AmerisourceBergen Will Continue to Service VA for 45 Days
VALLEY FORGE, Pa.--(BUSINESS WIRE)--March 25, 2004--
AmerisourceBergen Corporation (NYSE:ABC) announced that the U.S.
Court of Federal Claims today issued a ruling rejecting the protest
filed by the Company's wholly owned subsidiary, AmerisourceBergen Drug
Corporation, concerning the recent award of the Department of Veterans
Affairs (VA) Pharmaceutical Prime Vendor Contract to McKesson
Corporation.
Under the Court's previously issued consent order,
AmerisourceBergen Drug Corporation will continue to service the VA for
a transition period of 45 days from today. Further, beginning April 1,
2004 the Drug Corporation will service the VA account using McKesson's
new contract price. At the end of the 45-day period, McKesson will
begin servicing the VA's entire Pharmaceutical Prime Vendor contract.
On January 21, 2004, the Company filed a complaint with Court of
Federal Claims asking that the award of the VA's Pharmaceutical Prime
Vendor contract to McKesson be overturned and instead awarded, in
whole or in part, to AmerisourceBergen. In its complaint, the Company
asserted that the VA made improper evaluations and determinations
concerning the offers it received for the new contract.
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 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.
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 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
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation