Pharmaceutical wholesaler AmerisourceBergen Corp. said today that it has purchased Innomar Strategies Inc., a Canadian specialty pharmaceutical services company, for about $15 million Canadian dollars, or $13.8 million U.S. cash.
Innomar, based in Toronto, provides services to Canadian drug and biotechnology companies including consulting, logistics, patient assistance, nursing and clinical research.
"With Innomar Strategies and our current AmerisourceBergen Specialty Group, Canada, we believe AmerisourceBergen now has the largest and broadest commercialization service offerings to pharmaceutical and biotechnology manufacturers in Canada," said R. David Yost, AmerisourceBergen president and chief executive.
"This acquisition continues our strategy of acquiring companies within our pharmaceutical distribution and related services focus," Yost said.
Innomar has about 200 employees and revenue of less than $100 million in 2008.
AmerisourceBergen, one of the nation's largest drug distributors, employs 10,000, including 1,000 at its headquarters in Valley Forge and at distribution plants in Thorofare (Gloucester County) and in Bethlehem.
The company, formed from the merger of AmeriSource Health Corp. and Bergen Brunswig Corp., has more than $70 billion in annual revenue and since 2001 has acquired 24 smaller companies.
Shares were up 12 cents, or 0.32 percent, to $37.77 in afternoon trading on the New York Stock Exchange.