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March 24, 2014
08:32 EDTABCAmerisourceBergen acquires minority interest in Profarma Distribuidora
AmerisourceBergen announced that it has reached a definitive agreement to acquire a minority stake in Profarma Distribuidora de Produtos Farmaceuticos. In addition, AmerisourceBergen and Profarma will establish a joint venture for specialty distribution and services. The company expects to invest a total of approximately $100M, and the transaction is expected to close in the June quarter of FY14. AmerisourceBergen does not expect the transaction to have a meaningful impact to its adjusted earnings per share from continuing operations for FY14. AmerisourceBergen will purchase up to a 19.9% minority stake by offering R$22.50 per share for shares offered in a primary offering by Profarma. The specialty distribution joint venture will include Profarma’s existing specialty businesses and an equity investment from AmerisourceBergen, and each company will own a 50% stake in the joint venture.
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December 11, 2014
08:32 EDTABCAmerisourceBergen price target raised to $104 from $83 at Argus
Argus increased its price target on AmerisourceBergen after the company reported stronger than expected Q4 results. The firm is confident in the company's ability to improve its profitability while sustaining its organic top-line growth in fiscal 2015. Argus keeps a Buy rating on the shares.
December 8, 2014
11:30 EDTABCLeerink generics pharmaceutical analyst holds analyst/industry conference call
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