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Cencora, Inc. - COR STOCK NEWS

Welcome to our dedicated page for Cencora news (Ticker: COR), a resource for investors and traders seeking the latest updates and insights on Cencora stock.

Cencora, Inc. (NYSE: COR) is a premier global pharmaceutical solutions provider committed to enhancing healthcare delivery and improving lives worldwide.

As one of the top three pharmaceutical wholesalers in the United States, Cencora specializes in sourcing and distributing branded, generic, and specialty pharmaceutical products to a diverse range of clients, including retail chains, independent pharmacies, mail-order services, hospital networks, and healthcare providers. In collaboration with McKesson and Cardinal Health, Cencora dominates over 90% of the U.S. pharmaceutical wholesale market.

Beyond its robust domestic operations, Cencora has significantly expanded its international footprint. Notably, the acquisition of Alliance Healthcare in 2021 bolstered its presence in Europe, making it one of the leading drug wholesalers in the region.

Additionally, Cencora offers comprehensive commercialization services for pharmaceutical and medical device manufacturers. Its global specialty drug logistics division, World Courier, is renowned for its precision and reliability. The company also extends its expertise to animal health product distribution through MWI Animal Health.

Cencora's strategic partnerships and innovative solutions drive operational efficiency, cost control, and growth opportunities across the healthcare supply chain.

  • Its pharmacy solutions enhance operational efficiency, cost control, growth opportunities, and patient safety.
  • Provider solutions focus on improving operational efficiency, financial performance, and quality of care.
  • Manufacturer solutions are designed to maximize success at every stage of the product lifecycle.


Recent achievements include a distribution agreement with Sapphiros, enhancing access to COVID-19 Antigen Rapid Tests and future diagnostic technologies in the U.S. market. This partnership is poised to bring innovative diagnostic solutions directly to patients, exemplifying Cencora's commitment to improving accessibility and convenience in healthcare.

Cencora’s mission is driven by a strong sense of purpose: 'We are united in our responsibility to create healthier futures.' Ranked #11 on the Fortune 500 and #24 on the Global Fortune 500, with annual revenues exceeding $250 billion, Cencora’s over 46,000 team members worldwide are dedicated to delivering positive health outcomes through their expertise and collaborative efforts.

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Cencora (NYSE: COR) reported Q4 fiscal 2024 revenue of $79.1 billion, up 14.7% year-over-year, with full-year revenue reaching $294.0 billion, a 12.1% increase. Q4 GAAP diluted EPS was $0.02, while adjusted diluted EPS grew 16.8% to $3.34. For fiscal 2024, GAAP diluted EPS decreased 11.7% to $7.53, while adjusted diluted EPS increased 14.8% to $13.76.

The company increased its quarterly dividend by 8% to $0.55 per share and announced the acquisition of Retina Consultants of America. U.S. Healthcare Solutions revenue grew 15.7% to $71.7 billion, while International Healthcare Solutions revenue increased 5.5% to $7.4 billion in Q4.

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Cencora (NYSE: COR) has announced a definitive agreement to acquire Retina Consultants of America (RCA) from Webster Equity Partners for $4.6 billion in cash. RCA is a leading management services organization of retina specialists, with nearly 300 specialists across 23 states conducting over 2 million patient visits annually. Cencora will hold approximately 85% ownership, while RCA's affiliated practices, physicians, and management will retain a minority interest. The acquisition is expected to be $0.35 accretive to Cencora's adjusted diluted EPS in its first twelve months and includes potential contingent payments up to $500 million in fiscal years 2027 and 2028.

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Cencora (NYSE: COR) announced two key appointments to its enterprise leadership team. Francois Mandeville joins as Executive Vice President, Strategy and M&A, bringing extensive experience from Johnson Controls and Danaher , where he helped grow business from $2.2B to $15B. Pawan Verma becomes Executive Vice President, Chief Data and Information Officer, joining from MetLife where he led a 10,000-person organization as Global CIO. These appointments aim to advance Cencora's pharmaceutical-centric strategy, enhance digital transformation, and drive growth through M&A and technological innovation.

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Cencora, Inc. (NYSE: COR) has announced the date for its Fourth Quarter Fiscal 2024 Earnings Release. The company will release its results on Wednesday, November 6, 2024, before the New York Stock Exchange opens. A conference call to discuss the results is scheduled for 8:30 a.m. ET on the same day.

The call will feature Robert P. Mauch, President & CEO, and James F. Cleary, Executive VP & CFO. Investors can access the live webcast via investor.cencora.com. For telephone access, US and Canada participants should dial (833) 470-1428, while international callers should use +1 (404) 975-4839, with access code 272044.

Replays will be available via webcast and telephone. Cencora, ranked #10 on the Fortune 500, is a global pharmaceutical solutions organization with over $250 billion in annual revenue.

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Frazier Healthcare Partners, a private equity firm focused on healthcare, has announced that Willis Chandler has joined their Growth Buyout team as an Executive in Residence. Chandler will help develop and execute investment strategies in pharma and pharmacy services, focusing on sourcing, diligence, and leadership of a new platform investment.

Chandler brings extensive experience, having most recently served as President of Global Pharma Services at Cencora (NYSE: COR), where he led a multi-billion dollar business unit with 10,000 employees. His background includes leadership roles at CVS Health and co-founding Shields Specialty Pharmacy. Chandler's expertise in entrepreneurial leadership, commercial transformation, and acquisition integration is expected to be valuable in Frazier's efforts to invest in disruptive growth-oriented healthcare companies.

