- Acquisition Advances Role as a Key Pillar of Pharmaceutical Innovation and Access
- Adjusted Diluted EPS Guidance Range Raised to $8.90 to $9.10 for Fiscal 2021
AmerisourceBergen Corporation (NYSE: ABC) today announced the completion of its acquisition of the majority of Walgreens Boots Alliance’s Alliance Healthcare businesses for $6.275 billion in cash, subject to a customary working capital and net debt adjustment, and 2 million shares of AmerisourceBergen common stock.
“We are excited to complete the acquisition and extend a warm welcome to the talented team at Alliance Healthcare,” said Steven H. Collis, Chairman, President, and Chief Executive Officer of AmerisourceBergen. “The acquisition of Alliance Healthcare expands our reach and solutions in pharmaceutical distribution and adds to AmerisourceBergen’s breadth and depth of global manufacturer services. With Alliance Healthcare, we will advance our ability to provide innovative and global healthcare solutions and further our purpose of being united in our responsibility to create healthier futures.”
“This transaction provides great benefit for both companies and is a logical step following the continued success of our long-term strategic relationship,” said Ornella Barra, Chief Operating Officer, International, Walgreens Boots Alliance, Inc. “The Alliance Healthcare teams are joining a global pharmaceutical distribution leader and trusted partner in AmerisourceBergen, and we look forward to continuing to work together as strategic partners.”
AmerisourceBergen and Walgreens Boots Alliance will also execute on the expansion and extension of commercial agreements in order to drive incremental growth and synergies.
Fiscal Year 2021 Expectations
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
The Company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined is not available or cannot be reasonably estimated.
Fiscal Year 2021 Expectations on an Adjusted (non-GAAP) Basis
AmerisourceBergen has updated its fiscal year 2021 financial guidance to reflect the expected contribution from the closing of the Alliance Healthcare acquisition and the weighted average share count impact of the 2 million shares of AmerisourceBergen common stock that the Company delivered at the closing of the transaction. The Company now expects:
- Revenue of at least $210 billion, up from revenue growth in the high-single-digit percent range; and
- Adjusted diluted earnings per share (EPS) to be in the range of $8.90 to $9.10, raised from the previous range of $8.45 to $8.60.
Additional expectations now include:
- Weighted average shares of at least 208 million, raised from the previous expectation of between 207 million and 208 million for the fiscal year.
The Company continues to have strong performance across its businesses and expects to update the rest of its previously announced fiscal 2021 financial guidance when it reports results for the third quarter of fiscal 2021. Alliance Healthcare’s results will be reported in Other for the remainder of the fiscal year 2021.
Please refer to the Supplemental Information Regarding Non-GAAP Financial Measures below.
Source: Biospace