美源伯根 (ABC) 2022 Q3 法說會逐字稿

Hello, everyone, and welcome to the AmerisourceBergen Third Quarter Fiscal 2022 Earnings Call. My name is Victoria, and I will be your [conference call operator] today. (Operator Instructions) I'll now pass over to your host, Bennett Murphy, Head of Investor Relations, to begin. Please go ahead.

大家好，歡迎參加 AmerisourceBergen 2022 財年第三季度財報電話會議。我的名字是 Victoria，今天我將成為您的 [電話會議接線員]。 （操作員說明）我現在請您的主持人，投資者關係主管 Bennett Murphy 開始。請繼續。

Thank you. Good morning, good afternoon, and thank you all for joining us for this conference call to discuss AmerisourceBergen's fiscal 2022 third quarter results. I am Bennett Murphy, Senior Vice President, Investor Relations. Joining me today are Steve Collis, Chairman, President and CEO; and Jim Cleary, Executive Vice President and CFO.

謝謝你。早上好，下午好，感謝大家參加這次電話會議，討論 AmerisourceBergen 的 2022 財年第三季度業績。我是投資者關係高級副總裁 Bennett Murphy。今天加入我的是董事長、總裁兼首席執行官史蒂夫·科利斯；和執行副總裁兼首席財務官 Jim Cleary。

On today's call, we'll be discussing non-GAAP financial measures. Reconciliations of these measures to GAAP are provided in today's press release, which is available on our website at investor.amerisourcebergen.com. We have also posted a slide presentation to accompany today's press release on our investor website.

在今天的電話會議上，我們將討論非 GAAP 財務指標。今天的新聞稿中提供了這些措施與公認會計原則的對賬，該新聞稿可在我們的網站investor.amerisourcebergen.com 上查閱。我們還在我們的投資者網站上發布了一張幻燈片，以配合今天的新聞稿。

During this conference call, we will make forward-looking statements about our business and financial expectations on an adjusted non-GAAP basis, including, but not limited to, EPS, operating income and income taxes. Forward-looking statements are based on management's current expectations and are subject to uncertainty and change.

在本次電話會議期間，我們將根據調整後的非公認會計原則對我們的業務和財務預期做出前瞻性陳述，包括但不限於每股收益、營業收入和所得稅。前瞻性陳述基於管理層當前的預期，並受不確定性和變化的影響。

For a discussion of QS assumptions, we refer you to today's press release and our SEC filings, including our most recent 10-K. AmerisourceBergen assumes no obligation to update any forward-looking statements, and this call cannot be your broadcast without the express permission of the company. (Operator Instructions) With that, I'll turn the call over to Steve.

有關 QS 假設的討論，請參閱今天的新聞稿和我們的 SEC 文件，包括我們最近的 10-K。 AmerisourceBergen 不承擔更新任何前瞻性陳述的義務，未經公司明確許可，本次電話會議不能作為您的廣播。 （操作員說明）這樣，我將把電話轉給史蒂夫。

Thank you, Bennett. Good morning and good afternoon to everyone on the call. Before we discuss our results for the quarter, I want to provide a brief update on opioid-related litigation.

謝謝你，貝內特。早上好，下午好，通話中的每個人。在我們討論本季度的業績之前，我想簡要介紹一下阿片類藥物相關訴訟的最新情況。

As previously disclosed, we have reached an agreement for a settlement with the state of Oklahoma that is consistent with the state's allocations under the comprehensive settlement agreement. That brings the total number of states settling opioid-related claims to 48 of 49 eligible states.

如前所述，我們已與俄克拉荷馬州達成和解協議，該協議與該州在全面和解協議下的分配一致。這使得解決阿片類藥物相關索賠的州總數達到 49 個符合條件的州中的 48 個。

In July, we were pleased to receive a ruling from a federal judge that held that our distribution of FDA-approved medications to licensed and registered healthcare providers in Cabell County and the City of Huntington was not a public nuisance, and we are optimistic the ruling will hold up upon appeal.

7 月，我們很高興收到一位聯邦法官的裁決，該裁決認為我們向卡貝爾縣和亨廷頓市的許可和註冊醫療保健提供者分發 FDA 批准的藥物不是公害，我們對裁決持樂觀態度將在上訴時擱置。

Additionally, we reached an agreement with the remaining counties and municipalities of the state of West Virginia to resolve opioid-related claims. We are encouraged by this continued progress, and we will not comment deeply at this time.

