Skip to content

COR · Cencora, Inc.

26 filings

10-K

COR 10-K Annual Reports

Cencora, Inc. - 26 annual reports

Filing record · 2016–202610-K1010-Q338-K184

2025
Cencora, Inc. Annual Report, Year Ended Sep 30, 2025
Cencora, Inc. (COR) reported strong revenue growth of 9.3% for fiscal year 2025, reaching $321.3 billion, driven by its U.S. Healthcare Solutions segment. This growth was significantly boosted by increased sales of specialty products and a substantial $7.7 billion in sales for GLP-1 class diabetes and weight loss medications. The company also saw a healthy increase in gross profit of 15.8%, primarily attributed to the U.S. segment's performance, including the recent acquisition of RCA, and higher gains from antitrust litigation settlements. Despite overall positive financial trends, Cencora recorded a significant goodwill impairment of $723.9 million related to its PharmaLex reporting unit, impacting operating expenses. The company's debt also increased significantly due to financing activities for the RCA acquisition, leading to a substantial rise in interest expenses. Looking ahead, Cencora continues to focus on optimizing its U.S. and international healthcare solutions, exploring strategic acquisitions, and managing its diversified business segments.
Nov 25, 2025
2024
Cencora, Inc. Annual Report, Year Ended Sep 30, 2024
Cencora, Inc. (COR) reported a strong fiscal year 2024, with revenue increasing by 12.1% to $293.96 billion, driven primarily by growth in its U.S. Healthcare Solutions segment. This growth was fueled by increased unit volumes, notably in GLP-1 class drugs for diabetes and weight loss, specialty products, and COVID-19 therapies and vaccines. The company also experienced robust gross profit growth of 10.6%, benefiting from increased sales and a favorable shift from LIFO expense to a LIFO credit. However, operating expenses saw a significant increase of 16.9%, largely due to a $418 million goodwill impairment related to PharmaLex and increased litigation and opioid-related expenses. Despite these headwinds, total segment operating income grew by 10.9%, showcasing the underlying strength of its core businesses. A major development during the year was the agreement to acquire Retina Consultants of America (RCA) for approximately $4.6 billion, signaling a strategic move into new growth areas, funded by a combination of cash and debt. Cencora continues to prioritize shareholder returns, with a consistent increase in quarterly dividends and ongoing share repurchase programs. The company's financial health remains solid, supported by strong operating cash flows and access to credit facilities, although it faces ongoing industry challenges such as pricing pressures and regulatory complexities.
Nov 26, 2024
2023
Cencora, Inc. Annual Report, Year Ended Sep 30, 2023
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported a significant increase in revenue for the fiscal year ending September 30, 2023, driven primarily by its U.S. Healthcare Solutions segment. This growth was fueled by increased unit volume, particularly in diabetes and weight loss medications (GLP-1 class), and specialty products. The company also saw a notable rise in gross profit, supported by increased sales, gains from antitrust litigation settlements, and expansion in its International Healthcare Solutions segment, including the acquisition of PharmaLex. However, operating expenses also rose, influenced by integration and rebranding costs associated with the company's name change. Despite these revenue and gross profit increases, the company's net income saw a slight decrease year-over-year. This was partly due to higher operating expenses, increased amortization from recent acquisitions, and the absence of a prior year goodwill impairment credit. Cencora continues to navigate a complex regulatory environment and manage the ongoing financial impact of opioid litigation, for which a substantial liability remains. The company also repurchased a significant amount of its own stock and continued to pay dividends, signaling a commitment to shareholder returns.
Nov 21, 2023
2022
Cencora, Inc. Annual Report, Year Ended Sep 30, 2022
Cencora, Inc. (formerly AmerisourceBergen) reported strong revenue growth of 11.5% for the fiscal year ended September 30, 2022, primarily driven by the acquisition of Alliance Healthcare and increased sales within its U.S. Healthcare Solutions segment. Gross profit also saw a significant increase of 19.5%, bolstered by the Alliance Healthcare acquisition and favorable fees from distributing COVID-19 treatments, although offset by LIFO expenses and other factors. The company is strategically focused on optimizing its U.S. and International Healthcare Solutions businesses while also pursuing growth through acquisitions, exemplified by the announced acquisition of PharmaLex. Despite significant investments and an ongoing opioid litigation settlement totaling billions over 18 years, Cencora demonstrated resilience, with operating income showing a modest increase. The company continues to manage its debt effectively and returned value to shareholders through dividends and share repurchases, signaling a commitment to both growth initiatives and shareholder returns.
