AmerisourceBergen fiscal 2016 Q1 revenue up 9.3%

VALLEY FORGE, Pa. - AmerisourceBergen on Thursday reported a revenue increase of 9.3% to $36.7 billion for the fiscal 2016 first quarter ended Dec. 31. 

 

“Our recent acquisitions, MWI Veterinary Supply and PharMEDium, as well as strong contributions from our specialty business and our international businesses helped overcome a challenging year over year comparison and a sharper than expected decline in generic inflation,” reported Steven Collis, AmerisourceBergen president and CEO. 

 

AmerisourceBergen posted a 7% increase in Pharmaceutical Distribution revenue, which includes both AmerisourceBergen Drug Corporation and AmerisourceBergen Specialty Group. 

 

In the first fiscal quarter of 2016, Pharmaceutical Distribution revenues were $35.2 billion. ABDC revenues increased 5%, due primarily to solid organic sales growth from the wholesaler's chain retail, independent pharmacy and health systems customers. ABSG revenues increased 15%, which was driven by strong performance in the company's oncology business and by sales growth in ABC's blood products, vaccine and physician office distribution businesses. 

 

“This morning, we announced that we signed a distribution agreement with a new customer, Publix, the impact of which was included in our previously disclosed fiscal 2016 expectations. In January 2016, we signed an early renewal and long-term contract extension with our largest independent pharmacy group purchasing organization customer, Compliant Pharmacy Alliance Cooperative,” Collis said. “While this strategic renewal was not contemplated in our prior expectations, it strengthens our position in a key customer segment for many years to come.”