Amerisource buys Access MD for $13M

AmerisourceBergen Corp, the largest pharmaceutical services firm serving the USA, has acquired all of the outstanding stock of Access MD for approximately $12.9 million in cash. The latter is a Canada-based company providing services, including reimbursement support programs, third-party logistics and nursing support services, to manufacturers of specialty pharmaceuticals, such as injectable and biological therapies.

"AMD is a strategic acquisition that allows us to expand our specialty pharmaceutical services into the Canadian market, where we have a strong pharmaceutical distribution business," said Dave Yost, chief executive of AmerisourceBergen. "AMD's reputation for quality and service provides a firm foundation for AmerisourceBergen specialty group's entry into this new market." Based in Montreal, Access MD will provide an opportunity for manufacturers to coordinate and leverage patient access programs across the USA and Canada, he added.

The acquisition is expected to be immaterial to AmerisourceBergen's fiscal year 2007 earnings. On the day of the news, December 1, shares in the US company fell $0.26 to close at $45.73.