AmerisourceBergen Acquires Drug Transport Firm (ABC, MCK, CAH)
AmerisourceBergen Corp. (NYSE: ABC), which provides transport, logistical, and support services to drug manufacturers, announced this morning that it was acquiring privately held drug transport firm World Courier Group Inc. for $520 million. World Courier is expected to add about…
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AmerisourceBergen Corp. (NYSE: ABC), which provides transport, logistical, and support services to drug manufacturers, announced this morning that it was acquiring privately held drug transport firm World Courier Group Inc. for $520 million. World Courier is expected to add about $500 million in sales to AmerisourceBergen’s 2013 total revenues, but the addition will be revenue neutral in 2012.
Competitors in the wholesale drug business include McKesson Corp. (NYSE: MCK) and Cardinal Health Inc. (NYSE: CAH).
World Courier specializes in transporting, storing, and distributing products for biopharmaceutical drug trials. The company fits nicely with AmerisourceBergen’s services business that focuses in getting specialty drugs into the hands of physicians, as well as helping drug companies launch and commercialize new drugs.
AmerisourceBergen’s share price is down about -0.75% at $36.28 in a 52-week range of $34.33-$43.47.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