Nov 22, 2022
2021
Cencora, Inc. Annual Report, Year Ended Sep 30, 2021
Cencora, Inc. (formerly AmerisourceBergen) reported strong revenue growth of 12.7% for the fiscal year ended September 30, 2021, driven by its core Pharmaceutical Distribution Services segment and the significant acquisition of Alliance Healthcare in June 2021. This acquisition notably expanded the company's international presence and service offerings. Despite revenue growth, the company faced challenges, particularly from ongoing opioid litigation, for which a significant accrual of $6.6 billion was made in the prior fiscal year, with an additional $147.7 million in the current year. The company's strategy focuses on optimizing and growing its pharmaceutical distribution and global commercialization services, alongside its animal health business. While the acquisition of Alliance Healthcare positively impacted revenue and gross profit, it also lowered the gross profit margin for the 'Other' segment due to the acquired entity's lower margin profile. Management anticipates continued revenue growth in the high-single to low-double digits for fiscal year 2022, though this is subject to various industry and economic factors.
Nov 23, 2021
2020
Cencora, Inc. Annual Report, Year Ended Sep 30, 2020
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported significant changes in its fiscal year 2020, primarily driven by a substantial legal accrual related to opioid litigation. While revenue saw a healthy increase of 5.7% year-over-year, reaching nearly $190 billion, the company recorded a net loss of $3.4 billion due to the $6.6 billion legal accrual. This accrual significantly impacted operating income and diluted earnings per share. Despite this, the company highlighted revenue growth in its Pharmaceutical Distribution Services segment, driven by specialty products and key customer relationships, and also saw growth in its Other segments (MWI Animal Health, Global Commercialization Services). Looking ahead, Cencora's strategy remains focused on optimizing its pharmaceutical distribution and global commercialization services, with continued investment in technology and automation. The company also faces ongoing risks related to pricing pressures, competition, regulatory changes, and the broader economic impact of the COVID-19 pandemic, which it actively manages while pursuing strategic growth initiatives.
Nov 19, 2020
2019
Cencora, Inc. Annual Report, Year Ended Sep 30, 2019
Cencora, Inc. (formerly AmerisourceBergen) reported significant revenue growth in its fiscal year ending September 30, 2019, with a 6.9% increase driven primarily by its Pharmaceutical Distribution Services segment. This growth was supported by strong specialty product sales, the consolidation of Profarma, and the acquisition of H.D. Smith. The company's diversification into Animal Health and Global Commercialization Services also contributed positively. Despite revenue increases, operating income saw a substantial decrease of 23.0% due to a significant $570 million impairment of long-lived assets related to its PharMEDium compounding operations, coupled with increased employee severance, litigation, and other costs. However, the company also benefited from gains on antitrust litigation settlements and a favorable LIFO credit compared to the prior year. Significant legal and operational challenges were noted, particularly concerning PharMEDium's regulatory compliance and the ongoing opioid litigation, which continue to be material factors impacting the company's financial performance and outlook.
Nov 19, 2019
2018
Cencora, Inc. Annual Report, Year Ended Sep 30, 2018
Cencora, Inc. (COR), formerly AmerisourceBergen, reported strong revenue growth of 9.7% for the fiscal year ended September 30, 2018, reaching $167.9 billion. This growth was primarily driven by its Pharmaceutical Distribution Services segment, bolstered by significant acquisitions like H.D. Smith and consolidation of Profarma. Despite an increase in operating expenses, mainly due to integration costs and IT system implementations, operating income saw a substantial increase of 36.2% compared to the prior year. This improvement was largely attributed to a significant reduction in litigation and severance costs compared to the prior year, which had been impacted by large settlement charges. The company's financial performance was also positively influenced by the Tax Cuts and Jobs Act of 2017, which reduced the U.S. federal corporate tax rate, resulting in a significant income tax benefit. While Cencora's core distribution business remains robust, the company is navigating challenges including an unfavorable pharmaceutical pricing environment, ongoing opioid-related litigation, and regulatory scrutiny on its pharmaceutical compounding operations. These factors, alongside customer concentration risk, present ongoing areas for investor attention.
