VALLEY FORGE, Pa.--(BUSINESS WIRE)--Oct. 7,
2003--AmerisourceBergen Corporation (NYSE:ABC) today responded to a
Wall Street Journal story and set the record straight regarding a
number of allegations.
The Company said that it has not been contacted by the U.S.
Justice Department or any other government agency in reference to
anti-competitive behavior, pointing out that the headline accusing the
Company of fighting charges of "price fixing" was untrue and not
supported or discussed in the story. The article instead discusses a
credit management activity. The New York Credit and Financial
Management Association referenced to in the story provides a forum
where credit managers from a variety of industries can meet and
discuss credit issues under strict rules of conduct. Participants are
not allowed to discuss pricing, terms of sale or future credit actions
and a member of the Association is at each meeting to ensure these
items are not discussed. AmerisourceBergen participates in those
meetings like companies in many other industries. The case mentioned
in the story arose after the Company discontinued service to a
customer in January 2000. That customer is now serviced by another
national distributor.
The Hawaii case involved actions which took place in the late
1990s, was isolated to one pharmacy involving only a small number of
employees, and was resolved with new employees and policies in place
prior to the merger that created AmerisourceBergen in August 2001. The
Company has paid all fines due in the case, and at no time did the
investigators or plaintiffs question the integrity or safety of the
pharmaceuticals.
In the Kevin Fagan case the Company continues to work closely with
the Food and Drug Administration in its investigation as to the source
of the counterfeit Epogen and whether the product received by Mr.
Fagan passed through AmerisourceBergen. The Company was not the only
possible supplier of Epogen to the customer mentioned in the article.
The Company frequently works with the FDA and other federal and state
agencies on counterfeit, theft and other investigations.
In reference to a previously reported three-year-old investigation
in which a customer illegally resold merchandise bought from
AmerisourceBergen, the Company continues to have no additional
official contacts or requests for information since the spring of
2001.
In describing its procedures to protect the pharmaceutical supply
channel, the Journal was told but neglected to mention that Company
purchases less than 2 percent of its pharmaceuticals from the
secondary market and that more than 1,500 stock keeping units are
purchased only from the manufacturer including HIV drugs, Epogen,
Neupogen, Procrit and Lipitor and other pharmaceuticals that are most
likely to be counterfeited or diverted. The Company also shared with
the Journal that it met with the FDA several weeks ago and indicated
that it fully supports the FDA's proposed PDMA rule, which requires
manufacturer designation of authorized distributors and pedigrees in
the marketplace.
About AmerisourceBergen
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 systems/acute
care market, physician's offices, alternate care and mail order
facilities, independent community pharmacies, and regional chain
pharmacies. The Company is also a leader in the long term care
pharmacy and workers' compensation fulfillment marketplaces. With more
than $40 billion in annualized operating revenue, AmerisourceBergen is
headquartered in Valley Forge, PA, and employs more than 13,000
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.
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 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 2002.
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