此外，我們與西弗吉尼亞州的其餘縣市達成協議，以解決與阿片類藥物相關的索賠。我們對這種持續的進步感到鼓舞，目前我們不會深入評論。

AmerisourceBergen continues to work diligently with our partners to combat drug diversion while supporting real solutions that help address the crisis in the communities where we live, work and serve.

AmerisourceBergen 繼續與我們的合作夥伴一起努力打擊藥物轉移，同時支持真正的解決方案，幫助解決我們生活、工作和服務的社區的危機。

Turning now to our third quarter of fiscal '22. AmerisourceBergen delivered another quarter of strong results, driven by continued high levels of execution across our company and the strength and resilience of our businesses.

現在轉到我們 22 財年的第三季度。在我們公司持續高水平的執行以及我們業務的實力和彈性的推動下，AmerisourceBergen 又實現了四分之一的強勁業績。

During the quarter, revenue was up 12.5% over the prior-year period to $60 billion. Adjusted operating income increased by 20% and adjusted EPS grew by 21%. These strong results and the increase in our full-year outlook, which Jim will discuss in greater detail, are driven by our team members' continued strong execution, the resilience of our businesses and our differentiated solutions.

本季度，收入比去年同期增長 12.5%，達到 600 億美元。調整後營業收入增長 20%，調整後每股收益增長 21%。這些強勁的業績和我們全年展望的增長（吉姆將更詳細地討論）是由我們團隊成員持續強大的執行力、我們業務的彈性和我們的差異化解決方案推動的。

Our business is further enhanced by the strength of our foundational Pharmaceutical Distribution business, our position in the market and our strategic focus on the 4 areas of specialty medicine and services, community providers, long-term customer partnerships and providing global access and opportunity.

我們的基礎藥品分銷業務的實力、我們在市場中的地位以及我們對專業藥品和服務、社區供應商、長期客戶合作夥伴關係以及提供全球准入和機會這 4 個領域的戰略重點進一步增強了我們的業務。

In our first focus area of specialty medicine and services, we continue to benefit from our market leadership and ability to capture growth opportunities as pharmaceutical innovation continues to advance.

在我們的第一個專業醫學和服務重點領域，我們繼續受益於我們的市場領導地位和隨著藥物創新的不斷發展而抓住增長機會的能力。

In the U.S., we are benefiting from demographic trends, increasing biosimilar utilization and the downstream services we are able to provide to support specialty physician practices as they continue to grow along with the market.

在美國，我們受益於人口趨勢、生物仿製藥利用率的提高以及我們能夠提供的下游服務，以支持專科醫師的實踐，因為它們隨著市場的持續增長。

We continue to support the growth of biosimilars with services both upstream from helping biopharma manufacturers with clinical development, commercialization and launch to downstream, supporting provider education and patient access.

我們繼續支持生物仿製藥的增長，其上游服務包括幫助生物製藥製造商進行臨床開發、商業化和下游上市，支持供應商教育和患者獲取。

We also continue to see good growth across specialties from oncology to ophthalmology and rheumatology, driven by our GPO data and analytics and additional value-added capabilities.

在我們的 GPO 數據和分析以及其他增值能力的推動下，我們還繼續看到從腫瘤學到眼科和風濕病學的專業領域的良好增長。

Looking to the future, the specialty market is driven by exciting scientific developments that enable increasingly precise and personalized treatments for diseases that were once thought of as untreatable. And we are positioning ourselves to support this innovation and capture these global growth opportunities.

展望未來，專業市場將受到令人興奮的科學發展的推動，這些發展使人們能夠對曾經被認為無法治癒的疾病進行越來越精確和個性化的治療。我們的定位是支持這項創新並抓住這些全球增長機會。

In our specialty physician services business, we are well positioned to continue to support successful product access and utilization.

在我們的專科醫師服務業務中，我們有能力繼續支持成功的產品獲取和利用。

In the quarter, we continue to benefit from our scale, creating value for our downstream physician customers, both around the innovative products in the market and also on the biosimilar front in oncology, and see early-stage positive signs in the ophthalmology side.

