Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  AmerisourceBergen Corp.    ABC

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

AmerisourceBergen Corp. : AmerisourceBergen to Acquire World Courier Group, Inc.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/06/2012 | 01:05pm CET

AmerisourceBergen Corporation (NYSE: ABC) today announced that it has signed a definitive agreement to purchase World Courier Group, Inc., a privately held leading global specialty transportation and logistics provider for the biopharmaceutical industry, for $520 million in cash. The purchase price is subject to a customary working capital adjustment. The acquisition is expected to be neutral to the Company's fiscal year 2012 earnings, and $0.06 to $0.10 accretive in fiscal 2013. The transaction is subject to certain regulatory reviews and other customary closing conditions, and is expected to close in the third quarter of fiscal 2012, which ends June 30, 2012.

World Courier, the premier global specialty provider of transportation, storage and distribution services for multinational biopharmaceutical clinical trials in addition to other end markets, will become a new operating segment within AmerisourceBergen. "The acquisition of World Courier adds a new premium specialty service to our existing portfolio of market leading pharmaceutical manufacturer services," said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer. "The addition of World Courier's unique capabilities and expertise to our existing commercialization services further strengthens our offerings to global pharmaceutical manufacturers, and provides an established platform for the introduction of our specialty services outside North America."

World Courier's President, Wayne B. Heyland, will continue on in this position, reporting directly to Collis. "We are very pleased to bring our global expertise and decades of experience serving international biopharmaceutical manufacturers and contract research organizations (CROs) to AmerisourceBergen," said Heyland. "Our shared values and similar cultures will ensure the smooth integration of our premium services, which will help both of our organizations take advantage of the tremendous growth opportunities that lie ahead, particularly in international markets. We are very excited to become an integral part of the largest specialty distribution and services provider in the world."

World Courier's customized solutions and customer-centric service model complements and meaningfully expands AmerisourceBergen's existing manufacturer services and commercialization support services. World Courier's biopharmaceutical clinical trials logistics, investigational drug storage and distribution, and other specialty logistics businesses utilize a company-owned, fully integrated GxP-compliant global network and dedicated, locally based associates to help drive exceptional reliability and customer service in both well-established and emerging markets. World Courier's annual revenues are expected to be approximately $500 million in calendar year 2012. It has over 137 offices, 13 GMP-compliant storage depots, and 2,500 employees in 52 countries.

About AmerisourceBergen

AmerisourceBergen is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. AmerisourceBergen's service solutions range from pharmacy automation and pharmaceutical packaging to reimbursement and pharmaceutical consulting services. With more than $80 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs approximately 11,000 people. AmerisourceBergen is ranked #27 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.

About World Courier

Founded in 1969 by James R. Berger and headquartered in Stamford, Connecticut, World Courier is the largest and most experienced specialty logistics company with a network of 137 wholly-owned ISO 9001-certified offices in 52 countries. It also operates an extensive integrated company-owned network of GMP-compliant investigational drug storage facilities in 13 developing and strategic locations. With a fully GxP-compliant transport and supply chain system in place network-wide, World Courier meets the most demanding industry and regulatory requirements for managing the time- and temperature-sensitive consignments of regulated and other industries. For more information, go to www.worldcourier.com.

Forward-Looking Statements

Certain of the statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and change in circumstances. Among the factors that could cause actual results to differ materially from those projected, anticipated or implied are the following: changes in pharmaceutical market growth rates; the loss of one or more key customer or supplier relationships; changes in customer mix; customer delinquencies, defaults or insolvencies; supplier defaults or insolvencies; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; adverse resolution of any contract or other dispute with customers or suppliers; federal and state government enforcement initiatives to detect and prevent suspicious orders of controlled substances and the diversion of controlled substances; qui tam litigation for alleged violations of fraud and abuse laws and regulations and/or any other laws and regulations governing the marketing, sale and purchase of pharmaceutical products or services and any related litigation, including shareholder derivative lawsuits; changes in federal and state legislation or regulatory action affecting pharmaceutical product pricing or reimbursement policies, including under Medicaid and Medicare; changes in regulatory or clinical medical guidelines and/or labeling for the pharmaceutical products we distribute, including certain anemia products; price inflation in branded pharmaceuticals and price deflation in generics; greater or less than anticipated benefit from launches of the generic versions of previously patented pharmaceutical products; significant breakdown or interruption of our information technology systems; our inability to continue to implement an enterprise resource planning (ERP) system to handle business and financial processes and transactions (including processes and transactions relating to our customers and suppliers) of AmerisourceBergen Drug Corporation operations and our corporate functions as intended without functional problems, unanticipated delays and/or cost overruns; success of integration, restructuring or systems initiatives; interest rate and foreign currency exchange rate fluctuations; economic, business, competitive and/or regulatory developments in Canada, the United Kingdom and elsewhere outside of the United States, including changes and/or potential changes in Canadian provincial legislation affecting pharmaceutical product pricing or service fees or regulatory action by provincial authorities in Canada to lower pharmaceutical product pricing and service fees; the impact of divestitures or the acquisition of businesses that do not perform as we expect or that are difficult for us to integrate or control; our inability to successfully complete any other transaction that we may wish to pursue from time to time; changes in tax laws or legislative initiatives that could adversely affect our tax positions and/or our tax liabilities or adverse resolution of challenges to our tax positions; increased costs of maintaining, or reductions in our ability to maintain, adequate liquidity and financing sources; volatility and deterioration of the capital and credit markets; and other economic, business, competitive, legal, tax, regulatory and/or operational factors affecting our business generally. Certain additional factors that management believes could cause actual outcomes and results to differ materially from those described in forward-looking statements are set forth (i) in Item 1A (Risk Factors) in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2011 and elsewhere in that report and (ii) in other reports filed by the Company pursuant to the Securities Exchange Act of 1934.