Nov 20, 2018
2017
Cencora, Inc. Annual Report, Year Ended Sep 30, 2017
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported a revenue increase of 4.3% for the fiscal year ended September 30, 2017, reaching $153.14 billion. This growth was primarily driven by its Pharmaceutical Distribution Services segment. Despite increased revenue, operating income saw a decline from $1.53 billion in the prior year to $1.06 billion, largely due to significant litigation settlements and accruals totaling $914.4 million recognized during the fiscal year. The company also experienced a substantial increase in its effective tax rate to 60.3% in fiscal year 2017, impacted by non-deductible legal settlements. The company continues to execute its strategy focused on optimizing and growing its pharmaceutical distribution and global sourcing businesses, as well as its global commercialization services and animal health segments. Strategic acquisitions remain a key component of its growth strategy. Cencora operates a vast distribution network and serves a diverse customer base, with its two largest customers, Walgreens Boots Alliance and Express Scripts, accounting for approximately 45% of its revenue. The company also highlighted its commitment to shareholder returns through dividend increases and share repurchases.
Nov 21, 2017
2016
Cencora, Inc. Annual Report, Year Ended Sep 30, 2016
Cencora, Inc. (COR) demonstrated robust revenue growth in fiscal year 2016, driven by an 8.0% increase attributed to strong performance in its Pharmaceutical Distribution segment, bolstered by acquisitions like MWI and PharMEDium. While gross profit saw a significant increase of 21.1% year-over-year, partly due to a reduction in LIFO expense and antitrust litigation gains, the company's pharmaceutical distribution segment's gross profit margin slightly declined due to pricing pressures and less favorable contract renewals. The company managed its expenses effectively, with distribution, selling, and administrative expenses increasing due to acquisitions but remaining a relatively stable percentage of revenue. A notable factor impacting the year's financial results was the significant decrease in Warrants expense, a positive development for the company. Cencora also continued its commitment to shareholder returns through dividend increases and substantial share repurchases, reflecting confidence in its financial position and future prospects despite facing a competitive market and ongoing regulatory scrutiny.
Nov 22, 2016
2015
Cencora, Inc. Annual Report, Year Ended Sep 30, 2015
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported strong revenue growth of 13.7% to $135.96 billion for the fiscal year ended September 30, 2015, driven by increased distribution to Walgreens Boots Alliance (WBA), growth in specialty pharmaceuticals, and the acquisition of MWI Veterinary Supply. Despite this top-line growth, the company reported a net loss of $134.9 million, or a diluted loss of $0.62 per share. This loss was primarily attributed to significant "Warrant expense" ($912.7 million) related to its strategic partnership with WBA and higher "LIFO expense" ($542.8 million) due to changes in the generics pricing environment. The company also made substantial strategic moves, including the acquisition of MWI Veterinary Supply and PharMEDium Healthcare Holdings, signaling a focus on expanding its services into animal health and specialized pharmaceutical preparations. Investors should note the significant impact of warrant valuation on earnings and the company's ongoing efforts to mitigate potential dilution. The company's financial health remains robust with total assets of $27.7 billion, but liabilities also increased significantly to $24.3 billion, largely due to the new debt taken on for acquisitions. The company continued its dividend growth, increasing its quarterly dividend by 17% to $0.34 per share, demonstrating a commitment to returning value to shareholders. However, the significant warrant expense and its impact on reported earnings are key points for investor consideration.