本季度，我們繼續受益於我們的規模，為我們的下游醫生客戶創造價值，無論是圍繞市場上的創新產品還是在腫瘤學的生物仿製藥前沿，並在眼科方面看到早期的積極跡象。

On the logistics side, World Courier remains the market-leading solution for its expertise in specialty logistics and have stepped up to help our customers navigate global complexities.

在物流方面，World Courier 憑藉其在專業物流方面的專業知識，仍然是市場領先的解決方案，並已加緊幫助我們的客戶應對全球複雜性。

World Courier's capabilities, including expert execution, next-generation thermal packaging and advanced tracking technology enable safe and secure deliveries to their most remote communities and extreme climates.

World Courier 的能力，包括專家執行、下一代熱包裝和先進的跟踪技術，可確保向其最偏遠的社區和極端氣候提供安全可靠的送貨服務。

We continue to enhance our global logistics capabilities through World Courier, Alloga, Innomar and our other specialty-focused businesses to offer robust clinical and commercial support, such as direct-to-patient logistics and temperature-controlled transport and storage solutions.

我們繼續通過 World Courier、Alloga、Innomar 和其他以專業為重點的業務來增強我們的全球物流能力，以提供強大的臨床和商業支持，例如直接面向患者的物流和溫控運輸和存儲解決方案。

Recent investments include opening or expanding our facilities in strategic markets worldwide to add more cold chain capabilities and especially cryogenic storage to meet increasing demand.

最近的投資包括在全球戰略市場開設或擴大我們的設施，以增加更多的冷鏈能力，尤其是低溫儲存，以滿足不斷增長的需求。

With enhanced capabilities and expertise, we strive to further strengthen our market leadership to capture the opportunities ahead and facilitate pharmaceutical innovation.

憑藉增強的能力和專業知識，我們努力進一步加強我們的市場領導地位，以抓住未來的機會並促進藥物創新。

Our second focus area is community providers. Globally, community providers are integral to supporting the health of their local communities with key healthcare services and our critical providers in underserved areas.

我們的第二個重點領域是社區提供者。在全球範圍內，社區提供者通過關鍵的醫療保健服務和我們在服務不足地區的關鍵提供者來支持當地社區的健康，是不可或缺的。

Community pharmacies, for example, play a key role in helping healthcare systems, both in the U.S. and abroad, to reach communities of all types, reinforcing the value of independent pharmacies.

例如，社區藥房在幫助美國和國外的醫療保健系統覆蓋所有類型的社區方面發揮著關鍵作用，從而增強了獨立藥房的價值。

2 weeks ago, we hosted our annual Thoughtspot Conference for our Good Neighbor Pharmacy network, which coincided with the network's 40th anniversary. After hosting ThoughtSpot remotely during recent years, it was energizing to once again spend time with local community pharmacists in person to collaborate and to celebrate their impact in their communities.

兩週前，我們為Good Neighbor Pharmacy 網絡舉辦了年度Thoughtspot 會議，恰逢該網絡成立40 週年。近年來，在遠程託管 ThoughtSpot 之後，再次與當地社區藥劑師面對面合作並慶祝他們對社區的影響令人振奮。

This conference was even more special as we were joined by Alliance Healthcare team members that serve its Alphega independent pharmacy network in Europe as part of the best practice sharing we are conducting across our business.

這次會議更加特別，因為 Alliance Healthcare 團隊成員加入了我們，他們為其在歐洲的 Alphega 獨立藥房網絡提供服務，這是我們在整個業務中進行的最佳實踐分享的一部分。

Coming out of ThoughtSpot, I remain amazed and inspired by the resilience, passion, connection and ability of independent pharmacies to tailor their services to match patient needs, and patients are responding with high praise.

從 ThoughtSpot 出來後，我仍然對獨立藥房的韌性、熱情、聯繫和能力感到驚訝和鼓舞，他們可以根據患者的需求量身定制服務，而患者的反應是高度讚揚。

Our own Good Neighbor Pharmacy network was ranked highest in customer satisfaction with chain drugstore pharmacies in J.D. Power's 2022 U.S. Pharmacy Study. Incredibly, this is the 11th time that GNP has earned this recognition in the last 13 years and the network's sixth consecutive win.

