VALLEY FORGE, Pa.--(BUSINESS WIRE)--Feb. 9,
2005--AmerisourceBergen Corporation (NYSE:ABC), a leading
pharmaceutical services company, today announced that, as expected,
its Board of Directors has authorized the Company to purchase 5.7
million shares of its outstanding common stock subject to market
conditions. The number of shares is approximately equivalent to the
number of common stock shares issued in connection with the conversion
of the Company's 5 percent convertible subordinated notes, completed
January 3, 2005. The Company expects to complete the repurchase
program by the end of fiscal year 2005.
Under a separate $500 million repurchase program authorized by the
Board of Directors in August 2004, AmerisourceBergen has acquired, as
of December 31, 2004, 7.6 million shares of its common stock for a
total of $397.7 million. The Company expects to complete the remainder
of the $500 million program by the end of fiscal year 2005.
The Company will purchase the shares in both programs from time to
time for cash in open market transactions or by other means in
accordance with applicable federal securities laws. The Company will
hold any repurchased shares as treasury shares, which will be
available for general corporate purposes.
About AmerisourceBergen
AmerisourceBergen (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 and other risk 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