VALLEY FORGE, Pa., Aug 11, 2011 (BUSINESS WIRE) --
The Board of Directors of AmerisourceBergen Corporation (NYSE: ABC)
today authorized a new $750 million share repurchase program, effective
immediately. AmerisourceBergen expects to use the new program to
repurchase its outstanding shares of common stock, subject to market
conditions. The Company recently completed its prior $500 million
program which was authorized by the Board of Directors on September 23,
2010. To date in fiscal year 2011, which ends September 30, 2011, the
Company has spent $598 million to repurchase its outstanding shares of
common stock.
"The new share repurchase program and the $598 million repurchase of
common stock so far in fiscal 2011 demonstrate our continued commitment
to delivering long-term shareholder value," said Steven H. Collis,
AmerisourceBergen President & Chief Executive Officer.
In addition, the Board of Directors declared a cash dividend of $0.115
per share on Common Stock, payable September 6, 2011, to stockholders of
record at the close of business on August 22, 2011.
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 267 million common shares outstanding.
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
pharmacy automation and pharmaceutical packaging to reimbursement and
pharmaceutical consulting services. With $80 billion in annualized
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 10,000 people. AmerisourceBergen is ranked #27 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; quitam 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 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 and our corporate
functions 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, 2010 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