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.
April 4, 2013 |
Drug wholesaler AmerisourceBergen said Tuesday that it reached a deal to sell its AndersonBrecon contract packaging subsidiary for $308 million to a group created to make the purchase and led by Frazier Healthcare. AmerisourceBergen, whose headquarters is in Chesterbrook, had said in November that it planned to divest this business. "This transaction will help ensure that AndersonBrecon will continue to thrive in the years ahead, and allows AmerisourceBergen to focus on its distribution, specialty and manufacturer services businesses," Steven H. Collis, AmerisourceBergen chief executive officer, said in a statement.
March 21, 2013 |
AmerisourceBergen Corp. is in and Cardinal Health Inc. is out as the wholesale supplier of medicines for Walgreens pharmacies. The Chesterbrook-based company has signed a 10-year agreement with the nation's biggest drug-store operator that is expected to provide about $400 billion in revenue during the next decade. Landing Walgreens is a major coup for AmerisourceBergen, a middleman between companies that make drugs and those that dispense them (pharmacies, hospitals, and nursing homes)
February 1, 2013
Drug wholesaler AmerisourceBergen, Inc. , filed a notice with the New Jersey Department of Labor indicating it plans to layoff 72 employees on April 5 at the company's facility in Thorofare, Gloucester County. AmerisourceBergen, based in Valley Forge, is one of the three largest drug wholesalers in the country, with nearly $80 billion in annual revenue. A company spokeswoman declined comment. As of Sept. 30, according to a filing with the Securities and Exchange Commission, AmerisourceBergen had 26 distribution centers in the U.S. for its main drug business, including leased facilities in 11 states, New Jersey among them.
January 25, 2013
Valley Forge-based pharmaceutical wholesaler AmerisourceBergen Corp. said Thursday that its net income increased four percent in its first quarter, which ended Dec. 31, compared to the same period in 2011. Net income rose from $162.1 million to $168.6 million in 2012. AmerisourceBergen also said quarterly revenue rose 5.7 percent from the same period in 2011. The company is one of the three biggest drug wholesalers in the nation and the biggest Pennsylvania company as measured by revenue.