McKesson, HCA Healthcare to form JV to increase access to cancer research, clinical trials

McKesson Corp. and HCA Healthcare Inc. announced Thursday an agreement to form a joint venture to advance cancer care and boost access to oncology research. As part of the agreement, McKesson’s U.S. Oncology Research (USOR) and HCA’s Sarah Cannon Research Institute (SCRI) will combine to form a oncology research organization aimed at accelerating drug development and increasing availability and access to clinical trials. After the JV is formed, which is expected to occur in 2022, McKesson will own 51% of the JV. “We believe this joint venture with McKesson, which unifies our oncology research experts, will promote the development of individualized therapies and provide more opportunities for cancer patients to receive new treatments,” said HCA Chief Executive Sam Hazen. McKesson’s stock was little changed in premarket trading while HCA shares gained 2.5%. Futures for the S&P 500 tacked on 0.4%.

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