Unfavorable pricing hurts operating income.
ABC's significant presence in the biologics and specialty pharmaceutical distribution market has also been a key sales driver over the five years to fiscal 2022 which can be attributed to the rapid growth of generic pharmaceuticals in the US market. However, the company's operating income has struggled during the second half of the current five-year period as a result of rising purchase costs. In fiscal 2021, unfavorable generic pharmaceutical pricing trends and unfavorable brand trends resulted in substantial loses, reaching more than 2.0% of industry-relevant revenue. However, in fiscal 2022 IBISWorld estimated operating income will increase 6.7% to $2.3 billion in fiscal 2022.
Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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