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AmerisourceBergen Q4 revenue up 29.1%

BY Michael Johnsen

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday reported that in its fiscal year 2014 fourth quarter ended Sept. 30 revenue increased 29.1% to $31.6 billion in the quarter. 
 
“We delivered exceptional performance in our September quarter, completing a very strong year driven by the onboarding of substantial new business, and outstanding operational and financial results,” said Steven Collis, AmerisourceBergen president and CEO. “We generated excellent free cash flow, improved our balance sheet and returned funds to shareholders. Over the course of the full year, we made important progress on our strategic objectives by investing in our people, in our infrastructure and in assets that help expand our international presence. We enter fiscal 2015 with strong momentum and in excellent position to continue to shape healthcare delivery on an increasingly global basis.”
 
AmerisourceBergen Drug Corp. revenues increased 33%, due primarily to the onboarding of all of the new Walgreens-branded pharmaceuticals business and a substantial portion of their generic pharmaceuticals business, and increased branded pharmaceutical sales to other large customers. AmerisourceBergen Specialty Group revenues increased 13%, driven by strong performance in blood products, vaccine and specialty distribution businesses. 
 
AmerisourceBergen expects adjusted diluted earnings per share from continuing operations in fiscal year 2015 to be in the range of $4.36 to $4.50, an increase of 10% to 13% over fiscal 2014. Revenue growth is expected to be in the 7% to 8% range, and adjusted operating income growth in the 8% to 10% range. Adjusted operating margin is expected to be flat to up slightly in the low single-digit basis points range. Free cash flow is expected to be in the range of $1.4 billion to $1.7 billion, with capital expenditures in the $300 million range for the full year. In addition, AmerisourceBergen expects to spend approximately $400 million in share repurchases under its regular repurchase program, and $400 million under its special repurchase program, subject to market conditions.
 

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Cardinal Health reports $24.1 billion in Q1 revenue, names new CFO and CEO Pharmaceutical segment

BY Michael Johnsen

DUBLIN, Ohio — Cardinal Health on Thursday reported fiscal year 2015 first-quarter revenue of $24.1 billion, representing a 2% decline from the year-ago period, in large part due to the expiration of the Walgreens contract in the prioryear first quarter. The decline was partially offset by growth from new and existing customers as well as continued strong growth in China. 
 
"Fiscal year 2015 is off to a good start. Our organization has committed itself to anticipating and acting on the evolving needs of a fast-changing market," stated George Barrett, chairman and CEO Cardinal Health. "Both segments reported solid earnings growth and progress on all strategic fronts. Our pharmaceutical segment continued its momentum, and we are excited about the potential from Red Oak Sourcing, our generic sourcing joint venture with CVS Health. The medical segment continued its growth with strategic accounts and our direct-to-customer platforms, now rebranded as Cardinal Health at Home. Our physician preference item program addresses significant health system pain points and now spans orthopedics, interventional cardiology and wound management."
 
Revenue for the pharmaceutical segment declined 3% to $21.2 billion. However, segment profit increased 4% to $451 million driven by growth from new and existing customers, as well as strong performance from generic programs. 
 
Revenue for the medical segment was up 5% to $2.9 billion, driven by strong performance from acquisitions and the positive net impact of customer volume. Segment profit increased 6% to $113 million due to growth in Cardinal Health-branded products, as well as select service offerings partially offset by a reduction in contribution from national brand products. 
 
In addition, Cardinal Health named Michael Kaufmann as CFO and Jon Giacomin to the role of CEO of the Pharmaceutical segment, currently held by Mike Kaufmann, with both positions to be effective on Nov. 11. 
 

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Comfoor introduces hearing protection solution

BY DSN STAFF

NETHERLANDS — Comfoor announced the introduction of Pluggerz, which are earplugs containing anti-allergic silicon material. Pluggerz features:
 
  • Three layers and anti-allergic silicon material;
  • Can be used over a 100 times;
  • Each type has a unique filter;
  • Includes a pouch for storage;
  • Pluggerz Sleep has a soft grip, ideal for those who sleep on their side; and 
  • Pluggerz is CE and ANSI certified and tested according to EN 352-2 and US E.P.A. regulations.
Visit Pluggerz.com for more information.
 
 
The company just entered the United States market this year, and the products offer a durabale, more comfortable product compared to similar products, the company said.
 

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