About Abcam PLC

Cencora, Inc. operates as a global pharmaceutical sourcing and distribution services company. The company helps both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. The company delivers programs and services designed to increase the effectiveness and efficiency of the pharmaceutical supply chain in both human and animal health. More specifically, it distributes a comprehensive offering of brand-name, specialty brand-name, and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to a wide variety of healthcare providers located in the United States and select global markets, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, physician practices, medical and dialysis clinics, veterinarians, and other customers. Additionally, the company furnishes healthcare providers and pharmaceutical manufacturers with an assortment of related services, including data analytics, outcomes research, reimbursement and pharmaceutical consulting services (including regulatory affairs, development consulting and scientific affairs, pharmacovigilance, and quality management and compliance) niche premium logistics services, inventory management, pharmacy automation, pharmacy management, and packaging solutions. The company serves its customers (healthcare providers and pharmaceutical and biotech manufacturers) through a geographically diverse network of distribution service centers and other operations in the United States and select global markets. In its pharmaceutical distribution businesses, the company is typically the primary supplier of pharmaceutical and related products to its healthcare provider customers. The company offers a broad range of services to its customers designed to enhance the efficiency and effectiveness of their operations, which allow them to improve the delivery of healthcare to patients in the pharmaceutical supply chain. Segments The company operates through two segments, U.S. Healthcare Solutions and International Healthcare Solutions. U.S. Healthcare Solutions The U.S. Healthcare Solutions segment distributes a comprehensive offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers. The U.S. Healthcare Solutions segment also provides pharmaceutical distribution (including plasma and other blood products, injectable pharmaceuticals, vaccines, and other specialty pharmaceutical products) and additional services to physicians who specialize in a variety of disease states, especially oncology, and to other healthcare providers, including hospitals and dialysis clinics. Additionally, this segment provides data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers. The U.S. Healthcare Solutions segment also provides pharmacy management, staffing and additional consulting services, and supply management software to a variety of retail and institutional healthcare providers. It also provides a full suite of integrated manufacturer services that ranges from clinical trial support to product post-approval and commercialization support. Additionally, it delivers packaging solutions to institutional and retail healthcare providers. Through its animal health business, the U.S. Healthcare Solutions segment sells pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and various other products to customers in both the companion animal and production animal markets. It also offers demand-creating sales force services to manufacturers. International Healthcare Solutions The International Healthcare Solutions segment consists of businesses that focus on international pharmaceutical wholesale and related service operations and global commercialization services. The International Healthcare Solutions reportable segment distributes pharmaceuticals, other healthcare products, and related services to healthcare providers, including pharmacies, doctors, health centers and hospitals primarily in Europe. It is a leading global specialty transportation and logistics provider for the biopharmaceutical industry. It also is a leading provider of specialized services, including regulatory affairs, development consulting and scientific affairs, pharmacovigilance, and quality management and compliance, for the life sciences industry. In Canada, the business drives innovative partnerships with manufacturers, providers, and pharmacies to improve product access and efficiency throughout the healthcare supply chain. Strategy The company's business strategy focuses on the global pharmaceutical supply chain where it provides distribution and value-added services to healthcare providers (primarily pharmacies, health systems, medical and dialysis clinics, physicians, and veterinarians) and pharmaceutical manufacturers to improve channel efficiencies and support positive patient outcomes. The company's strategy is one of driving executional excellence in its core distribution solutions business in the U.S. and Internationally, while also investing in higher margin, high growth adjacencies, where it provides solutions to pharmaceutical manufacturers to support the clinical development and commercialization of their therapies and support providers in driving efficiency and effectiveness of their operations. The key elements of the company's business strategy include optimizing and growing the U.S. healthcare solutions businesses; optimizing and growing its international healthcare solutions businesses; acquisitions and investments; and divestitures. Sales and Marketing U.S. Healthcare Solutions has support professionals focused on its various technologies and service offerings. U.S. Healthcare Solutions' sales teams also serve national account customers through close coordination with local distribution centers and ensure that the company's customers are receiving service offerings that meet their needs. The company's International Healthcare Solutions' businesses each have independent sales forces that specialize in their respective product and service offerings. In addition, it has an enterprise-wide marketing team that coordinates branding and all other marketing activities across the company. Customers The company has a diverse customer base that includes institutional and retail healthcare providers, as well as pharmaceutical manufacturers. Institutional healthcare providers include acute care hospitals, health systems, mail order pharmacies, long-term care, and other alternate care pharmacies, and providers of pharmacy services to such facilities, physicians, and physician group practices. Retail healthcare providers include national and regional retail drugstore chains, independent community pharmacies, pharmacy departments of supermarkets and mass merchandisers, and veterinarians. The company is typically the primary source of supply for its healthcare provider customers. Its manufacturer customers include branded, generic, and biotechnology manufacturers of prescription pharmaceuticals, as well as over-the-counter product and health and beauty aid manufacturers. In addition, the company offers a broad range of value-added solutions designed to enhance the operating efficiencies and competitive positions of its customers, thereby allowing them to improve the delivery of healthcare to patients and consumers. The company's two largest customers, Walgreens Boots Alliance, Inc. (WBA) and Express Scripts, Inc. (Express Scripts), accounted for approximately 26% and approximately 14%, respectively, of revenue in the year ended September 30, 2023. The company's top 10 customers, including governmental agencies and group purchasing organizations (GPO), represented approximately 66% of revenue in the year ended September 30, 2023. Competition The company's largest competitors are McKesson Corporation (McKesson), Cardinal Health, Inc. (Cardinal), and UPS Logistics, among others. Its U.S. human health distribution businesses compete with both McKesson and Cardinal. Government Regulations The company and its customers are subject to fraud and abuse laws, including the federal anti-kickback statute and False Claims Act. History The company was incorporated in 2001. It was formerly known as AmerisourceBergen Corporation and changed its name to Cencora, Inc. in August 2023.