Nov 24, 2015
2014
Cencora, Inc. Annual Report, Year Ended Sep 30, 2014
AmerisourceBergen (ticker ABC, renamed Cencora later) reported fiscal 2014 (year ended September 30, 2014) revenue of $119.6 billion, up 35.9% from $88.0 billion, driven mainly by the ten-year Walgreens distribution agreement, which lifted Walgreens to 28% of revenue. Gross profit rose 18.9% to $2.98 billion, but gross margin in Pharmaceutical Distribution slipped 28 basis points to 2.36% as lower-margin Walgreens volume grew. Operating income fell 13.3% to $778.9 million, and diluted EPS from continuing operations dropped 42.4% to $1.21, primarily because of a $422.7 million non-cash charge for warrants issued to Walgreens and Alliance Boots and a $348.1 million LIFO charge. Net income was $276.5 million, or $1.17 diluted EPS. The balance sheet and cash flow picture is more favorable than the earnings decline suggests. Operating cash flow was $1.46 billion, up from $788 million, helped by a $2.3 billion increase in payables, though working capital absorbed large receivables and inventory build-ups tied to Walgreens. Cash rose to $1.8 billion. Long-term debt grew to $2.0 billion after a May 2014 issuance of $1.1 billion in senior notes, which funded the early retirement of the $500 million 5.875% notes due 2015. Management also returned substantial capital through $754 million of buybacks and $214 million of dividends, and it announced a 23% dividend increase to $0.29 per quarter. Investors should note that the warrant expense is non-cash but dilutive, and that Walgreens and Express Scripts remain significant concentration risks. Management guides fiscal 2015 revenue growth of 7% to 8%, plans roughly $400 million of share repurchases excluding special program purchases, and expects capital expenditures of about $300 million. Several risks remain prominent in the filing, including pending qui tam and DEA controlled-substance subpoenas, Medicaid reimbursement changes under the Affordable Care Act, and the possibility that the Express Scripts contract, which expires in September 2015, is not renewed.
Nov 25, 2014
2013
Cencora, Inc. Annual Report, Year Ended Sep 30, 2013
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported strong revenue growth in fiscal year 2013, driven by its core pharmaceutical distribution business and a significant increase in its 'Other' segment, largely due to the acquisition of World Courier in the prior year. The company's strategic focus on optimizing its distribution and specialty businesses, alongside a new ten-year distribution agreement with Walgreens (effective September 1, 2013), positions it for continued expansion. Despite revenue growth, gross profit saw a decline due to a substantial LIFO charge and lower gross profit margins in the Pharmaceutical Distribution segment, influenced by changes in customer mix and competitive pressures. Operating expenses increased, largely due to warrant expenses related to the Walgreens partnership and incremental costs from acquisitions. Net income and earnings per share experienced a notable decrease year-over-year, impacted by these factors and higher effective tax rates. The company continues to manage its capital effectively through share repurchases and dividend payments, while also navigating regulatory environments and investing in information systems to support future growth.
Nov 26, 2013
2012
Cencora, Inc. Annual Report, Year Ended Sep 30, 2012
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported a fiscal year 2012 revenue of $79.5 billion, a slight decrease of 0.6% from the prior year. This was primarily driven by a 3% decline in the AmerisourceBergen Drug Corporation (ABDC) segment, partly offset by a 6% increase in the AmerisourceBergen Specialty Group (ABSG) and contributions from recent acquisitions. The company strategically expanded its services by acquiring TheraCom, LLC, and World Courier Group, Inc., aiming to strengthen its consulting and specialty distribution businesses, respectively. Despite the slight revenue dip, gross profit increased by 6.7% due to contributions from these acquisitions and growth in generic programs, although this was partially offset by a decline in certain specialty oncology drugs. The company's strategic focus remains on optimizing its pharmaceutical distribution and specialty distribution segments, supported by ongoing investments in technology and operational efficiency. Management anticipates continued revenue growth in fiscal year 2013, driven by a new contract with Express Scripts.
Nov 27, 2012
2011
Cencora, Inc. Annual Report, Year Ended Sep 30, 2011
AmerisourceBergen Corporation (NYSE: ABC; now Cencora) reported fiscal 2011 (year ended September 30, 2011) revenue of $80.2 billion, up 2.9% from $78.0 billion. Growth came mainly from AmerisourceBergen Drug Corporation, which grew 5%, partly offset by a 3% revenue decline at its specialty group. Gross profit rose 7.7% to $2.54 billion, and gross margin improved 15 basis points to 3.17%, helped by launches of three specialty generic oncology drugs and growth in generic programs. Operating income rose 9.0% to $1.20 billion, and net income rose 11.0% to $706.6 million. Diluted EPS was $2.54, up 14.4%, which was helped by a 3% reduction in weighted average shares from buybacks. The outlook is more cautious. Management expects fiscal 2012 revenue to be roughly flat to modestly up. The company will lose Long's Drugs, a roughly $2 billion revenue customer, after September 30, 2011. Gross profit from the three specialty generics is expected to fall significantly, and management expects that decline to be substantially offset by over 30 brand-to-generic conversions. Concentration risk is significant: Medco Health Solutions, the largest customer at 19% of revenue, announced a merger with Express Scripts, and its contract runs only through March 2013. Interest expense is expected to rise significantly in fiscal 2012 after the $500 million 3.5% senior notes issued in November 2011. Capital allocation was shareholder-friendly. The company repurchased $848.1 million of stock in fiscal 2011, authorized a new $750 million program, and expects to buy back about $400 million in fiscal 2012. The quarterly dividend was raised 13% to $0.13 per share in November 2011. The balance sheet is conservatively structured, with $1.83 billion of cash against $1.36 billion of debt. Post-period, the company agreed to acquire TheraCom for $250 million, which the company says will significantly expand its consulting services.
