VALLEY FORGE, Pa.--(BUSINESS WIRE)--May 15, 2014--
AmerisourceBergen Corporation (NYSE: ABC) today announced that Gregory
D. Wasson, President and Chief Executive Officer of Walgreen Co.
(Walgreens) (NYSE, Nasdaq: WAG), has been elected to its Board of
Directors, effective immediately. The election of Mr. Wasson expanded
the Company’s Board of Directors to 11 members. Mr. Wasson has not been
appointed to serve on any committees of the Board.
Walgreens was entitled to designate a director to the AmerisourceBergen
Board of Directors as part of the strategic long-term relationship the
Company entered into with Walgreens and Alliance Boots GmbH in March of
2013. “We are very pleased to have Greg join the AmerisourceBergen Board
of Directors,” said Richard C. Gozon, Chairman of the Board of
AmerisourceBergen. “His extensive healthcare experience, strategic
vision, and commitment to working collaboratively to drive growth and
shareholder value for both AmerisourceBergen and Walgreens, will make
Greg a tremendous asset to the Board.”
“I am thrilled to have Greg join our Board of Directors,” added Steven
H. Collis, President and Chief Executive Officer of AmerisourceBergen.
“With his innovative insights, long-standing commitment to community
pharmacy, and demonstrated partnership philosophy, I am certain that
Greg will make valuable contributions to our Board.”
Mr. Wasson is currently the President and Chief Executive Officer of
Walgreens, and has served on the Walgreens board of directors since
2009. A graduate of Purdue University’s School of Pharmacy, Mr. Wasson
has served in a number of senior management and executive positions
throughout his 33-year career with Walgreens, including President and
Chief Operating Officer of Walgreens from May 2007 to February 2009,
Executive Vice President from October 2005 to May 2007, Senior Vice
President from February 2004 to October 2005 and Vice President from
October 2001 to February 2004. He was also President of Walgreens Health
Services from March 2002 to May 2007. Mr. Wasson has served as a
director of Alliance Boots GmbH since August 2012 and of Verizon
Communications, Inc. since March 2013.
About AmerisourceBergen
AmerisourceBergen is one of the largest global pharmaceutical sourcing
and distribution services companies, helping both healthcare providers
and pharmaceutical and biotech manufacturers improve patient access to
products and enhance patient care. With services ranging from drug
distribution and niche premium logistics to reimbursement and
pharmaceutical consulting services, AmerisourceBergen delivers
innovative programs and solutions across the pharmaceutical supply
channel. With over $100 billion in annualized revenue, AmerisourceBergen
is headquartered in Valley Forge, PA, and employs approximately 13,000
people. AmerisourceBergen is ranked #32 on the Fortune 500 list. For
more information, go to www.amerisourcebergen.com.
AmerisourceBergen's Cautionary Note Regarding Forward-Looking
Statements
Certain of the statements contained in this news 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. Words such as “expect,” “likely,” “outlook,” “forecast,” “would,”
“could,” “should,” “can,” “will,” “project," “intend,” “plan,”
“continue,” “sustain,” “synergy,” “on track,” “believe,” “seek,”
“estimate,” “anticipate,” “may,” “possible,” “assume,” variations of
such words, and similar expressions are intended to identify such
forward-looking statements. These statements are based on management’s
current expectations and are subject to uncertainty and change in
circumstances. These statements are not guarantees of future performance
and are based on assumptions that could prove incorrect or could cause
actual results to vary materially from those indicated. 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; the retention of key customer or supplier
relationships under less favorable economics; changes in customer mix;
customer delinquencies, defaults or insolvencies; supplier defaults or
insolvencies; changes in branded and/or generic 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, federal and state prosecution of alleged
violations of related laws and regulations, and any related litigation,
including shareholder derivative lawsuits or other disputes relating to
our distribution 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, purchase
and/or dispensing 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, and the effect of such changes on our
customers; changes in regulatory or clinical medical guidelines and/or
labeling for the pharmaceutical products we distribute; price inflation
in branded and generic 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 realize the anticipated benefits of the implementation of
an enterprise resource planning (ERP) system; interest rate and foreign
currency exchange rate fluctuations; risks associated with international
business operations, including non-compliance with the U.S. Foreign
Corrupt Practices Act, anti-bribery laws and economic sanctions and
import laws and regulations; economic, business, competitive and/or
regulatory developments in countries where we do business and/or operate
outside of the United States; risks associated with the strategic,
long-term relationship among Walgreen Co., Alliance Boots GmbH, and
AmerisourceBergen, the occurrence of any event, change or other
circumstance that could give rise to the termination, cross-termination
or modification of any of the transaction documents among the parties
(including, among others, the distribution agreement or the generics
agreement), an impact on our earnings per share resulting from the
issuance of the Warrants, an inability to realize anticipated benefits
(including benefits resulting from participation in the Walgreens Boots
Alliance Development GmbH joint venture), the disruption of
AmerisourceBergen’s cash flow and ability to return value to its
stockholders in accordance with its past practices, disruption of or
changes in vendor, payer and customer relationships and terms, and the
reduction of AmerisourceBergen’s operational, strategic or financial
flexibility; 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; natural disasters or
other unexpected events that affect our operations; 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) and Item 1 (Business) in the
Company’s Annual Report on Form 10-K for the fiscal year ended September
30, 2013 and elsewhere in that report and (ii) in other reports.
Source: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Barbara Brungess
Vice
President, Corporate & Investor Relations
610-727-7199
bbrungess@amerisourcebergen.com