AmerisourceBergen Will Protest the Award of the Department of Veterans Affairs Pharmaceutical Distribution Contract
VALLEY FORGE, Pa.--(BUSINESS WIRE)--Jan. 20, 2004--
Company Will Seek Injunction and Reversal of Award In The United States Court of Federal Claims
AmerisourceBergen Corporation (NYSE:ABC) today announced that tomorrow, January 21, 2004, its wholly owned subsidiary, AmerisourceBergen Drug Corporation, will file a complaint with the United States Court of Federal Claims asking that the recent award of the Department of Veterans Affairs (VA) Pharmaceutical Prime Vendor contract be overturned and instead awarded, in whole or in part, to AmerisourceBergen. The Company also will request a temporary restraining order on implementing the contract until its claims are decided. AmerisourceBergen anticipates that the protest could take as long as three to 12 months to resolve.
In its complaint, the Company asserts that the VA made improper evaluations and determinations in its review of the AmerisourceBergen proposal.
AmerisourceBergen (NYSE:ABC) is the largest pharmaceutical services company in the United States dedicated solely to the pharmaceutical supply chain. It is the leading distributor of pharmaceutical products and services to the hospital market, physician's offices, alternate care and mail order facilities, and independent and chain pharmacies. The Company is also a leader in the long term care pharmacy marketplace, the workers' compensation fulfillment business and contract packaging for manufacturers. With more than $45 billion in annualized operating revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 14,000 people. AmerisourceBergen is ranked #24 on the Fortune 500 list and was ranked #6 in the 2003 Business Week 50, a list of the 50 best performing companies in the S & P 500. 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 future financial and operating results of AmerisourceBergen and the benefits and other aspects of the 2001 merger between AmeriSource Health Corporation and Bergen Brunswig Corporation.
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; regulatory changes; changes in U.S. government policies; failure to integrate the businesses of AmeriSource and Bergen Brunswig successfully; failure to obtain and retain expected synergies from the merger of AmeriSource and Bergen Brunswig; 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 Michael N. Kilpatric, 610-727-7118 firstname.lastname@example.org SOURCE: AmerisourceBergen Corporation