Nov 22, 2011
2010
Cencora, Inc. Annual Report, Year Ended Sep 30, 2010
Cencora, Inc. (formerly AmerisourceBergen) reported its fiscal year results ending September 30, 2010. The company, a major pharmaceutical services provider, experienced robust revenue growth driven by its Pharmaceutical Distribution segment. This segment, comprising AmerisourceBergen Drug Corporation (ABDC), AmerisourceBergen Specialty Group (ABSG), and AmerisourceBergen Packaging Group (ABPG), saw a significant increase in revenue year-over-year. The company highlighted strong performance in its generic drug programs and increased contributions from fee-for-service agreements with pharmaceutical manufacturers, particularly benefiting from a new generic oncology drug launch. Despite the positive revenue trend, Cencora highlighted several risk factors, including intense competition in the pharmaceutical distribution market, potential price deflation in generics, and the impact of economic conditions. The company also noted ongoing investments in its Business Transformation project, including a new enterprise resource planning (ERP) platform, which is expected to improve efficiency and lower costs in the long term, although it incurred significant expenses during the implementation phase. Cencora continued its commitment to shareholder returns through dividend increases and share repurchases.
Nov 23, 2010
2009
Cencora, Inc. Annual Report, Year Ended Sep 30, 2009
This fiscal 2009 10-K (fiscal year ended September 30, 2009, filed November 25, 2009) is from AmerisourceBergen Corporation, which traded as NYSE: ABC and is now known as Cencora (COR). The company is one of the largest pharmaceutical services companies in the U.S. and Canada. Total revenue rose 2% to $71.8 billion, and operating income grew 7% to $883.7 million. Reported net income more than doubled to $503.4 million, but that comparison is distorted by a $224.9 million non-cash charge on the PMSI divestiture in fiscal 2008. Excluding discontinued operations, diluted EPS from continuing operations rose 17% to $1.69, helped by a 7% reduction in weighted average shares from buybacks. Gross margin held steady at 2.93% of revenue. Growth was constrained by the loss of roughly $3 billion in annual retail chain business in July 2008. Strong generic and specialty growth, including a 7% rise at AmerisourceBergen Specialty Group to $15.6 billion, partly offset that loss. Cash generation was strong, with operating cash flow of $783.8 million, cash and equivalents of $1.0 billion, and total debt of $1.18 billion. The company returned capital through $450.4 million of share repurchases and $62.7 million of dividends. Management authorized a new $500 million buyback and expects to repurchase about $350 million of stock in fiscal 2010. The quarterly dividend was raised 33% to $0.08 per share in November 2009, and a 2-for-1 stock split took effect in June 2009. Management guides to 5% to 7% revenue growth for fiscal 2010. Investors should weigh concentration risk, since Medco Health Solutions represents 17% of revenue and the top ten customers represent about 41%. Other key risks include declining anemia drug sales, pending Medicaid reimbursement changes, possible health reform, and a qui tam False Claims Act suit tied to Amgen's Aranesp, which fourteen states and the District of Columbia joined in October 2009 alongside an ongoing Department of Justice investigation. From a financial standpoint, the company remains a low-margin, high-volume distributor with a substantial working capital cycle. Operating cash flow benefited from a $1.26 billion increase in payables, accrued expenses and taxes, partly offset by a $765 million inventory build, some of which reflected about $400 million of September 2009 purchases tied to a product launch and a manufacturer plant shutdown. Investors should monitor whether these timing benefits persist and whether the company can continue to grow profits while absorbing the ongoing Business Transformation ERP investment through fiscal 2011.
