Cencora, Inc. (COR) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Cencora, Inc. surfaced in its latest filing.

• WBA was acquired by Sycamore Partners on August 28, 2025August 28, 2025
• U.S. distribution agreement with Walgreens expires in 20292029
• Generics purchasing services arrangement with WBAD expires in 20292029
• International distribution agreement with Boots expires in 20312031
• WBA’s October 2024 plan to close approximately 1,200 U.S. retail stores over three yearsOctober 2024
• Invested $718.4 million (34.9% interest) in a joint venture to acquire OneOncology with TPG Inc. in June 2023June 2023
• Acquired RCA, a leading management services organization of retina specialists, on January 2, 2025January 2, 2025
• Previously disclosed cybersecurity incidents in February 2024 and March 2023
• Executive Order 14297 seeks to reduce prescription drug costs by requiring manufacturers to sell certain drugs in the U.S. at no higher than the lowest prices in other developed countries
• Proposed rule for 'Global Benchmark for Efficient Drug Pricing (GLOBE) Model' received by OMB on September 25, 2025September 25, 2025
• Proposed rule for 'Guarding U.S. Medicare Against Rising Drug Costs (GUARD) Model' received by OMB on October 2, 2025October 2, 2025
• FDA proposed rule on February 4, 2022 to establish national standards for licensure of wholesale drug distributors and third-party logistics providersFebruary 4, 2022
• EU Health Technology Assessment Regulation 2021/2282 became applicable on January 12, 2025January 12, 2025
• Current federal ACA premium subsidies set to expire at the end of 20252025
• Removal of ceiling on manufacturer Medicaid rebate amounts effective January 1, 2024January 1, 2024
• Inflation Reduction Act includes federal price negotiation of maximum fair prices for selected high-expenditure drugs under Medicare Parts D and B starting in 2026 for Part D and 2028 for Part B
• CMS proposed mechanism for maximum fair price compliance with manufacturers required to choose methodology by December 2, 2025 for implementation starting January 1, 2026December 2, 2025
• OBBBA enacted in July 2025July 2025
• CMS finalized retrospective refund rule in November 2023 providing lump-sum refund payments to 340B hospitals and reducing Medicare payments to all hospitals for other outpatient services by 0.5% for CY2026-2040November 2023
• CMS proposed rule in July 2025 to accelerate recapture of 340B refund amounts by increasing payment reduction to 2.0% and proposing new surveyJuly 2025
• CMS finalized rule in October 2025 tightening standards for bona fide service fee exemptionsOctober 2025
• U.S. federal government announced on August 1, 2025 consideration of limited 340B rebate model for drugs subject to negotiated Medicare prices beginning in 2026August 1, 2025
• Distributor Settlement Agreement became effective on April 2, 2022, with 48 of 49 eligible states and 99% of political subdivisions by populationApril 2, 2022
• Accrued litigation liability related to Distributor Settlement Agreement and other opioid-related settlements is $4.3 billion as of September 30, 2025, payable over 13 yearsSeptember 30, 2025
• Estimated $416.0 million opioid settlement payments prior to September 30, 2026September 30, 2026
• Full impairment of remaining goodwill of $723.9 million in PharmaLex reporting unit in fiscal 20252025