WESTPORT, Conn., Oct. 20 /PRNewswire/ -- IMS HEALTH (NYSE: RX) today
announced that its Board of Directors has authorized a systematic stock
repurchase program to buy up to 8 million shares, or 5 percent, of the
company's outstanding common stock. Stock purchases are scheduled to begin
immediately. IMS HEALTH had approximately 160.1 million shares of common
stock outstanding on September 30, 1998.
"This second stock repurchase program of 1998 demonstrates IMS HEALTH's
continued commitment to enhance shareholder value," said Victoria R. Fash,
president and chief operating officer. "Our first program was completed on an
accelerated basis. This new authorization indicates the confidence of our
Board of Directors in the positive business outlook for IMS HEALTH."
Shares acquired through the repurchase program will be open-market
purchases in compliance with Securities and Exchange Commission Rule 10b-18.
IMS HEALTH is the world's leading provider of information solutions to the
pharmaceutical and healthcare industries. With more than $1 billion in
1997 revenue, IMS HEALTH operates in over 90 countries. IMS HEALTH is the
largest pharmaceutical manufacturer information partner, with over 40 years'
experience in the industry. Key products and services integral to customer
day-to-day operations include: market research for prescription and
over-the-counter pharmaceutical products; sales management information to
optimize sales force productivity; technology enabled selling solutions for
sales and marketing decision-making; and technology systems and information
services that support managed care organizations. Additional information is
available at http://www.imshealth.com.
This press release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Although IMS HEALTH
believes the expectations contained in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
correct. This information may involve risks and uncertainties that could
cause actual results of IMS HEALTH to differ materially from the
forward-looking statements. Factors which could cause or contribute to such
differences include, but are not limited to (i) the risks associated with
operating on a global basis, including fluctuations in the value of foreign
currencies relative to the U.S. dollar, and the ability to successfully hedge
such risks, (ii) to the extent they seek growth through acquisition, the
ability to identify and consummate acquisitions on satisfactory terms, (iii)
the ability to develop new or advanced technologies and systems for their
businesses on a cost-effective basis, (iv) the ability to successfully achieve
estimated effective tax rates and corporate overhead levels, (v) competition
in the market for audience measurement services, (vi) regulatory and
legislative initiatives, particularly in the area of medical privacy, (vii)
deterioration in economic conditions, particularly in the pharmaceutical,
healthcare, media, information technology or other industries in which their
customers operate, (viii) conditions in the securities markets which may
affect the value or liquidity of portfolio investments, (ix) and other factors
detailed in IMS HEALTH's SEC filings.
SOURCE IMS Health
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Related links:
http://www.imshealth.com
Company News On-Call:
http://www.prnewswire.com/comp/115785.html or fax,
800-758-5804, ext. 115785
CONTACT:
Michael C. Gury of IMS Health, 203-222-4230
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