AmerisourceBergen Corporation
Barbara Brungess, 610-727-7199
bbrungess@amerisourcebergen.com


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERISOURCEBERGEN CORP.
11/22 AMERISOURCEBERGEN CORP : Entry into a Material Definitive Agreement, Creation of..
11/22 AMERISOURCEBERGEN : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION ..
11/17 AMERISOURCEBERGEN CORP. : ex-dividend day
11/11 AMERISOURCEBERGEN CORP. : Post Earnings Coverage as AmerisourceBergen Q4 Bottoml..
11/10 AMERISOURCEBERGEN : Increases Dividend 7 Percent
11/09 AMERISOURCEBERGEN CORPORATION : (ABC) is Trading Higher on Unusual Volume for No..
11/09 AMERISOURCEBERGEN CORPORATION : (ABC) Pops 9.53% for November 09
11/08 AMERISOURCEBERGEN CORPORATION : (ABC) is Trading Lower on Unusual Volume for Nov..
11/04 AMERISOURCEBERGEN : Pineno Levin Ford Asset Management buys $4,613,817 stake in ..
11/04 Drugmakers under fire for possible U.S. price fixing
More news
Sector news : Drug Retailers - NEC
11/16DJTarget Draws Back Shoppers
11/16DJWALGREENS BOOTS ALLIANCE : Claims Theranos Voided 11.3% of Test Reports
11/10 Trump victory clouds outlook for Time Warner-AT&T, other mergers
11/09 Trump stand on AT&T/Time Warner not indicative of M&A policy - analysts
11/09DJWALGREENS BOOTS ALLIANCE : Walgreen Sues Theranos, Seeking to Recover $140 Milli..
More sector news : Drug Retailers - NEC
News from SeekingAlpha
11/27 THE GOOD BUSINESS PORTFOLIO : 2016 Third-Quarter Earnings And Performance Review
11/22 Tracking David Einhorn's Portfolio - Q3 2016 Update
11/21 AmerisourceBergen and McKesson in price battle says Evercore's Muken
11/14 Einhorn a buyer of U.S. Steel and GEO Group; Fox, Humana among those sold
11/13 9 DIVIDEND INCREASES : November 7-11, 2016
Advertisement
Financials ($)
Sales 2017 158 321 M
EBIT 2017 2 038 M
Net income 2017 1 165 M
Debt 2017 489 M
Yield 2017 1,73%
P/E ratio 2017 15,63
P/E ratio 2018 13,65
EV / Sales 2017 0,11x
EV / Sales 2018 0,10x
Capitalization 17 344 M
More Financials
Chart AMERISOURCEBERGEN CORP.
Duration : Period :
AmerisourceBergen Corp. Technical Analysis Chart | ABC | US03073E1055 | 4-Traders
Full-screen chart
Technical analysis trends AMERISOURCEBERGEN...
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 85,2 $
Spread / Average Target 8,1%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Steven H. Collis Chairman, President & Chief Executive Officer
Tim G. Guttman Chief Financial Officer & Executive Vice President
Dale B. Danilewitz Chief Information Officer & Executive VP
Henry Wadsworth McGee Independent Director
Jane Ellen Henney Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AMERISOURCEBERGEN CORP..-24.02%17 344
WALGREENS BOOTS ALLIAN..-0.50%92 198
CVS HEALTH CORP-21.36%82 777
EXPRESS SCRIPTS HOLDIN..-13.44%46 654
MCKESSON CORPORATION-27.09%32 457
CARDINAL HEALTH INC-20.45%22 670
More Results