VALLEY FORGE, Pa.--(BUSINESS WIRE)--Jan. 27, 2005--PharMerica,
Inc., a subsidiary of AmerisourceBergen Corporation (NYSE:ABC), today
announced that a tentative settlement was reached in the Helbig, et.
al. vs. Interstate Pharmacy Corporation (IPC), et. al. class action
suit pending in Hawaii state court. The settlement cannot become final
until the court approves the agreed-upon terms.
Under the terms of the settlement, PharMerica will pay $2 million
to a fund for class action members and $1.2 million to the University
of Hawaii for programs benefiting senior citizens. Any unclaimed
monies in the fund established for the class action members also will
be distributed to the University of Hawaii for this purpose.
The allegations in the class action suit alleged that prior to
February 2000, PharMerica's IPC pharmacy in Hawaii accepted returned
medications and reissued them for other patients in violation of
Hawaii law. There were no allegations of physical harm to any patient.
Since that time, the law in Hawaii has been changed to permit the use
of returned medications under certain conditions.
PharMerica, one of the nation's leading pharmacy providers to the
long-term care setting, supplies medication and related services to
more than 220,000 nursing home residents in 37 states.
About AmerisourceBergen
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.
FORWARD-LOOKING STATEMENTS
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 2004.
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
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation