Bergen Brunswig and Longs Drug Stores Announce Joint Venture Central Fill Partnership.Business Editors/Health & Medical Writers ORANGE, Calif.--(BUSINESS WIRE)--Feb. 27, 2001 Bergen Brunswig Drug Company, a subsidiary of 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. ), and Longs Drug Store Corporation (NYSE:LDG LDG Landing (aviation) LDG Landing LDG Lodge LDG Landing Gear LDG Lancha de Desembarque Grande (Portuguese Navy) LDG Linz Donawitz Gas LDG Los Alamos Debugger LDG Limb-Girdle Dystrophy ) today announced the signing of a joint venture central fulfillment partnership under which prescriptions will be filled at a central location for Longs' retail pharmacies as well as Bergen's chain customers and Good Neighbor Pharmacy Good Neighbor Pharmacy is a retailers' cooperative network of over 2,700 independently owned and operated pharmacies. It has a business affiliation with AmerisourceBergen (Bergen Brunswig Drug Company), which sponsors the network and owns the name "Good Neighbor Pharmacy". network. The fulfillment operation will focus on effecting a reduction in prescription fulfillment costs while driving more efficient utilization of registered pharmacists and pharmacy technicians. Other potential benefits of the fulfillment partnership will be an increase in prescription capacity at Longs and improved inventory management for both companies. The new joint venture fill center is located in Sacramento and is expected to be operational in the second calendar quarter of 2001. The fulfillment operation will utilize the PDX PDX Product Data Exchange (file name extension; XML technology) PDX Paradox Files (file name extension) PDX Product Definition Exchange PDX Phone Data Exchange (Proxon) pharmacy system platform and is supported by Bergen's logistics network for delivery. At capacity, the fulfillment center is expected to fill an estimated 10,000 prescriptions daily, which consumers will pick up at their local pharmacy counters. "We are excited to partner with Bergen in launching a prescription fulfillment operation," said Steve Roath, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Longs Drug Stores. "Current and projected trends for community pharmacists show that the demand for the pharmacists is substantially greater than the supply. Additionally, current projections indicate that the number of prescriptions will increase 40 percent within the next three years while the number of community pharmacists is expected to increase by only 6 percent. We believe that the fill center will help us address this imbalance by increasing our prescription fulfillment capacity." Brent Martini, president, BBDC BBDC Brantley Capital Corporation (Cleveland, OH) BBDC before bottom dead center (referring to a piston in a engine) BBDC Banting and Best Diabetes Centre BBDC Beijing Benz-DaimlerChrysler Automotive Co, Ltd , commented, "This new venture expands Bergen's business model beyond the traditional distribution relationship into a key area of operational importance to our customers. We are combining Bergen's expertise in distribution, logistics, systems, and pharmacy automation with Longs' professional and operational proficiency, prescription volume, and store convenience." Roath agreed, stating, "The experience, knowledge and accessibility of our pharmacists are key to improved patient safety and effective drug utilization. We anticipate that our new fulfillment model will be instrumental in helping us successfully meet these and other challenges we face in community pharmacy." David Neu, president of retail division, BBDC added, "Both Bergen and Longs bring distinct core competencies to this innovative partnership. The central fill software solution is further reinforced by our strategic alliance with PDX." Longs Drug Stores Corporation (NYSE: LDG) is one of the largest drug store chains in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Founded in 1938 by brothers Joe and Tom Long as "Longs Self-Service Drugs", the Company currently operates 431 stores in California, Hawaii, Washington, Nevada, Colorado, and Oregon. Annual sales average over $9.5 million per store. Longs' unique strategy, focused on consumers' health and well being, includes competencies in the key categories of pharmacy, over the counter medications, photo, and cosmetics, as well as other convenience offerings. Longs' web site, located on the Internet at www.longs.com, blends consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, with extensive health and wellness information. Bergen Brunswig Corporation, headquartered in Orange County, California Orange County is a county in Southern California, United States. Its county seat is Santa Ana. According to the 2000 Census, its population was 2,846,289, making it the second most populous county in the state of California, and the fifth most populous in the United States. , is a leading supplier of pharmaceuticals and specialty healthcare products as well as information management solutions and consulting services. Bergen's customers include the nation's healthcare providers (hospitals, nursing homes and physicians) drug stores, manufacturers and patients. Through its subsidiaries, Bergen provides product distribution; logistics; pharmacy management programs; and Internet fulfillment strategies designed to reduce costs and improve patient outcomes across the entire healthcare spectrum. Bergen Brunswig press releases are available on the company's website at www.bergenbrunswig.com. Except for historical information, all other information set forth in this press release, such as earnings forecasts and earnings rate projections, consists of "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. " 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. These "forward-looking statements" 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," "believe," "think," "continue" or the negatives or other variations thereof or other similar terminology. Such risks and uncertainties include the risks described in exhibit 99(a) to the Company's 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 the year ended September 30, 1999 and in other reports and exhibits filed with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, the costs and difficulties related to the integration of acquired businesses, the loss or disruption of one or more key customer or supplier relationships, changes in the distribution outsourcing pattern for pharmaceutical products and/or services, the ability to obtain general financing or financing rates that would be compatible with the Company's business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , and the costs and other effects of governmental regulation and legal and administrative proceedings. The Company assumes no obligation to update the information in the release. Bergen Brunswig press releases are available on the company's website at www.bergenbrunswig.com. |
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