Printer Friendly
The Free Library
19,595,263 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

AmerisourceBergen Acquires Pharmaceutical Contract Packaging Company in The United Kingdom.


VALLEY FORGE Valley Forge, on the Schuylkill River, SE Pa., NW of Philadelphia. There, during the American Revolution, the main camp of the Continental Army was established (Dec., 1777–June, 1778) under the command of Gen. George Washington. , Pa. -- AmerisourceBergen Corporation (NYSE NYSE

See: New York Stock Exchange
:ABC ABC
 in full American Broadcasting Co.

Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928.
) today announced the acquisition of Brecon Pharmaceuticals Limited, a privately-held, United Kingdom-based provider of contract packaging and clinical trial materials (CTM CTM Continuum (gaming)
CTM Community Trade Mark (Europe)
CTM Cisco Transport Manager
CTM Confederacion de Trabajadores de Mexico (Spanish: Confederation of Mexican Workers) 
) services for pharmaceutical manufacturers for approximately $49 million (approximately 28 million pounds) in cash. The acquisition also includes a contingent payment of up to approximately $19 million (approximately 11 million pounds) based on Brecon Pharmaceuticals achieving specific earnings targets in calendar year 2006. The purchase of Brecon is expected to be neutral to AmerisourceBergen's fiscal 2006 earnings.

"The addition of Brecon Pharmaceuticals enhances our contract packaging business and provides the added capability to offer pharmaceutical manufacturers contract packaging and CTM services in new geographies," said R. David Yost David Harold Yost (born January 7, 1969) is an American actor known for his role on the television series Mighty Morphin Power Rangers. Biography
Early life
, AmerisourceBergen Chief Executive Officer. "This purchase also supports AmerisourceBergen's strategy of focusing on servicing the manufacturers and healthcare providers in the pharmaceutical supply channel."

Based in Hay-on-Wye, Wales Wales, Welsh Cymru, western peninsula and political division (principality) of Great Britain (1991 pop. 2,798,200), 8,016 sq mi (20,761 sq km), west of England; politically united with England since 1536. The capital is Cardiff. , Brecon Pharmaceuticals is one of the leading contract packaging and CTM companies in the United Kingdom, providing packaging services for pharmaceuticals intended for sale by pharmaceutical manufacturers throughout Europe and Asia. Brecon, which will become a part of AmerisourceBergen Packaging Group, has approximately 280 employees, more than 90,000 square feet of packaging space and revenues in calendar year 2005 of approximately $22 million (approximately 13 million pounds).

About AmerisourceBergen

AmerisourceBergen (NYSE:ABC) is one of the world's largest pharmaceutical services companies serving the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and selected global markets. Servicing both pharmaceutical manufacturers and healthcare providers 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 pharmacy services for skilled nursing and assisted living as·sist·ed living
n.
A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication.
 facilities, reimbursement and pharmaceutical consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services"
, and physician education. With more than $54 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 13,000 people. AmerisourceBergen is ranked #23 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.

FORWARD-LOOKING STATEMENTS forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 

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 AmerisourceBergen's future financial and operating results and the benefits, efficiencies and savings to be derived from the Company's integration plans to consolidate its distribution network.

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 or supplier relationships; customer defaults or insolvencies; changes in customer mix; supplier defaults or insolvencies; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; adverse resolution of any contract or other disputes with customers (including departments and agencies of the U.S. Government) or suppliers; regulatory changes; changes in U.S. government policies (including reimbursement changes arising from the Medicare Modernization Act); further declines in the amounts of market share rebates offered by pharmaceutical manufacturers to the PharMerica long-term care long-term care (LTC),
n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders.
 business and/or the inability of the business to offset the rebate reductions that have already occurred, market interest rates; operational or control issues arising from AmerisourceBergen's outsourcing of information technology activities; success of the Pharmaceutical Distribution segment's ability to transition its business model to fee-for-service; success of integration, restructuring or systems initiatives; fluctuations in the U.S. dollar - Canadian dollar Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin"
loonie

dollar - the basic monetary unit in many countries; equal to 100 cents
 exchange rate; economic, business, competitive and/or regulatory developments in Canada; acquisition of businesses that do not perform as we expect or that are difficult for us to integrate or control; and other economic, business, competitive, legal, regulatory and/or operational factors affecting the business of AmerisourceBergen generally.

More detailed information about these and other risk factors is set forth in AmerisourceBergen's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for fiscal 2005.

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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Mar 1, 2006
Words:704
Previous Article:Dade Behring Launches Viva-Jr(TM) Drug Testing System; New system provides criminal justice and low-volume clinical laboratories with the most...
Next Article:Vertis Customer Focus(R) Study Reveals Furniture Purchasing Trends; Furniture Finds Niche Audience Among Adults 18-34.
Topics:



Related Articles
AmerisourceBergen Signs Agreement to Purchase Anderson Packaging, Inc.; Largest Pharmaceutical Distributor Adds Contract Pharmaceutical Packaging...
AmerisourceBergen Completes Acquisition of Anderson Packaging, Inc.
AmerisourceBergen Contract with AdvancePCS to End in August.
AmerisourceBergen To Acquire Canadian Distributor.
AmerisourceBergen Approves Quarterly Dividend.
AmerisourceBergen To Acquire Canadian Distributor.
AmerisourceBergen and Beverly Reach Agreement on Institutional Pharmacy Contract.
AmerisourceBergen Board of Directors Authorizes New $750 Million Share Repurchase Program.
AmerisourceBergen Acquires Canadian Distributor.
AmerisourceBergen to Acquire Xcenda LLC.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles