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Fly News Breaks for March 3, 2015
CAH, PMC, MWIV, ABC
Mar 3, 2015 | 07:24 EDT
After PharMerica (PMC) switched its pharmaceutical distribution contract from AmerisourceBergen (ABC )to Cardinal Health (CAH), RBC Capital believes that AmerisourceBergen has the necessary operational levers to mitigate and possibly offset the financial impact of the contract loss. The firm says the company can compensate for the lost revenue through new contracts, cost savings on generic procurement, and better than expected results from MWI Veterinary Supply which it acquired. RBC raised its price target on AmerisourceBergen to $110 from $106 and keeps an Outperform rating on the shares.
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