Amerisource’s Core Drug Wholesale Business Stabilizes, Ancillary Businesses Provide Mild Headwinds
Amerisource reported a solid quarter for its core pharmaceutical distribution business as pricing instability subsides and the firm leverages its recent infrastructure investments into greater distribution efficiency. We find these developments highly encouraging, and we are reiterating our wide moat rating and $106 fair value estimate for the drug wholesaler. Positively, management stated that it has “seamlessly†onboarded the new 600 stores Walgreens recently acquired from Rite Aid. From our p...
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