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

Special Report: The Big 3 Distributors

Suggested Articles

Pfizer says two lots of migraine med Relpax failed to meet microbial standards and may be contaminated with genera pseudomonas and burkholderia.

Emcure has had its share of run-ins with the FDA in the past over the sterility of its plants. Now, it can notch one more black mark on its belt.

The FDA has slapped a warning letter on an Indian solvent recycler that may have contributed to the contamination of blood pressure meds.