Relationship extends beyond traditional distribution to include
specialty pharmacy services and inventory management solutions
VALLEY FORGE, Pa. & LAKELAND, Fla.--(BUSINESS WIRE)--Feb. 4, 2016--
AmerisourceBergen Corporation (NYSE: ABC) and Publix today announced a
long-term agreement encompassing the distribution of branded, generic
and over-the-counter health and pharmaceutical products. The agreement
also enables Publix’s network of more than 980 pharmacy locations across
the southeast to expand patient access to specialty medications.
“Publix continues to push the boundaries of how our pharmacy business
operates in order to improve the experience and health outcomes we
create for our customers,” said Fred Ottolino, Publix Vice President of
Pharmacy. “With AmerisourceBergen we’ve found a partner who shares our
passion for patient care and who has the knowledge and capability we
need to execute our strategies.”
The agreement, which includes direct delivery to all Publix pharmacies
as well as warehouse and central fill facilities, extends beyond
traditional distribution and includes access to AmerisourceBergen’s
Cubixx® inventory management solution. This radio frequency
identification (RFID) enabled technology will be used by Publix to
facilitate the dispensing of a range of specialty medications in their
community pharmacies. Publix will also benefit from technological
solutions designed to support overall inventory efficiency and will have
access to consultative services from AmerisourceBergen as they continue
to evolve their specialty pharmacy services.
“Innovative pharmacy leaders are simplifying and improving the patient
experience of getting needed medications,” said Steven H. Collis,
President and Chief Executive Officer of AmerisourceBergen. “Publix is
doing just that and we are thrilled to have the solutions and expertise
in place to support their mission and to help them unlock additional
value in their pharmacy operation.”
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 in human and animal health. With over $135 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 18,000 people. AmerisourceBergen is ranked #16 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
About Publix
Publix is privately owned and operated by its 179,000 employees, with
2014 sales of $30.6 billion. Currently Publix has 1,114 stores in
Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.
The company has been named one of FORTUNE’s “100 Best Companies to Work
For in America” for 18 consecutive years. In addition, Publix’s
dedication to superior quality and customer service is recognized among
the top in the grocery business. For more information, visit the
company’s website, corporate.publix.com.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements contained in this 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: competition; industry
consolidation of both customers and suppliers resulting in increasing
pressure to reduce prices for our products and services; changes in
pharmaceutical market growth rates; price inflation in branded and
generic pharmaceuticals, and price deflation in generics; declining
economic conditions in the United States and abroad; financial market
volatility and disruption; substantial defaults in payment, material
reduction in purchases by or the loss, bankruptcy or insolvency of a
major customer; the loss, bankruptcy or insolvency of a major supplier;
changes to the customer or supplier mix; the retention of key customer
or supplier relationships under less favorable economics or the adverse
resolution of any contract or other dispute with customers or suppliers;
changes in any of the economic models used by any of our suppliers to
set pricing and/or other terms for the purchase of pharmaceuticals;
interest rate and foreign currency exchange rate fluctuations; the
disruption of AmerisourceBergen's cash flow and ability to return value
to its stockholders in accordance with its past practices; risks
associated with the strategic, long-term relationship between Walgreen
Boots Alliance, Inc. and AmerisourceBergen, including with respect to
the pharmaceutical distribution agreement and/or the global sourcing
arrangement; risks associated with the potential impact on
AmerisourceBergen's earnings per share resulting from the issuance of
the warrants to subsidiaries of Walgreen Boots Alliance, Inc. (the
“Warrants”); AmerisourceBergen's inability to fully implement its
hedging strategy to mitigate the potentially dilutive effect of the
issuance of its common stock in accordance with the Warrants under its
special share repurchase program due to its financial performance, the
current and future share price of its common stock, its expected cash
flows, competing priorities for capital, and overall market conditions;
changes in the United States healthcare and regulatory environment;
increasing governmental regulations regarding the pharmaceutical supply
channel and pharmaceutical compounding; 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; increased federal scrutiny and 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; material adverse resolution of pending legal proceedings;
declining reimbursement rates for pharmaceuticals; the acquisition of
businesses that do not perform as expected, or that are difficult to
integrate or control, including the integration of MWI and PharMEDium,
or the inability to capture all of the anticipated synergies related
thereto; managing foreign expansion, including non-compliance with the
U.S. Foreign Corrupt Practices Act, anti-bribery laws and economic
sanctions and import laws and regulations; malfunction, failure or
breach of sophisticated information systems to operate as designed;
risks generally associated with data privacy regulation and the
international transfer of personal data; changes in tax laws or
legislative initiatives that could adversely affect AmerisourceBergen's
tax positions and/or AmerisourceBergen's tax liabilities or adverse
resolution of challenges to AmerisourceBergen's tax positions; natural
disasters or other unexpected events that affect AmerisourceBergen's
operations; the impairment of goodwill or other intangible assets,
resulting in a charge to earnings; errors in the production, labeling or
packaging of products compounded by our compounded sterile preparations
(CSP) business; and other economic, business, competitive, legal, tax,
regulatory and/or operational factors affecting AmerisourceBergen's
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 in Item 1A (Risk
Factors) and Item 1 (Business) in AmerisourceBergen’s Annual Report on
Form 10-K for the fiscal year ended September 30, 2015 and elsewhere in
that report and (ii) in other reports filed or furnished with the
Securities and Exchange Commission (SEC). You are cautioned not to place
any undue reliance on any such forward-looking statements.
AmerisourceBergen’s SEC reports are available at www.amerisourcebergen.com
under the “Investors” tab. Except to the extent required by law,
AmerisourceBergen undertakes no obligation to publicly release the
result of any revisions to these forward looking statements to reflect
events or circumstances after the date hereof, or to reflect the
occurrence of unanticipated events.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204005405/en/
Source: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Lauren Moyer, 215-460-6981 – Cell
lmoyer@amerisourcebergen.com
or
Tierney
Kate
McDevitt, 215-790-4346
kmcdevitt@tierneyagency.com