AmerisourceBergen buys another pharmaceutical services company

Drug wholesaler AmerisourceBergen ($ABC) is extending its acquisition binge, this time with the $520 million cash acquisition of World Courier Group.

The Stamford, CT-based World Courier is a logistics and transport company that already serves the biopharmaceutical industry. It has more than 135 offices, a dozen storage depots and 2,500 employees around the world. The company projects $500 million in revenues this year. World Courier President Wayne B. Heyland will continue to run the company.

"World Courier adds a new premium specialty service to our existing portfolio of market leading pharmaceutical manufacturer services," AmerisourceBergen CEO Steven H. Collis said in a statement.  

The acquisition, which is expected to close in the third quarter ending June 30, is projected to have no effect on earnings in 2012 and add from 6 cents to 10 cents a share to AmerisourceBergen's bottom line in 2013.

AmerisourceBergen last year made a number of acquisitions that expanded its services, including the $250 million acquisition of patient access and reimbursement services company TheraCom from CVS Caremark. It also acquired oncology data analysis specialist IntrinsiQ, and consultancy Premier Source.

- read the release

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