McKesson, the largest U.S. wholesale distributor of drugs, decided it needed an EU strategy after competitor AmerisourceBergen made its own deal there last year. So it made an $8.3 billion bid for German wholesaler Celesio. But with its failure Monday to close the Celesio deal, the San Francisco-based company finds itself again figuring out how to establish a beachhead on the continent.
U.S.-based McKesson would just like to finalize its $8 billion-plus deal for German drug wholesaler Celesio so that it could try to catch up to competitor AmerisourceBergen in Europe. But Paul Singer, practiced in the art of taking advantage of takeovers, is not about to let that happen without getting something extra for his hedge fund, Elliott Management.
McKesson, AmerisourceBergen and Cardinal Health handle about 95% of the drug distribution market in the U.S. Now it looks like at least two of them will face off in Europe.
Layoffs may be standard fare for much of pharma, but the newly created Packaging Coordinators Inc (PCI) says it has hired 160 folks in 18 months at facilities in Rockford, IL.
Pharma contracting giant AmerisourceBergen is ditching its commercial packaging business, selling the unit to Frazier Healthcare for $308 million in cash.
Frazier Healthcare, the Seattle-based investment firm, sees opportunity in drug packaging. For the second time in 11 months, it has put together a deal to buy a pharmaceutical packaging operation, this time picking up the largest contract operator in the U.S.
The logistics of getting drugs delivered in underdeveloped countries can be tricky. Many companies turn to partners with the expertise that can help them navigate the import laws and distribution obstacles that those countries present.
Walgreen last year decided to take on a more international frame of mind when it bought a 45% chunk of the Swiss drugstore chain Alliance Boots. Now the two have partnered with one of the largest supply-chain players to smooth out distribution and hopefully cut some costs.
The end of the drugmaking supply chain was not quite as healthy last quarter for AmerisourceBergen, one of the world's largest drug distributors.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Alison Bryant (email | Twitter) and we will feature it...