AmerisourceBergen


AmerisourceBergen Corporation is an American drug wholesale company that was formed by the merger of Bergen Brunswig and AmeriSource in 2001. They provide drug distribution and related services designed to reduce costs and improve patient outcomes. They also distribute a line of brand name and generic pharmaceuticals, over-the-counter health care products and home health care supplies and equipment to health care providers throughout the United States, including acute care hospitals and health systems, independent and chain retail pharmacies, mail-order facilities, physicians, clinics and other alternate site facilities, as well as nursing and assisted living centers. They also provide pharmaceuticals and pharmacy services to long-term care, workers' compensation and specialty drug patients.
AmerisourceBergen is a market leader in pharmaceutical distribution handling about 20% of all of the pharmaceuticals sold and distributed throughout the country and ranked 10th on the Fortune 500 list for 2019 with over $153 billion in annual revenue. In 2012, the firm was the largest by revenue based in Pennsylvania.

History

AmerisourceBergen was formed in 2001 following the merger of AmeriSource Health Corporation and Bergen Brunswig Corporation.
David Yost was CEO of Amerisource prior to the merger and remained in the position after the companies merged.
AmerisourceBergen has 26 pharmaceutical distribution centers in the US, nine distribution centers in Canada, four specialty distribution centers in the US, and over 1 million square feet of packaging production capacity in the US and the UK. With the addition of World Courier, the largest specialty courier company in the world, over 150 company-owned offices around the globe were added to the company.
In 2011, the company acquired IntrinsiQ for $35 million and Premier Source for an undisclosed amount. In July, Steven Collis replaced Yost as CEO of the company.
In March 2012, AmerisourceBergen agreed to acquire World Courier Group Inc, a transportation and logistics provider for the biopharmaceutical industry, for $520 million.
In January 2015 the company bought MWI Veterinary for $2.5 billion. In October, they agreed to buy PharMEDium, a compounding drug company, for $2.58 billion.
On January 3, 2018, AmerisourceBergen acquired H. D. Smith, the largest privately-held national pharmaceutical wholesaler in the U.S.
AmerisourceBergen is among several distributors that have been sued by West Virginian governments for contributing to the Opioid epidemic, by shipping inordinate amounts of pain medication into the state.

Finances

For the fiscal year 2017, AmerisourceBergen reported earnings of US$364 million, with an annual revenue of US$153.144 billion, an increase of 4.3% over the previous fiscal cycle. AmerisourceBergen's shares traded at over $84 per share, and its market capitalization was valued at over US$18.9 billion in October 2018.
YearRevenue
in mil. USD$		Net income
in mil. USD$		Total Assets
in mil. USD$		Price per Share
in USD$		Employees
200554,57726511,38114.19
200660,81246812,78418.46
200765,67246912,31020.52
200870,19025112,21816.87
200971,76050313,57317.36
201077,77663714,43526.66
201178,69670714,98334.55
201278,08171915,44235.15
201387,95943418,91952.4413,000
2014119,56927421,53269.9814,000
2015135,962−13827,96398.7317,500
2016146,8501,42833,63880.0319,000
2017153,14436435,31684.2520,000

In October of 2018, AmerisourceBergen agreed to pay $625 million to settle civil fraud allegations resulting from its repackaging and sale of adulterated drugs and unapproved new drugs, double billing and providing kickbacks to physicians. AmerisourceBergen's stock price reportedly plummeted after they were among other drug distributors who offered $10 billion to settle their portion of the national opioids lawsuit. States countered with $45 billion.

Corporate structure

AmerisourceBergen operates its pharmaceutical distribution business under four primary units: AmerisourceBergen Drug Corporation, AmerisourceBergen Specialty Group, AmerisourceBergen Consulting Services and World Courier. In March 2016 Walgreens Boots Alliance Inc. announced it would exercise an option to purchase 22.7 million shares of AmerisourceBergen stock and thereby control 15% of the company.

Good Neighbor Pharmacy

is an American retailers' cooperative network of more than 3,400 independently owned and operated pharmacies. It has a business affiliation with AmerisourceBergen, which sponsors the network and owns the name "Good Neighbor Pharmacy." Good Neighbor Pharmacy is the sponsor for "Thought Spot" the annual trade show held in Las Vegas.

ThoughtSpot

ThoughtSpot is a four-day trade show put on by Good Neighbor Pharmacy held in or around July in Las Vegas aimed for and limited to community and independent pharmacies. The event is advertised as "your yearly opportunity to get away from the grind for a few days to recharge and refocus on the past, present and future of your pharmacy."
Exhibitors are represented throughout the healthcare industry including, brand name, generic and over the counter products. ThoughtSpot 2013 was hosted at the MGM Grand, Las Vegas from July 24 to July 27. Special guest musical performance by Bret Michaels capped off the week on July 27 at a special attendee-only closing event.

Opioid epidemic

In December 2019, Michigan became the first state to sue AmerisourceBergen and three other opioid distributors as drug dealers for their role in the state's opioid crisis. The lawsuit is filed under the Michigan Drug Dealer Liability Act. AmerisourceBergen was among four companies who, because of their role in the addiction crisis, agreed to pay $260 million to two Ohio counties.
In May 2020, Oklahoma Attorney General Mike Hunter sued AmerisourceBergen in Bryan County District Court, Oklahoma. The lawsuit alleged that the company's actions helped fuel Oklahoma's opioid crisis. The suit was filed along with lawsuits against Cardinal Health and McKesson, and the three lawsuits allege that the three companies provided "enough opioids to Bryan County that every adult resident there could have had 144 hydrocodone tablets."