AmerisourceBergen, also known as AmerisourceBergen Corporation, is a US-based wholesale medicine firm that was created in 2001 as a result of the amalgamation of Amerisource and Bergen Brunswig.
The company offers medicine supply and advisory services associated with healthcare sector activities and patient facilities.
The company also supplies a series of generic and branded OTC (over-the-counter) health care goods, pharmaceutics, and family health care provisions and devices to health care suppliers across the US, comprising critical care hospitals and healthcare setups, autonomous and retail chain drugstores, postal-order services, doctors, health centers and other substitute location services, together with assisted living and nursing hubs.
The company also offers drugstore facilities and pharmaceuticals to workers’ compensation, long-standing care, as well as specialized medicine patients.
AmerisourceBergen manages around 20% of all of the drugs marketed and supplied across the US and enjoys the tenth rank on the 2020 Fortune 500 list with more than US $179 billion as yearly income. In 2012, AmerisourceBergen stood as the biggest in terms of revenue among Pennsylvania-oriented firms.
In 2001, the company came into existence after the unification of Bergen Brunswig Corporation and AmeriSource Health Corporation.
Before the fusion of the two entities, the Chief Executive Officer of the organization was David Yost and he continued with the role following the fusion of the two companies.
AmerisourceBergen Corporation features twenty-six medicine supply hubs in the United States, four specialized supply hubs in the United States, nine supply hubs in Canada, and more than one million sq ft of packing output facility in the United Kingdom and the US. After the inclusion of World Courier, the biggest specialized courier service provider in the world, more than one hundred fifty firm-held bureaus across the world were included in the organization.
In 2011, AmerisourceBergen purchased IntrinsiQ at a valuation of US $35 million. It also took over Premier Source against an unrevealed sum. In 2011 July, Steven Collis substituted David as the Chief Executive Officer of the firm.
In 2012 March, the company consented to take over World Courier Group Inc, a provision and shipping services supplier for the biopharmaceutical industry at a valuation of US $520 million.
In 2015 January, AmerisourceBergen acquired MWI Veterinary at a valuation of US $2.5 billion. In 2015 October, the company accorded to purchase PharMEDium, a combination medicine firm, at a valuation of US $2.58 billion.
On 3rd January 2018, the company bought H. D. Smith, the biggest privately-operated countrywide drug wholesaler in the United States.
The company is one of the many suppliers that the West Virginian administration has litigated against for being responsible for the Opioid outbreak, by transporting excessive volumes of pain medicine into West Virginia.
On June 29, U.S. HHS or the Department of Health and Human Services declared an extraordinary accord with Gilead. In this arrangement, Health and Human Services consented to the wholesale purchase cost of Gilead, and Health and Human Services would keep on functioning jointly with state administrations and pharmaceutical wholesaler AmerisourceBergen for distributing consignments of Remdesivir ampules to US-based hospitals thru the close of 2020 September. In return, throughout those 90 days (July, August, and September), US-based patients would be distributed more than 90% of the estimated Remdesivir production of Gilead of over 500,000 intervention programs.
The pharma giant runs its pharmaceutical supply activities under 4 chief divisions:
- AmerisourceBergen Specialty Group (ABSG)
- AmerisourceBergen Drug Corporation (ABDC)
- World Courier
- AmerisourceBergen Consulting Services (ABCS)
In 2016 March, Walgreens Boots Alliance Inc. declared that it would work out a choice to acquire 22.7 million stocks of AmerisourceBergen company and thus have power over 15% of the firm.
Good Neighbor Pharmacy Affiliation
Good Neighbor Pharmacy is a US-based merchants’ united association, comprising over 3,400 autonomously held and run drugstores. Good Neighbor has a commercial tie-up with AmerisourceBergen. The company patronizes the association and possesses the name Good Neighbor Pharmacy. It is the supporter of “Thought Spot”, the yearly business exhibition organized in Las Vegas.
It is a 4-day business exhibition performed by Good Neighbor Pharmacy organized in Las Vegas in or close to July targeted at and restricted to society-based and self-regulating drugstores. The occasion is publicized as “your annual chance to escape the toil for one or two days for reviving and focusing again on the yesteryears, present, and future of your drugstore.”
Demonstrators are symbolized across the healthcare sector comprising generic, branded, and over-the-counter medicines.
ThoughtSpot 2020 was organized virtually, starting 15th September 2020.
Which industry does AmerisourceBergen belong to?
The company belongs to the pharmaceutical industry and offers pharmacy services and pharmaceutical products.
Which territory does AmerisourceBergen serve?
AmerisourceBergen serves the following territories:
- The United Kingdom
- North America
How many people are working for AmerisourceBergen?
As of 2021, 21,000 employees are working for the organization.
Steven H. Collis (Chairman, President, and CEO)
Currently, Steven H. Collis serves as the President, Chairman, and Chief Executive Officer of the company, a worldwide healthcare solution giant, presently rated #10 on the list of Fortune 500 companies. In 2011, Collis was nominated CEO and President and in 2016, he got the position of Chairman.
