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AmerisourceBergen eyes $815 million buyout of H.D. Smith

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

Dave Lawler, author of World
18 mins ago - World

Oxford and AstraZeneca's vaccine won't just go to rich countries

Waiting, in New Delhi. Photo: Jewel Samad/AFP via Getty Images

While the 95% efficacy rates for the Moderna and Pfizer/BioNTech vaccines are great news for the U.S. and Europe, Monday's announcement from Oxford and AstraZeneca may be far more significant for the rest of the world.

Why it matters: Oxford and AstraZeneca plan to distribute their vaccine at cost (around $3-4 per dose), and have already committed to providing over 1 billion doses to the developing world. The price tags are higher for the Pfizer ($20) and Moderna ($32-37) vaccines.

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Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Vaccines: Here's key information about the effective COVID-19 vaccines — Oxford University's 90%-effective vaccine — New deals in the COVID economy.
  2. Health: U.S. coronavirus hospitalizations keep breaking records — Why we're numb to 250,000 coronavirus deaths — Americans line up for testing ahead of Thanksgiving.
  3. Travel: Air travel's COVID-created future — Over 1 million U.S. travelers flew on Friday, despite calls to avoid holiday travel.
  4. Politics: California governor and family in quarantine — Sen. Kelly Loeffler to continue quarantine — Operation Warp Speed leader: COVID vaccine push is "isolated from a political environment."
  5. World: England to impose stricter regional system — U.S. coronavirus hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  6. Economy: The biggest pandemic labor market drags.
  7. Sports: Coronavirus precautions leave college basketball schedule in flux.
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Zachary Basu
1 hour ago - Politics & Policy

Biden transition names first Cabinet nominees

Biden with John Kerry. Photo: Justin Sullivan/Getty Images

President-elect Joe Biden on Monday unveiled his nominations for top national security positions in his administration, tapping former Secretary of State John Kerry as his climate czar and former deputy national security adviser Avril Haines as director of national intelligence.

Why it matters: Haines, if confirmed, would make history as the first woman to oversee the U.S. intelligence community. Biden also plans to nominate Alejandro Mayorkas to become the first Latino secretary of the Department of Homeland Security.

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