Cancer-practice support would expand to 12 more states under Cencora's planned acquisition

Cencora, Inc. (COR) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 CENCORA TO ACQUIRE AMERICAN ONCOLOGY NETWORK TO STRENGTHEN SUPPORT OF COMMUNITY ONCOLOGY Builds on Cencora’s MSO platform by adding complementary capabilities and expanding presence across twelve additional states CONSHOHOCKEN, PA & FORT MYERS, Fla., October 21, 2026

Cencora Inc. (NYSE:COR) will acquire American Oncology Network Inc. (OTCQX:AONC) for $2.4 billion, including $2.3 billion at closing and up to $100 million in contingent value rights. The deal will expand Cencora's oncology services platform. Cencora expects the acquisition to be accretive to earnings per share by the second year post-closing and updated its 2026 EPS guidance to at least $17.90. The transaction is subject to regulatory approvals and AON stockholder approvals.

Cencora (COR) agreed to acquire American Oncology Network for $2.4B EV, with $2.3B paid at closing and up to $100M in contingent value rights. Cencora expects to pay about $1.7B for 75% ownership if 25% equity is rolled. The deal is expected to be EPS accretive in year two, subject to approvals. According to Cencora, the acquisition aligns with its strategy to expand in oncology services.

Argus Research maintained a 'Buy' rating on Cencora (COR) and raised its price target to $380 from $340. The company's GF Value™ suggests it is 11.3% overvalued, with a GF Score™ of 70/100. Insider activity shows significant selling, totaling $4.69 million over the last three months. Cencora operates in pharmaceutical distribution with a market cap of $64.88 billion.

Argus raised its price target on Cencora Inc. (NYSE:COR) to $380, citing sustainable earnings growth and an attractive valuation. The company reported Q3 2026 adjusted earnings of $4.48 per share on $84.8 billion revenue, exceeding expectations. Cencora increased its full-year profit outlook despite some Walgreens volume moving away. RBC Capital maintained a Sector Perform rating with a $330 price target, noting growth in specialty pharma but lacking high-margin businesses.

Cencora (COR) reported Q3 revenue of $84.8B (+5.1%) and adjusted EPS of $4.48 (+12.0%). The company raised its full-year adjusted EPS outlook to $17.75-$17.95 and repurchased $1B in stock. Adjusted operating income rose 17.0%, driven by gross profit growth and the OneOncology acquisition. However, operating expenses increased 26.8%, and financing costs rose due to new debt. Lower-margin GLP-1 drugs and lost customers impacted revenue growth.