Bergen Brunswig Comments On Recent Business Development.ORANGE, Calif.--(BUSINESS WIRE)--June 17, 1999-- Bergen Brunswig Corporation (NYSE NYSE See: New York Stock Exchange :BBC BBC in full British Broadcasting Corp. Publicly financed broadcasting system in Britain. A private company at its founding in 1922, it was replaced by a public corporation under royal charter in 1927. ), which acquired PharMerica on April 26, 1999 in a transaction accounted for as a purchase, stated today that although the Company considered the impact of the newly implemented Medicare Prospective Payment System (PPS (Packets Per Second) The measurement of activity in a local area network (LAN). In LANs such as Ethernet, Token Ring and FDDI, as well as the Internet, data is broken up and transmitted in packets (frames), each with a source and destination address. ) in its evaluation of PharMerica, early results this quarter indicate that the negative effect of PPS may be greater than anticipated. At the same time, the fundamentals of the core distribution business remain strong, the strategy is sound and management remains confident in the long-term outlook for the Company. The Company is reviewing recent operating results and evaluating its consolidated earnings for the third and fourth quarters and will communicate additional information as it becomes available. Bergen Brunswig Corporation, a Fortune 200 Company with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $17 billion (excludes bulk shipments to customers' warehouses), is one of the nation's leading supply channel management companies, providing pharmaceuticals, medical-surgical supplies and specialty products as well as information management solutions and outsourcing services designed to improve cost-effectiveness and increase value for customers, patients and manufacturers across the entire healthcare spectrum. Additionally, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , PharMerica, Bergen serves approximately 500,000 patients in 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. and alternate site settings. Bergen also develops disease-specific treatment protocols and pharmacoeconomic initiatives to assist in the reduction of overall healthcare costs while improving disease management and outcomes. Certain of the information set forth in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those projected or implied. Such statements may be identified by the use of forward-looking language such as "may," "will," "should," "expect," "anticipate," "estimate" or "continue" or the negatives or other variations thereof or other similar terminology. Such risks and uncertainties may include the risks described in exhibit 99 to the Company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 1999 and in other reports and exhibits filed with the Securities and Exchange Commission. |
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