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FOXMEYER, POSITIVE ON FUTURE PROSPECTS, RESPONDS TO INDUSTRY CONDITIONS

FOXMEYER, POSITIVE ON FUTURE PROSPECTS, RESPONDS TO INDUSTRY CONDITIONS
    DALLAS, Dec. 4 /PRNewswire/ -- FoxMeyer Corporation (NYSE: FOX) responded today to inquiries about the effects of a slower rate of price increases by drug manufacturers, announcing measures it has taken to support continued growth in its wholesale drug distribution operations.
    "FoxMeyer no doubt will be affected by these industry conditions, but we are responding aggressively; we've already begun cost-containment efforts to mitigate the impact," said Robert L. King, president and chief executive officer.
    "Based on our assessment of future industry pricing, we expect FoxMeyer's fiscal 1992 operating results to be substantially better than those for the year ended March 31, 1991 and we do not anticipate any significant customer write-offs.  We feel very positive about the future prospects, including continued improvement in fiscal 1993," he said. "We are experiencing on-target sales growth and excellent cost reductions through delivery optimization and warehouse productivity improvements.  We continue to analyze expansion and acquisition opportunities."
    FoxMeyer, which is headquartered in Dallas, is the third largest drug wholesaler in the United States.  The company distributes pharmaceutical products and health and beauty aids in 35 states, primarily in the Midwest, Southwest and South. FoxMeyer's customers include independent drug stores, chains, hospitals and other health care institutions.
    -0-         12/4/91
    /CONTACT:  J. Warren Henry of FoxMeyer, 214-446-4270/
    (FOX) CO:  FoxMeyer Corporation ST:  Texas IN:  MTC SU: SH -- NY022 -- 9074 12/04/91 09:52 EST
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Publication:PR Newswire
Date:Dec 4, 1991
Words:238
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