AmerisourceBergen, the largest pharmaceutical services company in the United States dedicated solely to the pharmaceutical supply chain, held an investor meeting in New York City to give an update on its future plans.
Speaking at the meeting, the company's chief executive officer R David Yost said, "We expect to continue to grow AmerisourceBergen by remaining focused on and enhancing our position in the pharmaceutical supply channel. The fundamental growth drivers in the industry, such as the expanding demand for pharmaceuticals and new pharmaceutical product development, remain strong. Our simple, two-part growth strategy is be "Best in Class" in pharmaceutical distribution and "Best in Class" in value-added services to our healthcare provider and manufacturer customers."
AmerisourceBergen's president and chief operating officer, Kurt J Hilzinger addressed the company's approach to disciplined growth, saying, "We remain very disciplined in our selection of solutions and services that drive market share, efficiency and/or patient care for our provider and manufacturing customers. With open architecture solutions we are providing customers with solutions that integrate with existing investments and recognize how precious capital is in healthcare. We provide total systems solutions as well as individual, integrated solutions to address customer needs."
"Through our focus on the pharmaceutical channel, we continue to expect to drive strong performance," said Michael D DiCandilo, AmerisourceBergen senior vice president and chief financial officer. "For the fiscal year 2004, we continue to expect to grow operating revenue in line with the US pharmaceutical market, which is expected to be at the lower end of the four-year range of 10 per cent to 13 per cent. With our disciplined approach to revenue growth, we expect to grow diluted earnings per share, excluding special items, for this fiscal year at approximately 15 per cent, within a range of $4.50 per share to $4.60 per share.
"AmerisourceBergen's long-term guidance is to grow operating revenue with the US pharmaceutical market, which is currently expected to grow 10 per cent to 13 per cent through 2007, and grow annual earnings per share excluding special items at 15 per cent or greater."
Also speaking at the investor meeting were: Terrance Haas, senior vice president operations for the company's drug distribution business; Steven Collis, senior vice president and president of AmerisourceBergen specialty group; William Shields, president of PharMerica Long Term Care, the company's institutional pharmacy business; Duane Chudy, president of AutoMed, AmerisourceBergen's pharmacy automation operations; and Edward Hancock, president of AmerisourceBergen's packaging group.