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Cencora, Inc. (NYSE: COR) is a premier global pharmaceutical solutions provider committed to enhancing healthcare delivery and improving lives worldwide.
As one of the top three pharmaceutical wholesalers in the United States, Cencora specializes in sourcing and distributing branded, generic, and specialty pharmaceutical products to a diverse range of clients, including retail chains, independent pharmacies, mail-order services, hospital networks, and healthcare providers. In collaboration with McKesson and Cardinal Health, Cencora dominates over 90% of the U.S. pharmaceutical wholesale market.
Beyond its robust domestic operations, Cencora has significantly expanded its international footprint. Notably, the acquisition of Alliance Healthcare in 2021 bolstered its presence in Europe, making it one of the leading drug wholesalers in the region.
Additionally, Cencora offers comprehensive commercialization services for pharmaceutical and medical device manufacturers. Its global specialty drug logistics division, World Courier, is renowned for its precision and reliability. The company also extends its expertise to animal health product distribution through MWI Animal Health.
Cencora's strategic partnerships and innovative solutions drive operational efficiency, cost control, and growth opportunities across the healthcare supply chain.
- Its pharmacy solutions enhance operational efficiency, cost control, growth opportunities, and patient safety.
- Provider solutions focus on improving operational efficiency, financial performance, and quality of care.
- Manufacturer solutions are designed to maximize success at every stage of the product lifecycle.
Recent achievements include a distribution agreement with Sapphiros, enhancing access to COVID-19 Antigen Rapid Tests and future diagnostic technologies in the U.S. market. This partnership is poised to bring innovative diagnostic solutions directly to patients, exemplifying Cencora's commitment to improving accessibility and convenience in healthcare.
Cencora’s mission is driven by a strong sense of purpose: 'We are united in our responsibility to create healthier futures.' Ranked #11 on the Fortune 500 and #24 on the Global Fortune 500, with annual revenues exceeding $250 billion, Cencora’s over 46,000 team members worldwide are dedicated to delivering positive health outcomes through their expertise and collaborative efforts.
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.
Cencora (NYSE: COR) has announced a significant share repurchase agreement with Walgreens Boots Alliance Holdings, totaling approximately $400 million. This transaction is part of a broader strategy, with Cencora completing around $550 million in share repurchases in May 2024 alone. Additionally, Cencora has raised its fiscal year 2024 adjusted diluted earnings per share (EPS) guidance to a range of $13.35 to $13.55, up from the previous $13.30 to $13.50. The improved EPS forecast is attributed to a reduced share count, although it is partially offset by increased net interest expenses due to lower investment balances following the repurchases. Cencora, a global pharmaceutical solutions leader, is recognized on the Fortune 500 and Global Fortune 500 lists, with annual revenues exceeding $250 billion.
Walgreens Boots Alliance (WBA) has sold approximately $400 million worth of Cencora (COR) shares through a stock repurchase agreement, decreasing its ownership from 13% to 12%.
The proceeds will be used mainly for debt reduction and general corporate purposes, supporting WBA's strategy to enhance its health services rooted in retail pharmacy.
The sale does not affect the ongoing collaboration or long-term strategic partnership between the companies. Ornella Barra, COO International of WBA, will continue to serve on Cencora's Board of Directors.
Cencora, Inc. (NYSE: COR) reported a revenue of $68.4 billion for the second quarter, marking a 7.8% increase year-over-year. The GAAP diluted EPS stood at $2.09, with adjusted diluted EPS at $3.80. The company raised its adjusted diluted EPS guidance range to $13.30 to $13.50 for fiscal 2024.
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