VALLEY FORGE, Pa. AmerisourceBergen Corp. has signed a letter of intent with Medco Health Solutions to remain the company’s prime vendor for pharmacy benefit management mail-order wholesaler services.
AmerisourceBergen’s current five-year contract with Medco was due to end March 31, 2008. In fiscal year 2007, the Medco contract represented approximately 8 percent of AmerisourceBergen’s $61.6 billion of operating revenue and approximately 90 percent of its $4.4 billion bulk revenue.
R. David Yost, AmerisourceBergen president and chief executive officer, said, “We are very excited about continuing our relationship with Medco, the nation’s leading pharmacy benefit manager, and providing them with even more value and service.”
AmerisourceBergen also continues to expect fiscal 2008 diluted earnings per share to be in the range of $2.77 to $2.95. The diluted earnings per share range represents an increase of approximately 13 percent to 20 percent over the $2.46 earnings per share from fiscal year 2007.