Thu, May 21, 7:32 AM
- CVS Health (NYSE:CVS) confirms it will acquire Omnicare (NYSE:OCR) for $98 per share in a deal valued at $12.7B.
- The transaction is expected to close near the end of the year.
- The company sees the purchase adding $0.20 to EPS in 2016
- Previously: Bloomberg: CVS in advanced talks to buy Omnicare
- OCR +1.39% premarket to $95.95.
- CVS +1.77% premarket to $103.06.
Wed, May 20, 6:15 PM
- CVS is in advanced talks to buy nursing home pharmacy owner Omnicare (NYSE:OCR) and could reach a deal as soon as this week, sources tell Bloomberg.
- Omnicare hired advisors to find a buyer earlier this year. In April, Bloomberg reported CVS was one of several interested parties.
- OCR +5.7% AH to $100.00. CVS +0.5% to $101.80.
Thu, Apr. 30, 4:08 PM
- According to Bloomberg, the list of firms that have indicated an interest in Omnicare (NYSE:OCR) include Express Scripts (NASDAQ:ESRX), CVS Health (NYSE:CVS), Walgreens Boots Alliance (NASDAQ:WBA) and McKesson (NYSE:MCK). Initial bids for the $8.5B market cap firm are due in May.
- Previously: Omnicare reportedly exploring sale; trading halted (April 22)
- Previously: Omnicare buyer would need to pay $95/share - UBS (April 23)
Wed, Apr. 29, 8:15 AM
Tue, Apr. 28, 5:30 PM
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Tue, Apr. 28, 1:31 PM
- DaVita Healthcare Partners (DVA -0.2%) upgraded to Outperform with a $95 (14% upside) by Baird.
- St. Jude Medical (STJ +0.5%) upgraded to Outperform with a $84 (15% upside) price target by Credit Suisse.
- Omnicare (OCR -0.3%) downgraded to Sector Perform with a $82 (5% downside risk) price target by RBC Capital and to Neutral by Credit Suisse with a $91 (6% upside) price target.
Thu, Apr. 23, 7:41 AM
- UBS estimates a buyer would have to pay $95 to acquire Omnicare (NYSE:OCR).
- Firm thinks Walgreens (NASDAQ:WBA) or Rite Aid (NYSE:RAD) could be interested, but are unlikely to pay up due to limited synergies.
- OCR increased management comp. in the event of a change in control, a possible indicator the company may be sold.
- Previously: Omnicare reportedly exploring sale; trading halted (Apr. 22)
Wed, Apr. 22, 3:33 PM
- According to Bloomberg, Omnicare (OCR +7.4%) is reportedly working with financial advisors seeking a buyer. Company representatives have declined to comment. Trading halted.
- Consensus Q1 view is EPS of $1.01 on revenues of $1.6B.
- The company is currently embroiled in a lawsuit filed by the U.S. Department of Justice over alleged kickbacks from Abbott Labs (ABT +2.4%) in exchange for purchasing the dementia drug Depakote.
- Previously: DOJ sues Omnicare over alleged dementia drug kickbacks (Dec. 22, 2014)
Wed, Feb. 25, 11:54 AM| Comment!
Wed, Feb. 25, 9:05 AM
Tue, Feb. 24, 5:30 PM
Dec. 22, 2014, 6:58 PM
- The DOJ has filed a False Claims Act complaint against Omnicare (NYSE:OCR), alleging the healthcare services firm "solicited and received millions of dollars in kickbacks" from drug giant Abbott Labs (NYSE:ABT) in exchange for "purchasing and recommending the prescription drug Depakote for controlling behavioral disturbances exhibited by dementia patients residing in nursing homes serviced by Omnicare."
- The complaint states Omnicare's pharmacists "reviewed nursing home patients’ charts at least monthly and made recommendations to physicians on what drugs should be prescribed for those patients," and that the company "touted its influence over physicians in nursing homes in order to secure kickbacks from pharmaceutical companies such as Abbott."
- OCR -0.8% AH.
Nov. 24, 2014, 11:41 AM
- Institutional pharmacy Omnicare (OCR -3%) signs a new five-year agreement with McKesson (MCK +1.8%) covering the sourcing and distribution of branded, specialty and generic pharmaceuticals. The new contract, which builds on their ten-year partnership, adds generic drugs as part of McKesson's OneStop program.
Oct. 24, 2014, 5:37 PM
Oct. 24, 2014, 8:15 AM
Oct. 23, 2014, 5:30 PM
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