AmerisourceBergen to Add $2.0 Billion Pharmaceutical Distribution Business"We are very excited about Bellco employees joining
AmerisourceBergen," said R. David Yost, AmerisourceBergen Chief
Executive Officer. "Bellco employees are very focused on customer
service, and we want all their customers to know that we expect to
maintain that tradition and will continue to operate Bellco's
distribution center in North Amityville, New York."
"We are extremely pleased that our company will continue to thrive
as part of the AmerisourceBergen organization," added Neal Goldstein,
Chief Executive Officer of Bellco Health. "Our customers will continue
to experience the high level of distribution services they are
accustomed to, and will now have access to AmerisourceBergen's robust
product and service offerings."
"For AmerisourceBergen," Yost continued, "Bellco is a great
strategic fit with our pharmaceutical distribution business not only
because of its strong position in the Metro New York City area, which
is the largest independent retail community pharmacy market in the
nation, but also because it brings a sophisticated generic
pharmaceuticals sales and marketing business. Also, Bellco's
nationwide sales of dialysis products and services complement our
specialty distribution businesses. It is a perfect example of our
acquisition strategy, which focuses on adding complementary companies
in the pharmaceutical supply channel."
Headquartered in North Amityville, New York, Bellco Health has
annualized revenues of approximately $2.0 billion and is a major
pharmaceutical distributor in New York City, where it primarily
services independent retail community pharmacies. Nationally, the
Company markets and sells generic pharmaceuticals to individual retail
pharmacies, and provides pharmaceutical products and services to
dialysis clinics.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is one of the world's largest
pharmaceutical services companies serving the United States, Canada
and selected global markets. 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
and pharmaceutical packaging to pharmacy services for skilled nursing
and assisted living facilities, reimbursement and pharmaceutical
consulting services, and physician education. With more than $61
billion in annual revenue, AmerisourceBergen is headquartered in
Valley Forge, PA, and employs more than 13,000 people.
AmerisourceBergen is ranked #27 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. 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 or supplier relationships; customer defaults or
insolvencies; changes in customer mix; supplier defaults or
insolvencies; changes in pharmaceutical manufacturers' pricing and
distribution policies or practices; adverse resolution of any contract
or other disputes with customers (including departments and agencies
of the U.S. Government) or suppliers; regulatory changes (including
increased government regulation of the pharmaceutical supply channel);
changes in U.S. government policies (including reimbursement changes
arising from federal legislation, including the Medicare Modernization
Act and the Deficit Reduction Act of 2005); price inflation in branded
pharmaceuticals and price deflation in generics; declines in the
amounts of market share rebates offered by pharmaceutical
manufacturers to the PharMerica Long-Term Care business, declines in
the amounts of rebates that the PharMerica Long-Term Care business can
retain, and/or the inability of the business to offset the rebate
reductions that have already occurred or any rebate reductions that
may occur in the future; any disruption to or other adverse effects
upon the PharMerica Long-Term Care business caused by the announcement
of the Company's agreement to combine the PharMerica Long-Term Care
business with the institutional pharmacy business of Kindred
Healthcare, Inc. into a new public company that will be owned 50% by
the Company's shareholders (the "PharMerica LTC Transaction"); the
inability of the Company to successfully complete the PharMerica LTC
Transaction; fluctuations in market interest rates; operational or
control issues arising from the Company's outsourcing of information
technology activities; success of integration, restructuring or
systems initiatives; fluctuations in the U.S. dollar - Canadian dollar
exchange rate and other foreign exchange rates; economic, business,
competitive and/or regulatory developments in Canada, the United
Kingdom and elsewhere outside of the United States; acquisition of
businesses that do not perform as we expect or that are difficult for
us to integrate or control; changes in tax legislation or adverse
resolution of challenges to our tax positions; and other economic,
business, competitive, legal, tax, regulatory and/or operational
factors affecting the business of the Company generally. Certain
additional factors that management believes could cause actual
outcomes and results to differ materially from those described in
forward-looking statements are set forth (i) in Item 1A (Risk Factors)
in the Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2006 and elsewhere in that report and (ii) in other
reports filed by the Company pursuant to the Securities Exchange Act
of 1934.
SOURCE: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
or
Barbara Brungess, 610-727-7199
bbrungess@amerisourcebergen.com