Omnicare, Inc. and Walgreen Co. to Exchange Home Infusion and Pharmacy Businesses

Omnicare, Inc. OCR and Walgreen Co. WAG WAG today announced a transaction in which Omnicare will acquire substantially all of the assets of Walgreens long-term care pharmacy business. In exchange, Walgreens will acquire substantially all of the assets of Omnicare’s home infusion business. Closing of the transaction, which is subject to regulatory approvals and other conditions, is expected to occur before Nov. 15, 2010. Financial terms were not disclosed.