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Omnicare CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: OCR

For simplicity sake and the focus on what we believe are the best indicators of our operating performance, we will discuss results from continuing operations and we’ll also exclude special items for all periods in our discussion today.

A reconciliation of this non-GAAP information has been attached to our earnings release and is also available on our newly redesigned website. Also on our website, you will find fourth quarter supplemental slides and the historical data behind our cash based EPS reporting methodology, which we will follow when we report our first quarter results.

Before turning the call over to John, I would like to remind analysts to limit themselves to one question and one follow-up during our question-and-answer session so others may ask their questions.

With that, it is my pleasure to turn the call over to John Figueroa.

John Figueroa

Thanks Patrick. Good morning everyone, and thank you for joining us. Before we provide our perspective on our strong fourth quarter results and 2012 outlook, I’d like to briefly discuss our decision to allow a tender offer to acquire PharMerica to expire. Following our remarks, we’ll be happy to answer your questions.

In respect to PharMerica, while we strongly disagree with the FDCs decision to seek to block the proposed transaction, I believe we made the right decision to avoid investing significant time and money in a lawsuit to allow our tender offer to purchase all outstanding shares of PharMerica to expire.

While we believe the FDC failed to recognize the tremendous value, the combined entity would have offered the healthcare supply train, Omnicare’s business is performing well, and I believe we are well positioned to effect such change organically.

With such unique developments as OmniviewDr, which offers the first electronic prescribing solution for controlled substances in institutional settings, and Omnicare’s Proprietary Automation, which succeeds Six Sigma quality and prescription dispensing, I believe Omnicare’s actively revolutionized in quality and innovation in our industry.

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