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|AmerisourceBergen Re-Elects Three Board Members at Annual Meeting of Stockholders|
PHILADELPHIA, Feb 17, 2011 (BUSINESS WIRE) --
At the AmerisourceBergen Corporation (NYSE: ABC) annual meeting of stockholders, held today in Philadelphia, Company stockholders re-elected three directors to serve for a three-year term: Charles H. Cotros, Jane E. Henney, M.D., and R. David Yost. Stockholders also ratified the appointment of Ernst & Young as the Company's independent registered public accounting firm for fiscal 2011, approved the amendment of the Company's certificate of incorporation to provide for the annual election of directors, and approved the Company's 2011 Employee Stock Purchase Plan.
The Company also announced the results of two advisory votes. Stockholders voted to approve the compensation of the Company's named executive officers, and a majority of votes were cast in favor of holding an annual advisory vote on the compensation of the Company's named executive officers. The Company will take these advisory votes under consideration and make a determination regarding the frequency of stockholder votes on executive compensation by early summer.
During the meeting, AmerisourceBergen's Chief Executive Officer, R. David Yost, gave an overview of the Company's activities and its results of operations from fiscal year 2010 and the first fiscal quarter of 2011.
The AmerisourceBergen Board of Directors is comprised of nine members, all of whom are independent directors, except Chief Executive Officer, R. David Yost. Detailed biographies for all board members are available in the Company's 2011 proxy statement and on its website at www.amerisourcebergen.com.
AmerisourceBergen is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both healthcare providers and pharmaceutical manufacturers 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 reimbursement and pharmaceutical consulting services. With $78 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs approximately 10,000 people. AmerisourceBergen is ranked #24 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
Certain of the statements contained in this press release are "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 change in circumstances. Among the factors that could cause actual results to differ materially from those projected, anticipated or implied are the following: changes in pharmaceutical market growth rates; the loss of one or more key customer or supplier relationships; changes in customer mix; customer delinquencies, defaults or insolvencies; supplier defaults or insolvencies; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; adverse resolution of any contract or other dispute with customers or suppliers; federal and state government enforcement initiatives to detect and prevent suspicious orders of controlled substances and the diversion of controlled substances; quitam litigation for alleged violations of fraud and abuse laws and regulations and/or any other laws and regulations governing the marketing, sale and purchase of pharmaceutical products or any related litigation, including shareholder derivative lawsuits; changes in federal and state legislation or regulatory action affecting pharmaceutical product pricing or reimbursement policies, including under Medicaid and Medicare; changes in regulatory or clinical medical guidelines and/or labeling for the pharmaceutical products we distribute, including certain anemia products; price inflation in branded pharmaceuticals and price deflation in generics; greater or less than anticipated benefit from launches of the generic versions of previously patented pharmaceutical products; significant breakdown or interruption of our information technology systems; our inability to continue to implement an enterprise resource planning (ERP) system to handle business and financial processes and transactions (including processes and transactions relating to our customers and suppliers) of AmerisourceBergen Drug Corporation operations and our corporate functions as intended without functional problems, unanticipated delays and/or cost overruns; success of integration, restructuring or systems initiatives; interest rate and foreign currency exchange rate fluctuations; economic, business, competitive and/or regulatory developments in Canada, the United Kingdom and elsewhere outside of the United States, including changes and/or potential changes in Canadian provincial legislation affecting pharmaceutical product pricing or service fees or regulatory action by provincial authorities in Canada to lower pharmaceutical product pricing and service fees; the impact of divestitures or the acquisition of businesses that do not perform as we expect or that are difficult f