Feb 5 (Reuters) - Drug distributor Cencora COR.N raised its fiscal 2025 profit forecast on Wednesday, driven by robust demand for expensive specialty medicines.
The Conshohocken, Pennsylvania-based company now expects its 2025 adjusted profit to range between $15.25 and $15.55 per share, up from the previous estimate of $15.15 to $15.45 per share.
Analysts, on average, were expecting a forecast of $15.28 per share, according to data compiled by LSEG.
Cencora beat first-quarter profit estimates due to strong sales in its U.S. healthcare solutions segment, which rose 13.6% to $74.0 billion, helped by increased sales of GLP-1 drugs and specialty medicines.
Growing U.S. demand for medicines treating complex conditions such as rheumatoid arthritis and cancer has encouraged Cencora and peers Cardinal Health CAH.N and McKesson MCK.N to expand into the high-margin sector.
Cencora recently completed its $4.6 billion takeover of Retina Consultants of America $(RCA)$, adding nearly 300 retina specialists who treat diseases such as macular degeneration and diabetic retinopathy.
In 2023, Cencora picked up a minority stake in OneOncology for around $685 million to gain access to a network of cancer specialists.
Peer Cardinal Health also raised its fiscal 2025 adjusted profit forecast as strong demand for costly specialty medicines and branded drugs drove sales at its pharmaceuticals unit.
On an adjusted basis, Cencora, formerly known as AmerisourceBergen, reported first-quarter profit of $3.73 per share, compared to analysts' estimates of $3.50 per share.
(Reporting by Sneha S K in Bengaluru; Editing by Tasim Zahid)
((Sneha.SK@thomsonreuters.com;))
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