Omnicare has inked a deal to by specialty drug supplier RxCrossroads for $235 million. The buyout is seen as a strategic fit for Omnicare, which supplies drugs to seniors in elderly care facilities. Omnicare says that once the acquisition is complete, they'll be able to offer a full range of services to pharmaceutical and biotech companies throughout the country. RxCrossroads distributes high-cost biotech drugs for the chronically ill. The company reported $46 million in revenue. Omnicare, which has been trying to buy NeighborCare, reported more than $4 billion in revenue last year.
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