Generics, specialty drugs drive AmerisourceBergen's Q1

VALLEY FORGE, Pa. — AmerisourceBergen on Friday reported revenue of $19.9 billion, up 2.9%, for the first quarter ended Dec. 31.

"In the December quarter, we delivered outstanding performance on top of exceptional performance last year,” stated David Yost, AmerisourceBergen CEO. “We had strong results in all of our business units, we benefited from successful generic drug launches and we continued to demonstrate expense and working capital discipline,” he said. "Our balance sheet remains strong, and we continue to have excellent financial flexibility. We are off to a solid start for the fiscal year, demonstrating the strength of our two growth drivers — generics and specialty pharmaceuticals."

AmerisourceBergen reaffirmed its expectations for fiscal year 2011 diluted earnings per share in the range of $2.31 to $2.41.