ABC Q1 revenue up 15.1%

VALLEY FORGE, Pa. — AmerisourceBergen on Wednesday reported that in its fiscal year 2015 first quarter ended Dec. 31, 2014, revenue increased 15.1% to $33.6 billion in the quarter. 

 

“We are off to a great start in fiscal 2015, with excellent financial and operational performance across our businesses,” stated Steven Collis, AmerisourceBergen president and CEO. “We have also made important progress against our strategic objectives by signing a definitive agreement to acquire MWI Veterinary Supply earlier this month. We continue to expect the transaction to close in the March quarter, and we are very excited about the opportunities that lie ahead in our core businesses and with MWI in the remainder of this fiscal year and beyond.”

 

The revenue increase represents a 15% increase in AmerisourceBergen Drug Corporation revenue, due primarily to the onboarding of the new Walgreens generic pharmaceuticals business, strong sales of products that treat hepatitis C, and solid organic sales growth in ABC's independent pharmacy, health systems and alternate site customers, the wholesaler reported. 

 

The company realized a 26% increase in AmerisourceBergen Specialty Group revenue, which was driven by strong performance in blood products, vaccine and physician office distribution businesses, the impact of manufacturer shifts of certain oncology products from full line distribution to specialty distribution, strong performance in ABC's third-party logistics business, and an increase in sales to community oncology practices.