By Angela Chen
AmerisourceBergen Corp. said Wednesday that its revenue rose 15%
in the December quarter, buoyed by strong demand for its specialty
products and gains from its collaboration with Walgreen Boots
Alliance Inc.
Results beat expectations, sending shares up about 3% in
premarket trading.
The company also raised its earnings outlook for the year ending
in September to $4.45 to $4.55 a share, up from its previous range
of $4.36 to $4.50 a share.
Drug wholesalers like AmerisourceBergen have been forming
ventures and collaborations with other health-care related
companies to increase their bargaining power with pharmaceutical
companies. In 2013, AmerisourceBergen began an alliance with U.S.
drugstore-chain operator Walgreen and European drug giant Alliance
Boots GmbH, which have since merged.
Earlier this month, the company agreed to buy MWI Veterinary
Supply Inc. for $2.5 billion, expanding into the growing area of
animal health.
In its fiscal first quarter, pharmaceutical distribution revenue
grew 15% to $33 billion, primarily due to the new Walgreen
generic-pharmaceutical business, strong sales of hepatitis C
products, and organic sales growth in its health systems and
alternate-site customers. Within the segment, the specialty group
saw revenue grow 26% due to good performance in the blood products
category and increases in sales to community oncology
practices.
Nonpharmaceutical revenue also grew 15%, mostly due to demand
for the company's consulting business.
Overall, AmerisourceBergen reported a loss of $200 million, or
91 cents a share, compared with a profit of $41.3 million, or 17
cents a share, a year earlier.
Excluding special items including those related to the MWI
transaction, earnings rose to $1.14 a share from 80 cents the year
before.
Revenue grew to $33.6 billion.
Analysts polled by Thomson Reuters had expected per-share
earnings of 97 cents and revenue of $31.6 billion.
Shares of AmerisourceBergen have risen 42% in the past 12 months
as of Tuesday's close.
Write to Angela Chen at angela.chen@dowjones.com
Access Investor Kit for AmerisourceBergen Corp.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US03073E1055
Access Investor Kit for MWI Veterinary Supply, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US55402X1054
Subscribe to WSJ: http://online.wsj.com?mod=djnwires