We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Centene (CNC) to Purchase Specialty Pharmacy PANTHERx Rare
Read MoreHide Full Article
Centene Corporation (CNC - Free Report) inked a deal to acquire specialty pharmacy PANTHERx Rare to serve the underserved group. Subject to closing conditions, the transaction is expected to close by the end of this year. However, terms of the deal were kept under wraps.
The to-be-acquired entity is one of the fastest-growing private companies in the Pittsburgh region. PANTHERx caters to people with complicated and rare diseases. In 2019, it delivered revenues worth $1.18 billion, which is pretty impressive.
Rationale Behind the Deal
This is a great step for Centene, which was looking for solidifying its foothold in the booming specialty drug market. Notably, specialty medications are a major driver of increased drug spending.
The deal is in line with the company’s commitment to offering medical care to underserved communities and patients with complicated conditions. The leading health insurer will be able to gain traction from PANTHERx’s experience and capabilities. This is expected to result in better health outcomes of individuals with complex cases.
PANTHERx caters to patients with serious, rare conditions such as cancer, haemophilia, infantile spasms, narcolepsy or HIV/AIDS, etc. Post closure of the deal, PANTHERx and its management team will keep operating independently as part of Centene's Envolve Pharmacy Solutions, a drug management program.
Last week, the company closed another buyout of Apixio, which is an analytics firm. Like Pantherx, Apixio is also remaining an independent entity inside a Centene business.
In July, Centene also purchased additional stakes in Ribera Salud, expanding its interest to 90% in the acquired entity. This clearly shows the company’s constant efforts in strengthening its portfolio. The acquisitions and partnerships should bolster the company’s operations, aiding long-term growth.
Leading health insurers, such as Humana Inc. (HUM - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) have bought speciality pharmacies over the past few years to boost their respective portfolios.
Its peer Molina Healthcare, Inc. (MOH - Free Report) has surged 54% in the same time frame.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Centene (CNC) to Purchase Specialty Pharmacy PANTHERx Rare
Centene Corporation (CNC - Free Report) inked a deal to acquire specialty pharmacy PANTHERx Rare to serve the underserved group. Subject to closing conditions, the transaction is expected to close by the end of this year. However, terms of the deal were kept under wraps.
The to-be-acquired entity is one of the fastest-growing private companies in the Pittsburgh region. PANTHERx caters to people with complicated and rare diseases. In 2019, it delivered revenues worth $1.18 billion, which is pretty impressive.
Rationale Behind the Deal
This is a great step for Centene, which was looking for solidifying its foothold in the booming specialty drug market. Notably, specialty medications are a major driver of increased drug spending.
The deal is in line with the company’s commitment to offering medical care to underserved communities and patients with complicated conditions. The leading health insurer will be able to gain traction from PANTHERx’s experience and capabilities. This is expected to result in better health outcomes of individuals with complex cases.
PANTHERx caters to patients with serious, rare conditions such as cancer, haemophilia, infantile spasms, narcolepsy or HIV/AIDS, etc. Post closure of the deal, PANTHERx and its management team will keep operating independently as part of Centene's Envolve Pharmacy Solutions, a drug management program.
Last week, the company closed another buyout of Apixio, which is an analytics firm. Like Pantherx, Apixio is also remaining an independent entity inside a Centene business.
In July, Centene also purchased additional stakes in Ribera Salud, expanding its interest to 90% in the acquired entity. This clearly shows the company’s constant efforts in strengthening its portfolio. The acquisitions and partnerships should bolster the company’s operations, aiding long-term growth.
Leading health insurers, such as Humana Inc. (HUM - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) have bought speciality pharmacies over the past few years to boost their respective portfolios.
Shares of this currently Zacks Rank #4 (Sell) company have gained 2.4% in the past year, underperforming its industry’s growth of 7.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Its peer Molina Healthcare, Inc. (MOH - Free Report) has surged 54% in the same time frame.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>