Nov 25, 2009
2008
Cencora, Inc. Annual Report, Year Ended Sep 30, 2008
AmerisourceBergen Corporation (now Cencora, Inc.) reported its 2008 fiscal year-end results, highlighting steady revenue growth driven by its Pharmaceutical Distribution segment. The company benefited from an aging population and increased use of pharmaceuticals, including generics. Strategic initiatives included optimizing its distribution network and growing its specialty pharmaceutical business through acquisitions like Bellco Health. The company also divested its workers' compensation business, PMSI, recognizing a significant charge related to this divestiture. Despite facing intense competition and regulatory scrutiny, AmerisourceBergen demonstrated resilience, with management focusing on operational efficiency and strategic growth to navigate the evolving healthcare landscape.
Nov 25, 2008
2007
Cencora, Inc. Annual Report, Year Ended Sep 30, 2007
AmerisourceBergen Corporation (COR) reported strong revenue growth in fiscal year 2007, driven by its Pharmaceutical Distribution segment, which accounts for the vast majority of its business. The company saw a 9% increase in operating revenue to $61.7 billion, largely due to performance in its AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG) divisions. ABSG, in particular, demonstrated robust growth, exceeding overall market expansion, primarily in its oncology-focused distribution and services. The company continued its strategic focus on optimizing its distribution and service businesses through both organic growth initiatives and targeted acquisitions, including the notable acquisition of Bellco Health for $181 million. While the company faced some headwinds, such as increased bad debt expense and the impact of declining anemia drug sales on ABSG, its overall financial performance remained solid. The company also actively managed its capital structure, repurchasing a significant amount of its stock and increasing its quarterly dividend.
Nov 28, 2007
2006
Cencora, Inc. Annual Report, Year Ended Sep 30, 2006
AmerisourceBergen Corporation (COR) reported a strong fiscal year ended September 30, 2006, demonstrating significant revenue growth and improved profitability. The company's strategic transition to a fee-for-service model in its pharmaceutical distribution business appears to be yielding positive results, leading to a more predictable earnings pattern and strengthened relationships with manufacturers. Acquisitions in Canada and the UK, along with continued investment in specialty distribution and value-added services, indicate a focus on expanding market reach and service offerings. Key financial highlights include a substantial increase in operating revenue and operating income, driven primarily by the Pharmaceutical Distribution segment, particularly its Specialty Group. The company also successfully managed its debt structure, with rating upgrades from major credit agencies reflecting improved financial health. While facing competitive pressures and regulatory complexities inherent in the healthcare industry, AmerisourceBergen appears well-positioned for continued growth, supported by strategic acquisitions and operational efficiencies.
Dec 8, 2006
2005
Cencora, Inc. Annual Report, Year Ended Sep 30, 2005
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported fiscal year 2005 revenues of $50.0 billion, a 2% increase from the prior year, driven by growth in its Pharmaceutical Distribution segment. However, operating income saw a significant decline of 29% to $637 million, largely due to a decrease in gross profit margins, which fell to 3.96% from 4.44% in the previous year. This margin compression is attributed to changes in the pharmaceutical supply channel, including pressure to reduce price increases and a transition from manufacturer price-increase-dependent models to fee-for-service arrangements. The company is actively managing its cost structure through a significant distribution network consolidation plan, aiming to reduce facilities from 51 to the mid-20s by the end of fiscal year 2006. Additionally, Cencora is expanding its specialty pharmaceutical business, which has shown strong growth, and is investing in technology and services to enhance efficiency and patient outcomes. The company also announced a 100% increase in its quarterly dividend and a two-for-one stock split, signaling confidence in its future performance.
Dec 9, 2005
2004
Cencora, Inc. Annual Report, Year Ended Sep 30, 2004
Cencora, Inc. (formerly AmerisourceBergen Corporation), in its 2004 10-K filing, outlines its position as a leading pharmaceutical services company in the United States. The company distributes a wide range of pharmaceutical and healthcare products, catering to diverse healthcare providers and pharmaceutical manufacturers. Key business drivers include the aging U.S. population, introduction of new pharmaceuticals, and increased reliance on drug therapies. The report details Cencora's strategic focus on optimizing its distribution network through a consolidation plan aimed at reducing facilities and improving efficiency, alongside growth initiatives in its specialty pharmaceutical business through strategic acquisitions. Financially, Cencora reported significant revenue growth, driven by its core distribution segment. However, the company highlighted increasing competitive pressures leading to a decline in gross profit margins. Management is actively working to transition its business model towards a fee-for-service structure to mitigate volatility caused by manufacturer pricing policies and inventory management agreements. The company also detailed its capital structure, including debt and liquidity, and noted various legal proceedings, none of which were expected to have a material adverse effect on its financial condition.
