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AmerisourceBergen is acquiring a competitor for $815 million. Photo: George Widman / AP

AmerisourceBergen said Monday it will acquire H.D. Smith, a smaller, independent drug wholesaler, for $815 million in cash. It would further consolidate the drug distribution industry, as AmerisourceBergen, McKesson and Cardinal Health control about 85% of the market.

Looking ahead: The Federal Trade Commission might scrutinize the deal closely, considering H.D. Smith is the second-largest drug wholesaler outside of the big three. AmerisourceBergen has struggled to hold a profit due to declining generic drug prices, and several cities and municipalities have accused the company and others of making the opioid epidemic worse by not properly monitoring where painkillers were going.

Go deeper

2 hours ago - Podcasts

Former Georgia Gov. Roy Barnes on the Senate runoffs

The future of U.S. politics, and all that flows from it, is in the hands of Georgia voters when they vote in two Senate runoffs on January 5.

Axios Re:Cap digs into the election dynamics with former Georgia Gov. Roy Barnes, a Democrat who served between 1999 and 2003.

2 hours ago - Health

Cuomo orders emergency hospital protocols as COVID capacity dwindles

Gov. Andrew Cuomo. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

New York Gov. Andrew Cuomo said on Monday that struggling state hospital systems must transfer patients to sites that are not nearing capacity, as rising coronavirus cases and hospitalizations strain medical resources.

Why it matters: New York does not expect to get the same kind of help from thousands of out-of-state doctors and nurses that it got this spring, Cuomo acknowledged, as most of the country battles skyrocketing COVID hospitalizations and infections.

Arizona certifies Biden's win

Photo: Demetrius Freeman/The Washington Post via Getty Images

Arizona officials certified the state's presidential election results on Monday, paving the way for President-elect Joe Biden to be awarded its 11 electoral votes.

Why it matters: The move deals yet another blow to President Trump's efforts to block or delay certification in key swing states that he lost. Biden beat the president in Arizona by more than 10,000 votes.