Cencora, Inc. reports news around its role as a global pharmaceutical solutions organization that distributes branded, generic and specialty pharmaceuticals to pharmacies, hospital networks and healthcare providers. Company updates also cover commercialization services for pharmaceutical and medical-device manufacturers, specialty drug logistics through World Courier, animal health distribution through MWI Animal Health and international wholesale activity following the Alliance Healthcare acquisition.
Recurring developments include fiscal operating results, gross profit drivers, LIFO effects, GLP-1 product mix and performance in U.S. Healthcare Solutions. News also covers completed acquisitions such as OneOncology and Retina Consultants of America, senior note financing, shareholder and governance matters, and executive leadership transitions.
AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have settled opioid-related claims with the Cherokee Nation for approximately $75 million over 6.5 years. This agreement resolves ongoing litigation and allows the companies to focus on safe medication delivery. The settlement is part of broader negotiations with federally recognized Native American tribes, despite the companies disputing the allegations against them. The firms emphasize their commitment to addressing the opioid epidemic's impact on communities.
AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) announced progress on the opioid claims settlement involving U.S. states and territories. As of August 21, 2021, 42 states, 5 territories, and Washington, D.C. have joined the settlement, allowing the process to move forward. This next phase includes a 120-day period for political subdivisions to join, ending January 2, 2022. If enough subdivisions participate, the settlement will take effect 60 days after that. The companies aim to focus on secure medication delivery while providing relief to affected communities.
AmerisourceBergen Corporation (NYSE: ABC) announced its virtual participation in two upcoming investor conferences. The conferences include the Morgan Stanley 19th Annual Global Healthcare Conference, scheduled for September 9-10 and September 13-15, 2021, and the Baird 2021 Global Healthcare Conference on September 14-15, 2021. Investors can find updates and potential webcast information on the investor relations website.
AmerisourceBergen Corporation (NYSE: ABC) reported a 17.7% year-over-year increase in revenue for Q3 fiscal 2021, reaching $53.4 billion. Diluted earnings per share (EPS) were $1.40, slightly down from $1.41 in the previous year. However, adjusted diluted EPS rose 16.8% to $2.16, reflecting strong performance. The company also updated its financial outlook for fiscal year 2021, indicating potential growth.
AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) announced a proposed settlement addressing the majority of opioid lawsuits from state and local entities. The settlement, contingent on participation from states and political subdivisions, could provide up to $21 billion over 18 years. Contributions include $6.4 billion from each AmerisourceBergen and Cardinal Health, and $7.9 billion from McKesson. The settlement is seen as a step towards resolving opioid claims, with strong legal defenses maintained in pending litigation if not finalized.
AmerisourceBergen, Cardinal Health, and McKesson have agreed to pay up to $1.179 billion to settle opioid-related claims with New York and its subdivisions, including Nassau and Suffolk Counties. This settlement is part of ongoing negotiations for a broader resolution concerning claims from various states. The distributors will receive claims dismissal in exchange for the settlement amount and associated legal fees. While disputing the allegations, the companies view this as a step toward focusing resources on safe medication delivery and supporting affected communities.
AmerisourceBergen Corporation (NYSE: ABC) will release its Third Quarter Fiscal 2021 results on August 4, 2021, prior to NYSE trading. A conference call at 8:30 a.m. ET will feature Steven H. Collis, CEO, and James F. Cleary, CFO, discussing these results. Investors can access the call via dial-in or through a live webcast on the company's website. Replays will be available shortly after the call and for a limited time. AmerisourceBergen is a leading healthcare company ranked 8th on the Fortune 500, generating over $200 billion in annual revenue.
AmerisourceBergen Corporation (NYSE: ABC) will participate in two upcoming virtual investor conferences. The first is the Goldman Sachs 42nd Annual Global Healthcare Conference from June 8-11, 2021, followed by the Baird Healthcare ESG Symposium on June 17, 2021. Interested investors can check the company's website for updates on live webcasts and replay information. AmerisourceBergen is a leading global healthcare company, ranked #8 on the Fortune 500, with over $200 billion in annual revenue and a commitment to improving health globally.
AmerisourceBergen Corporation (NYSE: ABC) has finalized the acquisition of Walgreens Boots Alliance's Alliance Healthcare businesses for $6.275 billion in cash, plus 2 million shares of common stock. This acquisition enhances AmerisourceBergen's pharmaceutical distribution capabilities and global manufacturer services. The company has updated its fiscal 2021 guidance, projecting revenues of at least $210 billion and adjusted earnings per share (EPS) between $8.90 and $9.10. The acquisition is expected to drive growth and synergies, marking a significant strategic move for AmerisourceBergen.
AmerisourceBergen Corporation (NYSE: ABC) reported a revenue increase of 3.7% year-over-year, reaching $49.2 billion for Q2 FY2021. Diluted EPS dropped to $2.10 compared to $4.64 in Q2 FY2020. However, adjusted diluted EPS rose by 5.4% to $2.53. The company updated its adjusted EPS guidance for FY2021, raising it to a range of $8.45 to $8.60, reflecting a growth of 7% to 9%.