Dec 10, 2004
2003
Cencora, Inc. Annual Report, Year Ended Sep 30, 2003
Cencora, Inc. (formerly AmerisourceBergen Corporation) reported strong performance for the fiscal year ended September 30, 2003. The company experienced a significant 13% increase in operating revenue, reaching $45.5 billion, driven primarily by its Pharmaceutical Distribution segment. This growth was supported by favorable industry trends such as an aging population and the introduction of new pharmaceuticals. The company also continued its strategic growth through several key acquisitions, including Bridge Medical, US Bioservices Corporation, and Anderson Packaging Inc., enhancing its service offerings and market position. Despite a slight decrease in gross profit margin to 4.93% due to competitive pricing and changes in customer mix, AmerisourceBergen successfully improved operating income by 23% to $883.1 million. This was achieved through operational efficiencies, cost reductions stemming from merger integration, and a focus on lowering its operating expense ratio. The company also maintained its quarterly cash dividend, signaling confidence in its financial stability and future prospects.
Dec 19, 2003
2002
Cencora, Inc. Annual Report, Year Ended Sep 30, 2002
AmerisourceBergen, Inc. (COR) reported strong revenue growth in its 2002 10-K filing, primarily driven by the significant merger with Bergen Brunswig Corporation completed in August 2001. The company operates in two main segments: Pharmaceutical Distribution and PharMerica (institutional pharmacy services). The Pharmaceutical Distribution segment is the larger contributor, benefiting from industry tailwinds such as an aging population and increased use of outpatient drug therapies. Management highlighted a strategic focus on continued growth in existing markets and expansion through value-added healthcare solutions for both customers and suppliers. While revenue saw a substantial increase, the company also detailed ongoing integration efforts and associated costs following the merger. Key initiatives include streamlining its distribution network and eliminating duplicate administrative functions to achieve significant annual synergies. Several acquisitions were also completed or announced, indicating a commitment to inorganic growth and expanding service offerings. The company faced competitive pressures impacting gross profit margins, but managed operating expenses effectively, leading to improved operating income. Investors should note the company's stated intention to continue paying quarterly cash dividends and its significant debt position resulting from the merger, which is being managed through various credit facilities and note issuances.
Dec 24, 2002
2001-A
Cencora, Inc. Annual Report (Amendment), Year Ended Sep 30, 2001
This 10-K/A filing from AmerisourceBergen Corporation (AMBC) amends and supplements information originally filed on December 28, 2001, specifically concerning executive compensation and related transactions for the fiscal year ended September 30, 2001. The primary focus of this amendment is to correct inaccuracies in the reporting of stock options granted to certain named executive officers in fiscal years 1999 and 2000, and to provide updated details regarding loan forgiveness and outstanding loans to executives, particularly in light of the merger between AmeriSource Health Corporation and Bergen Brunswig Corporation. Investors should note these adjustments for a clearer understanding of executive remuneration and potential related party transactions.
Aug 14, 2002
2001
Cencora, Inc. Annual Report, Year Ended Sep 30, 2001
This 10-K filing for Cencora, Inc. (formerly AmerisourceBergen Corporation) for the fiscal year ended September 29, 2001, details the significant merger between AmeriSource Health Corporation and Bergen Brunswig Corporation, creating a leading pharmaceutical services company in the United States. The company operates primarily in two segments: Pharmaceutical Distribution and PharMerica (institutional pharmacy services). The filing highlights the strategic advantages of the merger, including expanded scale, broader service offerings, and opportunities for operational efficiencies. Despite significant merger-related costs and integration efforts, the combined entity is positioned to capitalize on industry growth drivers such as an aging population, new pharmaceutical development, and the increasing use of outpatient drug therapies. Investors should note the company's focus on value-added solutions for both customers and suppliers, a commitment to improving operating efficiencies, and a decentralized operating structure designed for rapid customer response.
Dec 28, 2001