VALLEY FORGE, Pa., Dec 4, 2003 (BUSINESS WIRE) -- Company Reconfirms Diluted EPS Estimate for Fiscal 2004 of $4.50
Per Share to $4.60 Per Share, Excluding Special Items
AmerisourceBergen (NYSE:ABC), the largest pharmaceutical services
company in the United States dedicated solely to the pharmaceutical
supply chain, today held an investor meeting in New York City to give
an update on its future plans.
Speaking at today's meeting, the Company's Chief Executive Officer
R. David Yost said, "We expect to continue to grow AmerisourceBergen
by remaining focused on and enhancing our position in the
pharmaceutical supply channel. The fundamental growth drivers in the
industry, such as the expanding demand for pharmaceuticals and new
pharmaceutical product development, remain strong. Our simple,
two-part growth strategy is be "Best in Class" in pharmaceutical
distribution and "Best in Class" in value-added services to our
healthcare provider and manufacturer customers."
AmerisourceBergen's President and Chief Operating Officer, Kurt J.
Hilzinger addressed the Company's approach to disciplined growth,
saying, "We remain very disciplined in our selection of solutions and
services that drive market share, efficiency and/or patient care for
our provider and manufacturing customers. With open architecture
solutions we are providing customers with solutions that integrate
with existing investments and recognize how precious capital is in
healthcare. We provide total systems solutions as well as individual,
integrated solutions to address customer needs."
"Through our focus on the pharmaceutical channel, we continue to
expect to drive strong performance," said Michael D. DiCandilo,
AmerisourceBergen Senior Vice President and Chief Financial Officer.
"For the fiscal year 2004, we continue to expect to grow operating
revenue in line with the U.S. pharmaceutical market, which is expected
to be at the lower end of the four-year range of 10 percent to 13
percent. With our disciplined approach to revenue growth, we expect to
grow diluted earnings per share, excluding special items, for this
fiscal year at approximately 15 percent, within a range of $4.50 per
share to $4.60 per share.
"AmerisourceBergen's long-term guidance is to grow operating
revenue with the U.S. pharmaceutical market, which is currently
expected to grow 10 percent to 13 percent through 2007, and grow
annual earnings per share excluding special items at 15 percent or
greater."
Also speaking at the investor meeting were: Terrance Haas, Senior
Vice President Operations for the Company's Drug Distribution
business; Steven Collis, Senior Vice President and President of
AmerisourceBergen Specialty Group; William Shields, President of
PharMerica Long Term Care, the Company's institutional pharmacy
business; Duane Chudy, President of AutoMed, AmerisourceBergen's
pharmacy automation operations; and Edward Hancock, President of
AmerisourceBergen's Packaging Group.
A rebroadcast of today's investor meeting is available beginning
at 4:00 pm Eastern Time today on the Investor Relations page of the
Company's website, www.amerisourcebergen.com. The replay of the
webcast will be available for 30 days.
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 2002.
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.
SOURCE: AmerisourceBergen Corporation
AmerisourceBergen Corporation, Valley Forge
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisource.com