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Walgreens mulls asset divestments, sale of AmerisourceBergen stake: Reuters
Posted on Wednesday, 06 November 2019 11:36
Shares in AmerisourceBergen fell by as much as 4.2 per cent yesterday as a report from Reuters suggested Walgreens Boots is weighing options that include selling its 27.0 per cent stake in the US drug distributor. The Pennsylvanian medication wholesaler’s stocks closed down 1.6 per cent at USD 86.13 and a market capitalisation of USD 17.94 billion, to value the 56.86 million scrips held by the Illinois-based drugstore chain at USD 4.90 billion. No further information regarding the disposal was disclosed as Reuters reported the news as part of a wider potential asset divestment programme by Walgreens aimed at raising funds. Deliberations also include a potential private equity-backed takeover of the international pharmacy operator that Zephyr, the M&A database published by Bureau van Dijk, shows would be the largest leveraged buyout on record. Chesterbrook-headquartered AmerisourceBergen claims to be one of the largest global pharmaceutical sourcing and distribution services companies. The group offers branded and generic drugs, over-the-counter healthcare products, home healthcare supplies and equipment and outsourced compounded sterile preparations. It distributes to a wide variety of providers in the US and select global markets, including acute care hospitals, independent and chain retail pharmacies, medical and dialysis clinics and veterinarians, among other customers. Additionally, AmerisourceBergen provides related services that range from data analytics, outcomes research and reimbursement to pharmaceutical consulting, inventory management and pharmacy automation. In the nine months ended 30th June 2019, the company generated net profit of USD 721.83 million on revenue of USD 133.95 billion, compared to USD 1.42 billion on USD 124.64 billion in Q1-3 2018. Early last year, it was reported Walgreens had sounded out the possibility of fully acquiring AmerisourceBergen, and while the two initially discussed a tie-up, in the end the early-stage talks came to nothing. © Zephus Ltd