Bergen Forecasts $1.6 Billion From CVS Deal
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Bergen Brunswig Corp.’s Bergen Brunswig Drug Co. said Tuesday it has expanded its five-year agreement with CVS ProCare Pharmacy Inc., which should generate $150 million in new business the first year and more than $1.6 billion during the full term.
Under the amended agreement, Orange-based Bergen will provide pharmaceuticals to ProCare’s retail apothecary business. Bergen already supplies pharmaceuticals to ProCare’s mail-service pharmacy.
CVS ProCare operates two mail-service pharmacies and 46 ProCare apothecaries in urban areas. Bergen Brunswig supplies pharmaceuticals and specialty health care products. It reported 2000 revenue of $22.9 billion, including bulk shipments.
Bergen Brunswig’s stock rose 95 cents a share to $15.95 on the New York Stock Exchange.
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