AmerisourceBergen throws down nearly $1.3B cash for German life sciences company
16 Sep 2022
Antibody
AmerisourceBergen earned a whopping $60.1 billion last quarter, thanks in part to its distribution of government-owned Covid treatments. Now it’s time to reinvest some of that cash.
The pharmaceutical distributor is plunking down $1.28 billion to acquire PharmaLex, a German life sciences company that boasts a range of consulting and support services from clinical development to post-launch, the companies announced on Monday.
While the deal likely won’t close until March 2023, CEO Steven Collis is already anticipating the expansion of the company’s European footprint. PharmaLex is based in Germany, but holds offices throughout Europe, Asia, and in the US, Australia and Brazil, according to the company’s website.
“AmerisourceBergen is committed to building on our leadership in specialty services through a continued focus on innovation and partnerships, and by acquiring PharmaLex, we will be able to further enhance our value proposition to pharmaceutical manufacturers, from emerging biotechs to global biopharmaceutical leaders,” Collis said in a news release.
PharmaLex will be swallowed by AmerisourceBergen’s International Healthcare Solutions segment. AmerisourceBergen was not immediately available for an interview.
The company’s US revenue reached $53.4 billion last quarter, up 6% from the same period last year. The company has supported a handful of Covid treatments, including Eli Lilly’s antibody bamlanivimab, Gilead’s antiviral Veklury, and Merck and Ridgeback’s molnupiravir.
PharmaLex isn’t Collis’ only big purchase in recent years. Last June, AmerisourceBergen closed on a $6.275 billion deal for Walgreens Boots Alliance’s Alliance Healthcare business. Later that year, the company unveiled its new 429,000-square-foot global headquarters in Conshohocken, PA.
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