Cencora Inc. - COR STOCK NEWS

Cencora (NYSE: COR) announced two key appointments to its enterprise leadership team. Francois Mandeville joins as Executive Vice President, Strategy and M&A, bringing extensive experience from Johnson Controls and Danaher , where he helped grow business from $2.2B to $15B. Pawan Verma becomes Executive Vice President, Chief Data and Information Officer, joining from MetLife where he led a 10,000-person organization as Global CIO. These appointments aim to advance Cencora's pharmaceutical-centric strategy, enhance digital transformation, and drive growth through M&A and technological innovation.

Cencora, Inc. (NYSE: COR) has announced the date for its Fourth Quarter Fiscal 2024 Earnings Release. The company will release its results on Wednesday, November 6, 2024, before the New York Stock Exchange opens. A conference call to discuss the results is scheduled for 8:30 a.m. ET on the same day.

The call will feature Robert P. Mauch, President & CEO, and James F. Cleary, Executive VP & CFO. Investors can access the live webcast via investor.cencora.com. For telephone access, US and Canada participants should dial (833) 470-1428, while international callers should use +1 (404) 975-4839, with access code 272044.

Replays will be available via webcast and telephone. Cencora, ranked #10 on the Fortune 500, is a global pharmaceutical solutions organization with over $250 billion in annual revenue.

Frazier Healthcare Partners, a private equity firm focused on healthcare, has announced that Willis Chandler has joined their Growth Buyout team as an Executive in Residence. Chandler will help develop and execute investment strategies in pharma and pharmacy services, focusing on sourcing, diligence, and leadership of a new platform investment.

Chandler brings extensive experience, having most recently served as President of Global Pharma Services at Cencora (NYSE: COR), where he led a multi-billion dollar business unit with 10,000 employees. His background includes leadership roles at CVS Health and co-founding Shields Specialty Pharmacy. Chandler's expertise in entrepreneurial leadership, commercial transformation, and acquisition integration is expected to be valuable in Frazier's efforts to invest in disruptive growth-oriented healthcare companies.

Cencora, Inc. (NYSE: COR) has announced the election of Frank Clyburn to its Board of Directors, effective October 1, 2024. This addition will increase the board to thirteen members. Mr. Clyburn, a seasoned executive with extensive experience in the pharmaceutical industry, most recently served as CEO and board member of International Flavors and Fragrances Inc. His background includes leadership roles at major pharmaceutical manufacturers, notably as Executive Vice President and President of Human Health at Merck. Cencora's leadership, including Lead Independent Director Mark Durcan and Chairman, President & CEO Steven H. Collis, expressed confidence that Mr. Clyburn's expertise will contribute to the company's long-term growth and pharmaceutical-centric strategy.

Cencora (NYSE: COR) has announced a $250 million share repurchase from Walgreens Boots Alliance Holdings This buyback coincides with Walgreens Boots Alliance's sale of Cencora shares under Rule 144. The repurchase will be executed at the same price as the Rule 144 sale, with shares held in treasury. This move is part of Cencora's existing share repurchase program.

Cencora, ranked #10 on the Fortune 500 and #24 on the Global Fortune 500, is a leading global pharmaceutical solutions organization with over $250 billion in annual revenue. The company partners with pharmaceutical innovators to optimize market access and provides secure delivery of healthcare products to care providers. Cencora employs 46,000+ team members worldwide, focusing on improving health outcomes for people and animals globally.

Walgreens Boots Alliance (WBA) has announced the sale of its remaining unencumbered shares of Cencora, Inc. (COR) for approximately $1.1 billion. The transaction includes an $818 million sale pursuant to Rule 144 and a $250 million concurrent share repurchase by Cencora. This move reduces WBA's ownership of Cencora from about 12% to 10%. The proceeds will be primarily used for debt paydown and general corporate purposes, aligning with WBA's strategy to develop a more capital-efficient health services model based on its retail pharmacy network. Importantly, the sale does not affect the long-term strategic partnership between WBA and Cencora, which has been in place since 2013. Ornella Barra, WBA's Chief Operating Officer, International, will continue to serve on Cencora's Board of Directors.

Cencora (NYSE: COR) reported strong fiscal 2024 third quarter results, with revenue increasing 10.9% year-over-year to $74.2 billion. GAAP diluted EPS rose to $2.42 from $2.35 in the prior year's quarter, while adjusted diluted EPS grew 14.4% to $3.34. The company has raised its adjusted diluted EPS guidance range for fiscal 2024 to $13.55 to $13.65, reflecting confidence in its performance. These results demonstrate Cencora's robust growth and financial strength in the healthcare distribution sector, positioning the company for continued success in the coming quarters.

Cencora (NYSE: COR) will release its Third Quarter Fiscal 2024 results on Wednesday, July 31, 2024, before the NYSE opens. A conference call to discuss these results is scheduled for 8:30 a.m. ET the same day, featuring top executives Steven H. Collis, James F. Cleary, and Robert P. Mauch. The call will be webcast live on the company's investor relations website and accessible via telephone. Replays will be available both online and by phone, with details provided for access. Cencora is a leading global pharmaceutical solutions organization, ranked #10 on the Fortune 500, with over $250 billion in annual revenue and a workforce of over 46,000 employees globally.

Kehoe Law Firm is investigating potential claims for individuals affected by a data breach at Cencora (NYSE: COR). On February 21, 2024, Cencora discovered data exfiltration from its systems, including personal and medical information. By May 24, 2024, TechCrunch reported that Cencora had notified around 500,000 individuals, with the total number expected to be much higher, as Cencora serves over 18 million patients. Compromised data includes patient names, addresses, dates of birth, health diagnoses, and medications.