AmerisourceBergen New 10-Year Agreement Expands Availability of Flu Vaccine to U.S. Markets
VALLEY FORGE, Pa.--(BUSINESS WIRE)--Dec. 6, 2004--AmerisourceBergen Corporation (NYSE:ABC) today announced that its Specialty Group's ASD Healthcare unit has signed a ten-year agreement with ID Biomedical Corporation (TSX: IDB; NASDAQ: IDBE) to distribute influenza vaccine in the United States. The agreement includes a commitment to purchase at least 12 million doses per year of Fluviral, ID Biomedical's influenza vaccine, provided the Canadian company gains United States Food & Drug Administration (FDA) approval to produce the vaccine and the amount is available. Although pricing will vary annually, distributor acquisition costs currently are generally $7.00 to $8.00 a dose. ID Biomedical is the largest producer of influenza vaccine for the Canadian market.
"We are very excited about this agreement, because it helps to improve the availability of flu vaccine for our customers and their patients," said Steven Collis, Senior Vice President and President AmerisourceBergen Specialty Group. "Besides further diversifying the sources of this important vaccine, the agreement allows ASD Healthcare to expand its customer base in a market we expect to grow significantly over the next few years."
AmerisourceBergen Specialty Group currently distributes available flu vaccine to primarily hospitals and physician offices. The Group also will continue to access the flu vaccine from other manufacturer sources.
ID Biomedical expects Fluviral to be licensed in the U.S. by the 2007/2008 influenza season. However, if the FDA approves Fluviral on an accelerated basis, it could be available in the 2005/2006 and/or 2006/2007 flu seasons.
About ID Biomedical
ID Biomedical is an integrated biotechnology company dedicated to the development of innovative vaccine products. It operates in research, development, manufacturing, sales and marketing from its facilities in Canada and in the United States. ID Biomedical is dedicated to becoming a premier vaccine company with significant marketed products worldwide and an extensive pipeline in both clinical and preclinical development.
ID Biomedical has a leading position in the Canadian influenza market. It received a ten-year mandate from the Government of Canada in 2001 to assure a state of readiness in the case of an influenza pandemic and provide influenza vaccine for all Canadians in such an event. It also currently supplies approximately 75% of the Canadian government's influenza vaccine purchases.
For further information on ID Biomedical, please visit the Company's website at www.idbiomedical.com.
AmerisourceBergen(R) (NYSE:ABC) is one of the largest pharmaceutical services companies in the United States. Servicing both pharmaceutical manufacturers and healthcare providers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. AmerisourceBergen's service solutions range from pharmacy automation, bedside medication safety systems, and pharmaceutical packaging to pharmacy services for skilled nursing and assisted living facilities, reimbursement and pharmaceutical consulting services, and physician education. With more than $48 billion in operating revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 14,000 people. AmerisourceBergen is ranked #22 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
This news release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. Forward-looking statements may include statements addressing AmerisourceBergen's future financial and operating results.
The following factors, among others, could cause actual results to differ materially from those described in any forward-looking statements: competitive pressures; the loss of one or more key customer relationships; customer insolvencies; changes in customer mix; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; regulatory changes; changes in U.S. government policies (including changes in government policies pertaining to drug reimbursement); changes in market interest rates; and other economic, business, competitive, regulatory and/or operational factors affecting the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in AmerisourceBergen's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for fiscal 2003.
AmerisourceBergen is under no obligation to (and expressly disclaims any such obligation to) update or alter any forward looking statements whether as a result of new information, future events or otherwise.
CONTACT: AmerisourceBergen Corporation, Valley Forge Michael N. Kilpatric, 610-727-7118 email@example.com SOURCE: AmerisourceBergen Corporation