AmerisourceBergen and Publix Announce Distribution Agreement
04 February 2016 - 11:00PM
Business Wire
Relationship extends beyond traditional
distribution to include specialty pharmacy services and inventory
management solutions
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160204005405/en/
AmerisourceBergen CorporationLauren Moyer, 215-460-6981 –
Celllmoyer@amerisourcebergen.comorTierneyKate McDevitt,
215-790-4346kmcdevitt@tierneyagency.com
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