Under the expert guidance of Steven, the organization has witnessed remarkable economic expansion. AmerisourceBergen’s yearly income has soared over 80% throughout Steven’s term as the Chief Executive Officer. Furthermore, the count of its workforce has gone up to 21,000, with a presence in over 50 nations globally.
By tactical investiture and purchases, AmerisourceBergen has amplified its span of solutions and facilities leading to unparalleled customer collaborations, worldwide scope, and profound skills that are influencing healthcare supply.
Steven’s professional stint with AmerisourceBergen covers over twenty years and comprises periods heading the specialized and wholesale supply and allied facilities operations of the organization. In 1994, Collis assisted in setting up the erstwhile Specialty Group enterprise and developed it into the market stalwart in specialized pharmaceutical supply and goods marketing facilities.
Steven has a Bachelor of Commerce degree with Honors from the Johannesburg, South Africa-based University of Witwatersrand. Besides functioning as the Chairman of the board of directors of AmerisourceBergen, he is a member of the BoD of the International Federation of Pharmaceutical Wholesalers. Steven works as a founder vice chairman of the Pennsylvania episode of American Cancer Society’s CEOs Against Cancer and is also a member of the BoD of the American Red Cross Governors.
James F. Cleary (Chief Financial Officer and Executive Vice President)
Mr. Cleary serves as the Chief Financial Officer and Executive VP of the company. He supervises the financial planning of the firm and manages financial activities such as corporate finance, bookkeeping, taxation, investor relations, scrutiny, and coffers. James is dedicated to making the most of investor worth in the long run, assuring an unprejudiced portfolio of development endeavors, and keeping a substantial extent of veracity and clarity.
In 2018, James was appointed as the Chief Financial Officer following a stint of Animal Health and Global Commercialization Services Group President. In that position, Cleary spearheaded the organization’s pharma marketing blends for producers, comprising the overseas trades of the company and the animal health set of options.
Before that, Cleary was working as the Chief Executive Officer of MWI Veterinary Supply Inc. since 2005 till the firm’s takeover by Amerisource in 2015 February. From 2000-2005, James served as the President of the same.
James has a Bachelor of Arts degree from Dartmouth College in Economics and also has an MBA degree from Harvard Business School.
Silvana Battaglia (Chief Human Resources Officer and Executive Vice President)
Silvana Battaglia serves as the Chief Human Resources Officer and Executive Vice President for the company. She carries over twenty years of experience in operating both inland and overseas HR companies, determining high-efficiency traditions, and propelling managerial efficacy inside the pharmaceutical and commercial operations divisions.
Before she got the appointment to her present position in 2019 January, Silvana served as the Global Compensation, Benefits, and Labor Relations Senior Vice President with Aramark. There Ms. Battaglia spearheaded the Total Rewards planning, blueprint, and growth of HR guidelines and procedures and the labor planning of the firm.
With Aramark, Silvana acted as Global Field Human Resources Senior Vice President as well, and she was directly accountable for the supply and distribution of tactical Human Resource operations for over 270,000 affiliates globally situated around 22 nations.
Before holding these positions, Silvana occupied managerial HR headship positions at both Merck and Day & Zimmerman. She also acquired beginner’s Human Resource knowledge from Colorcon, a Segment of Berwind Pharmaceuticals and Wyeth Pharmaceuticals.
Ms. Battaglia has worked as an assistant faculty associate at the Philadelphia-based St. Joseph’s University too.
Silvana has a Bachelor of Arts degree from Temple University in marketing and achieved her M.Sc degree from Widener University in Human Resources.
AmerisourceBergen Stock Performance
The common stocks of the company are traded on the NYSE with the ticker symbol ABC. Besides, the stock is a component of the Standard & Poor 500 index. On November 12, 2021, ABC ended trading with the NYSE at US $125.34 at 4:00 pm Eastern Standard Time (EST).
AmerisourceBergen Financial Performance
Fiscal Year 2021 Fourth Quarter Summary Results
Summary Results Fiscal Year 2021
- Q4 GAAP Diluted Earnings Per Share of US $2.08 and Adjusted Diluted Earnings Per Share of US $2.39
- Revenue of US $58.9 Billion for Q4, a 19.6% Y-O-Y (Year-Over-Year) Hike
- 2021 Fiscal Year GAAP Diluted Earnings Per Share of US $7.39 and Adjusted Diluted Earnings Per Share of US $9.26
- Fiscal Year 2021 Revenue of US $214.0 Billion, showing a 12.7% Y-O-Y (Year-Over-Year) Jump
AmerisourceBergen Corporation aims to remain unified in its task to generate improved futures. The employees know that their responsibility as an organization spreads further than the services offered by them, the clientele served by them, the workforce recruited by the management, as well as the communities where they stay and function. It implies that they realize their moral duty of bettering the welfare of both animals and human beings through expanding accessibility to state-of-the-art healthcare, functioning in an eco-friendly way, and maintaining the best possible benchmarks of security and excellence.
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