internal PharMerica estimates.