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Omnicare, Inc


Omnicare was founded in 1981 and is based in Covington, Kentucky. Omnicare Inc. is a publicly traded company having a good stock performance result. Omnicare Inc. is a fortune 500 stock listed company trading under OCR. It’s an old pharmaceutical services company that provides pharmaceuticals and related supplementary pharmacy services to long-term healthcare institutions primarily in the United States and Canada. It operates in two segments, Pharmacy Services and Contract Research Organization Services. Omnicare serves residents in long-term care facilities, and other chronic care settings, including around 1,441,000 beds in 47 states, the District of Columbia and Canada.
 
Pharmacy Services purchases, repackages, and dispenses prescription and nonprescription pharmaceuticals. This segment also provides consultant pharmacist services, including estimating patient drug therapy, and assisting in compliance with state and federal regulations and monitoring the drug distribution system within the nursing facility. As well, Pharmacy Services segment offers supplementary services, such as administering medications and nutrition intravenously, medical supplies and clinical care planning, furnishing dialysis and respiratory services, and financial software information systems. Moreover, this segment provides pharmaceutical case management services for employees, retirees, and dependents that have drug benefits under corporate-sponsored healthcare programs.
 
Pharmacy Services segment’s long-term care facilities include around 1,452,000 beds in 47 states in the U.S., the District of Columbia, and Canada. Contract Research Organization Services segment provides product development and research services to client companies in the pharmaceutical, medical device, biotechnology, and diagnostics industries. This segment provides support services for the design of regulatory strategy and clinical development of pharmaceuticals by offering integrated clinical, data management, quality assurance, medical writing, and regulatory support for its client’s drug development programs.
 
Net sales in 2004 reached 4.1 billion dollars, an 18percent increase over the previous year. Net income was 236.0 million dollars as compared with 194.4 million dollars, and diluted earnings per share were up 14.8percent to 2.17 dollars. After adjusting for special items and dilution in connection with a change in accounting related to their contingent convertible securities, their adjusted net income of 240.6 million dollars increased 19percent in 2004, with adjusted diluted earnings per share reaching 2.31 dollars, up 14.9percent.
 
Earnings before interest, depreciation, income taxes and amortization for the full year 2004, including special items, was 498.7 million dollars against 440.6 million dollars in 2003. Excluding special items, 2004 adjusted EBITDA was 506.1 million dollars against 440.6 million dollars in 2003, up 15percent.
 
 


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