AmerisourceBergen Sells Canada Unit, Lifts EPS Guidance

AmerisourceBergen has inked an agreement to divest its Canadian pharmaceutical distribution unit, AmerisourceBergen Canada. The buyer is Kohl & Frisch, a distributor based in that country, and the expected sale price is $80 million-$100 million.

Roughly half of the sale amount will be financed by AmerisourceBergen. Because of this, the company expects to book a loss on sale of $160 million-$180 million in the current quarter.

The firm has also adjusted its guidance for fiscal 2013. It now anticipates that revenue growth will come in at 8%-10% on a year-over-year basis for the period,. It also hiked its expectations for EPS, believing that figure will be $3.04-$3.14, an increase from its previous guidance of $2.96-$3.06.

The article AmerisourceBergen Sells Canada Unit, Lifts EPS Guidance originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in AmerisourceBergen. The Motley Fool has no position in AmerisourceBergen. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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