Cencora falls after confirming loss of certain Walgreens business - COR News | RalliesCencora falls after confirming loss of certain Walgreens business
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COR• Shares fall after Walgreens volume loss confirmation
- Shares of drug distributor Cencora
COR.N fall 5.3% to $316.19
- Cencora says certain Walgreens prescription drug volumes that it previously serviced is longer being handled by the company as of July 1
- Walgreens is a significant chunk of COR revenue but at very low margins, says brokerage Leerink Partners
- "We believe that the totality of this business could represent around 3.0% to 3.5% of COR's enterprise per-share profit," adds Leerink
- Including session's move, stock down 5.5% YTD
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