August 14, 2016 |
Big companies headquartered here? Many people might think the list begins and ends with Comcast Corp., which is now busy broadcasting the Olympics. But in the Philadelphia region, the gold-medal winner, at least by revenue, is a quiet operator in the world of drug distribution. Chief executive Steven Collis, 55, leads AmerisourceBergen Corp. The company, with 18,000 employees worldwide and about 1,000 in the region, ranks 12th on the Fortune 500 list, with $136 billion in annual revenue, compared with Comcast, ranked 37th with $74.5 billion.
August 5, 2016 |
Teva Pharmaceutical Industries Ltd. said Wednesday that it is buying Allergan's generic pharmaceuticals distribution business, Anda Inc., for $500 million. The announcement came a day after Teva on Tuesdaycompleted its acquisition of Allergan's generic division for $33.4 billion in cash and $5.4 billion in Teva stock. Anda, a large distributor of generic pharmaceuticals in the United States, delivers generic, brand, specialty, and over-the-counter pharmaceutical products from more than 300 manufacturers to retail pharmacies, nursing homes, mail order pharmacies, hospitals, clinics, and physician offices.
October 31, 2015 |
Drug wholesaler AmerisourceBergen, Pennslyvania's largest company by revenue, said its full-year sales increased from $119.57 billion in 2014 to $135.96 billion in its fiscal year that ended Sept. 30. AmerisourceBergen, whose top executives work in Conshohocken and Chesterbrook, said it had a full-year loss of $134.89 million after posting a profit of $284.03 million in 2014. AmerisourceBergen recorded an expense of $912.72 million in 2015, compared to $422.74 million in 2014, on managing stock warrants issued to Walgreens Boots Alliance, resulting in the loss.
August 9, 2015 |
Under chief executive Steve Collis, AmerisourceBergen has tried to broaden its business beyond that of an anonymous but huge pharmaceutical wholesaler. That manifested itself in a $250,000 donation to build a pharmacy that opens Saturday at Project HOME's Stephen Klein Wellness Center in North Philadelphia. Project HOME's mission is to break the cycle of poverty afflicting many people in the city, and affordable health care is one element of that. "Our new pharmacy, made possible through the AmerisourceBergen Foundation, is key in our effort to provide quality health care and wellness for the second-poorest zip code in Philadelphia," Sister Mary Scullion, executive director of Project HOME, said in a statement.
October 4, 2014 |
The tax code is usually better than any pharmaceutical product or a glass of milk for inducing sleep. Tax inversions, however, are still a point of contention where business meets public policy. Thursday brought more debate. Legendary investor and Berkshire Hathaway chief executive Warren Buffett began the day answering questions in New York about his patriotism because of the perception that such foreign acquisitions hurt Americans for the sake of corporate profits. Heather Bresch, CEO of Pittsburgh-based generic drugmaker Mylan, walked into a Philadelphia gathering and tersely declined to talk about them, preferring cancer as a topic.
August 28, 2014 |
The drug wholesaler AmerisourceBergen Corp., which is - and will remain - headquartered in Chesterbrook, said Tuesday that it would add at least 185 employees during the next three years in Conshohocken. No. 28 on the Fortune 500 list of America's biggest companies, AmerisourceBergen's revenue increased 38.5 percent to $30.3 billion in the quarter ending June 30 compared with the same period a year earlier, primarily because of a 2013 deal to supply Walgreen drugstores and British-based Alliance Boots.
March 26, 2014 |
Pharmaceuticals wholesaler AmerisourceBergen resumed its expansion into foreign markets Monday, saying it will invest about $100 million for a minority stake in a leading distributor in Brazil, Profarma Distribuidora de Produtos Farmacêuticos S.A. AmerisourceBergen, headquartered in Valley Forge, is the second largest distributor of prescription medicine in the United States, as measured by revenue. Brazil is the world's fifth most populous country, with about 200 million people, so there is opportunity, but also immense challenges.
August 5, 2013 |
AmerisourceBergen is a quiet giant among companies with headquarters in the Philadelphia region. Based in Chesterbrook, AmerisourceBergen is the second biggest of the nation's three large pharmaceutical wholesalers. The company generates about $80 billion a year in revenue, its stock closed Friday at $58.48, near its all-time high, and it is beginning a complicated decadelong deal to supply drugs to Walgreens. As a middle link in the pharmaceutical supply chain, AmerisourceBergen connects to many sectors of the health-care economy: brand-name and generic-drug companies, manufacturers, pharmacies, hospitals, and doctors.
April 26, 2013 |
Chesterbrook-based wholesale drug supplier AmerisourceBergen said Thursday its quarterly revenue increased from $19.7 billion in 2012 to $20.5 billion in the same period in 2013, a rise of 4.1 percent. Net income fell from $212.1 million to $45.63 million during the period ending March 31, which is the company's second quarter. The company said expenses were higher in the calculations because of the inclusion of its World Courier service, which coordinates transport of products used in clinical trials.
April 7, 2013 |
PRINCETON - Merck & Co.'s chief executive officer, Ken Frazier, says the drugmaker's facility in West Point, Montgomery County, is in no danger of being closed now. Merck is among the many pharmaceutical companies that have announced in recent months plans to close or consolidate facilities in hopes of squeezing more efficiency out of their operations. Some of those decisions involved laying off employees. Is West Point safe? "Yes," Frazier said Thursday evening after speaking about Merck's worldwide vaccine programs at Princeton University's Woodrow Wilson School of Public and International Affairs.