Key Developments: AmerisourceBergen Corp (ABC)
54.99USD
17 May 2013
$0.59 (+1.08%)
$54.40
$54.44
$55.07
$54.18
2,180,967
2,595,629
$56.91
$35.94
Latest Key Developments (Source: Significant Developments)
AmerisourceBergen Corp Reaffirms FY 2013 EPS Gudiance-Conference Call
AmerisourceBergen Corp announced that it reaffirms adjusted diluted earnings per share (EPS) from continuing operations to be in the range of $3.04 to $3.14. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.07 for fiscal 2013. Full Article
AmerisourceBergen Corp Completes Divestiture Of Andersonbrecon
AmerisourceBergen Corp announced that it has completed the previously announced divestiture of its contract packaging business, AndersonBrecon, to an entity formed by affiliates of an investor group led by Frazier Healthcare VI, L.P. for the purpose of acquiring AndersonBrecon. The purchase price for the transaction was $308 million in cash, subject to customary adjustments for, among other things, the working capital of the business. The investor group includes affiliates of Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners. Full Article
AmerisourceBergen Corp Approves Quarterly Dividend
AmerisourceBergen Corp announced that it has declared a cash dividend of $0.21 per share on Common Stock, payable June 3, 2013, to stockholders of record at the close of business on May 20, 2013. Full Article
AmerisourceBergen Corp Sees FY 2013 EPS Guidance In Lower Half Of Prior Range; Updates FY 2013 Revenue Guidance
AmerisourceBergen Corp announced that it expects adjusted diluted earnings per share from continuing operations in fiscal 2013 to be in the lower half of the range of $3.04 to $3.14, excluding certain expenses related to the Company's new strategic long-term relationship with Walgreens and Alliance Boots, including the warrants issued, and the expected LIFO charge from onboarding of additional branded inventory. The Company now expect revenue growth in the 11% to 13% range and operating income decline in the 3% to 5% range. Full Article
AmerisourceBergen Corp Announces Sale Of AndersonBrecon
AmerisourceBergen Corp announced that it has signed a definitive agreement to sell its contract packaging business, AndersonBrecon, to an entity formed by affiliates of an investor group led by Frazier Healthcare VI, L.P. for the purpose of acquiring AndersonBrecon. The purchase price for the transaction is $308 million in cash, subject to customary adjustments for, among other things, the working capital of the business. The investor group includes affiliates of Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners. The transaction is subject to customary closing conditions, including receipt of certain regulatory reviews, and is expected to close in the third quarter of fiscal 2013, which ends June 30, 2013. Full Article
AmerisourceBergen Corp Divests Canadian Pharmaceutical Distribution Business
AmerisourceBergen Corp announced that it has signed a definitive agreement to sell its Canadian pharmaceutical distribution business, AmerisourceBergen Canada Corporation (ABCC), to Kohl & Frisch Limited, a Canadian-owned national full-line distributor. The transaction is expected to close in the third quarter of fiscal 2013, and is subject to customary closing conditions, including certain regulatory approvals. AmerisourceBergen will retain its Canadian specialty business. The estimated sale price is expected to be between $80 million and $100 million, of which approximately half will be financed by AmerisourceBergen. Full Article
AmerisourceBergen Corp Raises FY 2013 Revenue Guidance; Lowers FY 2013 EPS Guidance-Conference Call
AmerisourceBergen Corp announced that the new 10 year Walgreens distribution contract begins on September 1, giving one month of incremental brand revenues of at least $2 billion. As a result, the Company has increased fiscal 2013 expectations for revenue growth from 6% to 9% to 8% to 11% and in terms of earnings per share (EPS) for fiscal 2013, it anticipates that the one-month benefit of the income from the new relationship will be more than offset by certain one-time startup costs. Because of this the Company has revised GAAP guidance for EPS from continuing operations to a range of $2.96 to $3.06. The revised EPS guidance includes startup operational costs, primarily the advance hiring of new associates for distribution centers; a one-time volume rebate that agreed to pay Walgreens in September; and nonrecurring deal-related expenses. GAAP EPS range does not include an anticipated one-time LIFO expense in the second half of the fiscal year that could be significant. The Company reported revenue of $79.490 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $85.188 billion and EPS of $3.15 for fiscal 2013. Full Article
Walgreen Co And Alliance Boots GmbH Announces Strategic, Long-Term Relationship With AmerisourceBergen Corp
Walgreen Co and Alliance Boots GmbH announced that they have entered into a long-term partnership with AmerisourceBergen. This relationship will enable Walgreens, Alliance Boots and AmerisourceBergen to benefit from greater scale and global opportunities and work together on programs to improve service levels and efficiencies, while reducing costs and increasing patient access to pharmaceuticals. Together these three companies will help address global health care challenges by making it easier for manufacturers to bring products to market; increasing accessibility to the benefits of global sourcing and practices for community pharmacies; and providing patients with better access to health care. Branded and Generic Pharmaceutical Distribution Contract: Walgreens and AmerisourceBergen have agreed to expand their existing relationship beyond the specialty items currently distributed by AmerisourceBergen to a 10-year comprehensive primary distribution agreement for branded and generic pharmaceutical products. The agreement will result in the distribution by AmerisourceBergen of the branded pharmaceutical products that Walgreens has historically sourced from distributors and suppliers, effective September 1, 2013. Full Article
AmerisourceBergen Corp Reaffirms FY 2013 Guidance-Conference Call
AmerisourceBergen Corp announced that for fiscal 2013, it expects EPS in the range of $3.06 to $3.16 and revenue growth in the 6% to 9% range. The Company reported revenue of $79.490 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $85.187 billion and EPS of $3.15 for fiscal 2013. Full Article
Faruqi & Faruqi, LLP Launches An Investigation Against AmerisourceBergen Corp
Faruqi & Faruqi, LLP announced that it is investigating the Board of Directors of AmerisourceBergen Corporation for potential breaches of fiduciary duties in connection with the Company's proposed executive compensation. Full Article
Walgreen to buy stake in AmerisourceBergen, Cardinal loses out
- Walgreen Co and partner Alliance Boots said on Tuesday they signed a 10-year deal with AmerisourceBergen that will include daily drug distribution, enabling Walgreen to increase its sales of pricey specialty drugs.
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