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Cencora, Inc. (NYSE: COR) has announced the election of Frank Clyburn to its Board of Directors, effective October 1, 2024. This addition will increase the board to thirteen members. Mr. Clyburn, a seasoned executive with extensive experience in the pharmaceutical industry, most recently served as CEO and board member of International Flavors and Fragrances Inc. His background includes leadership roles at major pharmaceutical manufacturers, notably as Executive Vice President and President of Human Health at Merck. Cencora's leadership, including Lead Independent Director Mark Durcan and Chairman, President & CEO Steven H. Collis, expressed confidence that Mr. Clyburn's expertise will contribute to the company's long-term growth and pharmaceutical-centric strategy.

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Cencora (NYSE: COR) has announced a $250 million share repurchase from Walgreens Boots Alliance Holdings This buyback coincides with Walgreens Boots Alliance's sale of Cencora shares under Rule 144. The repurchase will be executed at the same price as the Rule 144 sale, with shares held in treasury. This move is part of Cencora's existing share repurchase program.

Cencora, ranked #10 on the Fortune 500 and #24 on the Global Fortune 500, is a leading global pharmaceutical solutions organization with over $250 billion in annual revenue. The company partners with pharmaceutical innovators to optimize market access and provides secure delivery of healthcare products to care providers. Cencora employs 46,000+ team members worldwide, focusing on improving health outcomes for people and animals globally.

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Walgreens Boots Alliance (WBA) has announced the sale of its remaining unencumbered shares of Cencora, Inc. (COR) for approximately $1.1 billion. The transaction includes an $818 million sale pursuant to Rule 144 and a $250 million concurrent share repurchase by Cencora. This move reduces WBA's ownership of Cencora from about 12% to 10%. The proceeds will be primarily used for debt paydown and general corporate purposes, aligning with WBA's strategy to develop a more capital-efficient health services model based on its retail pharmacy network. Importantly, the sale does not affect the long-term strategic partnership between WBA and Cencora, which has been in place since 2013. Ornella Barra, WBA's Chief Operating Officer, International, will continue to serve on Cencora's Board of Directors.

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Cencora (NYSE: COR) reported strong fiscal 2024 third quarter results, with revenue increasing 10.9% year-over-year to $74.2 billion. GAAP diluted EPS rose to $2.42 from $2.35 in the prior year's quarter, while adjusted diluted EPS grew 14.4% to $3.34. The company has raised its adjusted diluted EPS guidance range for fiscal 2024 to $13.55 to $13.65, reflecting confidence in its performance. These results demonstrate Cencora's robust growth and financial strength in the healthcare distribution sector, positioning the company for continued success in the coming quarters.

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Cencora (NYSE: COR) will release its Third Quarter Fiscal 2024 results on Wednesday, July 31, 2024, before the NYSE opens. A conference call to discuss these results is scheduled for 8:30 a.m. ET the same day, featuring top executives Steven H. Collis, James F. Cleary, and Robert P. Mauch. The call will be webcast live on the company's investor relations website and accessible via telephone. Replays will be available both online and by phone, with details provided for access. Cencora is a leading global pharmaceutical solutions organization, ranked #10 on the Fortune 500, with over $250 billion in annual revenue and a workforce of over 46,000 employees globally.

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FAQ

What is the current stock price of Cencora (COR)?

The current stock price of Cencora (COR) is $248.385 as of November 8, 2024.

What is the market cap of Cencora (COR)?

The market cap of Cencora (COR) is approximately 49.0B.

What does Cencora, Inc. do?

Cencora, Inc. is a leading global pharmaceutical solutions provider, specializing in the sourcing and distribution of branded, generic, and specialty pharmaceuticals.

Who are Cencora's main clients?

Cencora serves retail chains, independent pharmacies, mail-order services, hospital networks, and healthcare providers.

What are some recent achievements of Cencora?

Cencora recently entered into a distribution agreement with Sapphiros to enhance access to COVID-19 Antigen Rapid Tests and future diagnostic technologies in the U.S.

How significant is Cencora in the U.S. pharmaceutical wholesale market?

Cencora, along with McKesson and Cardinal Health, constitutes over 90% of the U.S. pharmaceutical wholesale industry.

What international presence does Cencora have?

Cencora expanded its international presence by acquiring Alliance Healthcare in 2021, becoming a leading drug wholesaler in Europe.

What other services does Cencora provide?

Cencora offers commercialization services for pharmaceutical and medical device manufacturers, global specialty drug logistics, and animal health product distribution.

What is Cencora’s mission?

Cencora's mission is 'We are united in our responsibility to create healthier futures.'

How is Cencora ranked on the Fortune 500?

Cencora is ranked #11 on the Fortune 500 and #24 on the Global Fortune 500.

What is the scale of Cencora's operations?

Cencora has over 46,000 employees worldwide and generates more than $250 billion in annual revenue.

What are some key solutions provided by Cencora?

Cencora provides pharmacy solutions for operational efficiency and patient safety, provider solutions for quality care, and manufacturer solutions for product lifecycle success.

Cencora, Inc.

NYSE:COR

COR Rankings

COR Stock Data

48.95B
197.05M
10.45%
90.27%
4.91%
Medical Distribution
Wholesale-drugs, Proprietaries & Druggists' Sundries
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