Pharmaceutical Business Sale Means Sharon Hill Plant Closing, 35 Jobs Eliminated

Image via Mapquest.

Acro Pharmaceutical Services is eliminating 35 positions in Delaware County next month as a result of the closure of its plant in Sharon Hill, writes John George for Philadelphia Business Journal.

Earlier this month, Acro’s parent organization, Premier of Charlotte, N.C., agreed to sell its specialty pharmacy business to a CVS Health subsidiary, ProCare Pharmacy, in a deal valued at $42.5 million. The price includes $20 million for existing inventory.

Premier’s specialty pharmacy business consisted of two subsidiaries, Acro Pharmaceutical Services and Commcare Pharmacy, that served 367 hospitals across 66 health systems.

Acro was founded in 2006, providing services related to limited distribution drugs used for the treatment of oncology, multiple sclerosis and respiratory disease.

In connection with the deal, Acro has transferred its patient prescriptions to CVS Pharmacy Specialty Services’ operation in Philadelphia.

The eliminated positions are 18 pharmacy technicians, six pharmacists, four accounting personnel, two sales representatives and five “other staff.”  Separation date for all of the affected employees is July 31.

The company also stated “select” employees, outside the 35 noted in the filing, may be retained in connection with transitioning business operations, and those employees were provided with separate notices.

Read more about the closing here.

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