AmerisourceBergen, the pharmaceutical manufacturing and services firm, has retired its lengthy and concatenated name after 22 years, offering a welcome relief to pharma journalists. The conglomerate’s name originated from the 2001 merger of AmeriSource Health Corporation and Bergen Brunswig Corporation, similar to GlaxoSmithKline’s amalgamation following the Glaxo Wellcome and SmithKline Beecham merger in 2000.
Drawing inspiration from GlaxoSmithKline’s recent transformation to GSK, AmerisourceBergen has now officially embraced the name Cencora, a change initially announced earlier this year. The company has begun trading under the fresh ticker symbol “COR” on the New York Stock Exchange, uniting its extensive workforce of 46,000 personnel, encompassing its charitable arm and venture fund, under a singular and simplified brand.
In a press release, the company highlighted that the new name, Cencora, underscores its proficiency and foresight in connecting various stakeholders across the pharmaceutical spectrum, including manufacturers, providers, pharmacies, and patients. The objective is to ensure a consistent and reliable flow of treatments, particularly during a time marked by increasing intricacies within the industry.
Concurrently with this rebranding, the Cencora Impact Foundation, formerly known as the AmerisourceBergen Foundation, has undergone a name alteration. Additionally, the foundation has contributed $5 million in donations to nonprofit endeavors. Likewise, the corporate venture fund, previously AB Health Ventures, has seamlessly transitioned to Cencora Ventures.
Steven Collis, Chairman, President, and CEO of Cencora, expressed his enthusiasm for this transformative step, emphasizing the significance of the new name in reflecting the company’s core focus. He underscored the centrality of customers, patients, and team members in their operations. The name Cencora, according to Collis, encapsulates the company’s commitment to fostering healthier futures, acting as a reliable industry collaborator, promoting innovation, advocating for patient accessibility, and forging strategic alliances across the global pharmaceutical value chain.
This year, Cencora unveiled the Cell and Gene Therapy (CGT) Integration Hub, designed to expedite the exchange of real-time data in the realm of CGT. This initiative aims to accelerate development processes, ultimately facilitating the delivery of next-generation treatments to patients in need.
