Diplomat Pharmacy Files Registration Statement for IPO of Up to $100 Mln

Diplomat Pharmacy filed a registration statement with the Securities and Exchange Commission indicating the specialty-pharmacy operator is planning an initial public offering of up to $100 million.

The company said the number of shares to be sold and the expected price range for the offering have yet to be determined. It also didn’t indicate which exchange it plans to apply to list the shares on, or what symbol it expects the shares to trade under.

Diplomat Pharmacy said it had $63 billion in sales in 2013, achieving a compounded annual growth rate of more than 65% since 2005, making it the fourth-largest overall specialty pharmacy in the U.S. The company noted it focuses on specialty drugs that are typically administered on a recurring basis to treat patients with complex chronic diseases that require specialized handling and administration as part of their distribution process.

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Jennifer McKinney, CFA, is an equity analyst for The Downtown Leader. If you have a great story idea for Jennifer McKinney, you can write at [Jennifer.McKinney@downtownleader.com ].

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