PharMerica Corporation , a national provider of institutional pharmacy and hospital pharmacy management services, today commented on the decision by the Federal Trade Commission to sue to block Omnicare’s unsolicited offer to acquire PharMerica.
“We are pleased the FTC has made a prompt decision to resolve the competitive issues surrounding Omnicare’s attempted hostile takeover of PharMerica Corporation,” said Gregory S. Weishar, PharMerica Chief Executive Officer. “As we have said from the beginning, we believed antitrust clearance would be difficult to achieve and, with that belief now confirmed, we hope that Omnicare will end its hostile pursuit of PharMerica.
“We believe PharMerica is well positioned to deliver outstanding value for customers and stockholders as we pursue our strategic initiatives and head into the accelerating wave of generic drug conversions in 2012 and beyond.”
Deutsche Bank Securities Inc. is acting as financial advisor and Holland & Knight LLP and Covington & Burling LLP are acting as legal advisors to PharMerica.
PharMerica Corporation is a leading institutional pharmacy services company servicing healthcare facilities in the United States. PharMerica operates institutional pharmacies in 44 states. PharMerica’s customers are institutional healthcare providers, such as nursing centers, assisted living facilities, hospitals and other long-term care providers. The Company also provides pharmacy management services to long-term care hospitals.