VALLEY FORGE, Pa.--(BUSINESS WIRE)--May. 10, 2012--
The Board of Directors of AmerisourceBergen Corporation (NYSE: ABC)
today authorized a new $750 million share repurchase program, effective
immediately. The Company has completed its previous $750 million share
repurchase program, which was authorized on August 11, 2011.
AmerisourceBergen expects to use the new program to repurchase its
outstanding shares of common stock, subject to market conditions. To
date in fiscal year 2012, which ends September 30, 2012, the Company has
spent $500.0 million to repurchase its outstanding shares of common
stock.
“Our $500 million in share repurchases during this fiscal year and our
new share repurchase program demonstrate our continued commitment to
delivering long-term shareholder value,” said Steven H. Collis,
AmerisourceBergen President & Chief Executive Officer.
AmerisourceBergen may repurchase its shares from time to time for cash
in open market transactions or by other means in accordance with
applicable federal securities laws. The Company currently has
approximately 250.8 million common shares outstanding, and had
previously said it expected to repurchase $500 million of its shares in
fiscal 2012.
In addition, the Board of Directors today declared a cash dividend of
$0.13 per share on Common Stock, payable June 4, 2012, to stockholders
of record at the close of business on May 21, 2012.
About AmerisourceBergen
AmerisourceBergen is one of the world's largest pharmaceutical services
companies serving the United States, Canada and selected global markets.
Servicing both healthcare providers and pharmaceutical manufacturers 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 niche
premium logistics and pharmaceutical packaging to reimbursement and
pharmaceutical consulting services. With more than $80 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 13,000 people. AmerisourceBergen is ranked #29 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
Forward-Looking Statements
Certain of the statements contained in this press release are
"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 change in circumstances. Among the
factors that could cause actual results to differ materially from those
projected, anticipated or implied are the following: changes in
pharmaceutical market growth rates; the loss of one or more key customer
or supplier relationships; changes in customer mix; customer
delinquencies, defaults or insolvencies; supplier defaults or
insolvencies; changes in pharmaceutical manufacturers' pricing and
distribution policies or practices; adverse resolution of any contract
or other dispute with customers or suppliers; federal and state
government enforcement initiatives to detect and prevent suspicious
orders of controlled substances and the diversion of controlled
substances; qui tam litigation for alleged violations of fraud
and abuse laws and regulations and/or any other laws and regulations
governing the marketing, sale and purchase of pharmaceutical products or
services and any related litigation, including shareholder derivative
lawsuits; changes in federal and state legislation or regulatory action
affecting pharmaceutical product pricing or reimbursement policies,
including under Medicaid and Medicare; changes in regulatory or clinical
medical guidelines and/or labeling for the pharmaceutical products we
distribute, including certain anemia products; price inflation in
branded pharmaceuticals and price deflation in generics; greater or less
than anticipated benefit from launches of the generic versions of
previously patented pharmaceutical products; significant breakdown or
interruption of our information technology systems; our inability to
continue to implement an enterprise resource planning (ERP) system to
handle business and financial processes and transactions (including
processes and transactions relating to our customers and suppliers) of
AmerisourceBergen Drug Corporation operations as intended without
functional problems, unanticipated delays and/or cost overruns; success
of integration, restructuring or systems initiatives; interest rate and
foreign currency exchange rate fluctuations; economic, business,
competitive and/or regulatory developments in Canada, the United Kingdom
and elsewhere outside of the United States, including changes and/or
potential changes in Canadian provincial legislation affecting
pharmaceutical product pricing or service fees or regulatory action by
provincial authorities in Canada to lower pharmaceutical product pricing
and service fees; the impact of divestitures or the acquisition of
businesses that do not perform as we expect or that are difficult for us
to integrate or control; our inability to successfully complete any
other transaction that we may wish to pursue from time to time; changes
in tax laws or legislative initiatives that could adversely affect our
tax positions and/or our tax liabilities or adverse resolution of
challenges to our tax positions; increased costs of maintaining, or
reductions in our ability to maintain, adequate liquidity and financing
sources; volatility and deterioration of the capital and credit markets;
and other economic, business, competitive, legal, tax, regulatory and/or
operational factors affecting our business 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, 2011 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
Barbara Brungess,
610-727-7199
bbrungess@amerisourcebergen.com