在 J.D. Power 的 2022 年美國藥房研究中，我們自己的 Good Neighbor Pharmacy 網絡在連鎖藥店藥店的客戶滿意度中名列前茅。令人難以置信的是，這是 GNP 在過去 13 年中第 11 次獲得這一認可，也是該網絡連續第六次獲勝。

AmerisourceBergen is focused on assisting the professional pharmacy to increase its role in patient care in ways where the pharmacists have proved they can assist in providing expert patient care in an accessible setting.

AmerisourceBergen 專注於協助專業藥房增加其在患者護理中的作用，藥劑師已證明他們可以在無障礙環境中協助提供專業的患者護理。

We are pleased to see that the pharmacist role continues to be more elevated. And importantly, we were pleased to see the U.S. FDA's revision to the Paxlovid-EUA, authorizing state-licensed pharmacists to prescribe the COVID-19 antiviral to eligible patients.

我們很高興看到藥劑師的角色繼續得到提升。重要的是，我們很高興看到美國 FDA 對 Paxlovid-EUA 的修訂，授權國家許可的藥劑師為符合條件的患者開具 COVID-19抗病毒藥物。

This action by the FDA reflects the value that can be gained by the U.S. healthcare system if the role of pharmacists can be expanded. Americans rate pharmacies as the most accessible amongst healthcare destinations, including emergency departments and primary care physicians' offices. And many now have a pharmacy-first mentality when looking to improve their well-being.

FDA 的這一行動反映瞭如果藥劑師的作用可以擴大，美國醫療保健系統可以獲得的價值。美國人將藥房評為最容易到達的醫療保健目的地，包括急診科和初級保健醫生辦公室。現在，許多人在尋求改善他們的幸福感時都有一種藥房優先的心態。

Pharmacies are providing 2 out of every 3 COVID-19 vaccine doses administered in America and 45% of pharmacy COVID-19 vaccination sites are reported to be in areas with moderate to severe social vulnerability. Clearly, community pharmacies are a critical extension of our public healthcare system and an essential access point for those who need care the most.

在美國，每 3 劑 COVID-19 疫苗中就有 2 劑由藥店提供，據報導，45% 的藥店 COVID-19 疫苗接種點位於中度至重度社會脆弱性地區。顯然，社區藥房是我們公共醫療保健系統的重要延伸，也是最需要護理的人的重要接入點。

AmerisourceBergen is proud of our work to support independent pharmacies, including by advocating on their behalf for health equity policies that ensure access to their critical services.

AmerisourceBergen 為我們支持獨立藥房所做的工作感到自豪，包括代表他們倡導健康公平政策，以確保獲得他們的關鍵服務。

The third focus area for AmerisourceBergen is our long-term customer relationships. From upstream biopharma manufacturers to downstream pharmacies, veterinarians, physicians, health systems and government agencies, we leverage our strong core pharmaceutical distribution capabilities to support patient access wherever a prescription is needed.

AmerisourceBergen 的第三個重點領域是我們的長期客戶關係。從上游生物製藥製造商到下游藥店、獸醫、醫生、衛生系統和政府機構，我們利用我們強大的核心藥品分銷能力來支持患者在任何需要處方的地方就醫。

The strength and reach of our distribution capabilities have helped us continue to enhance our relationship with healthcare providers, big and small. And our relationship with stakeholders worldwide have been further reinforced throughout the pandemic.

我們分銷能力的實力和影響力幫助我們繼續加強與大大小小的醫療保健提供者的關係。在整個大流行期間，我們與全球利益相關者的關係得到了進一步加強。

We continue to see strong prescription utilization trends across our core distribution business and benefit from our broad portfolio of anchor customers. These long-term partnerships position us well to continue to benefit from the well-documented resiliency of the pharmaceutical supply chain.

我們繼續在我們的核心分銷業務中看到強勁的處方使用趨勢，並從我們廣泛的主力客戶組合中受益。這些長期的合作夥伴關係使我們能夠繼續受益於藥品供應鏈有據可查的彈性。

As partners, we also support our customers by making next [moderate] investments to help them stay ahead of an ever-evolving healthcare landscape.

作為合作夥伴，我們還支持我們的客戶進行下一步 [適度] 投資，以幫助他們在不斷發展的醫療保健領域保持領先地位。

Digital therapeutics, for example, is an area of opportunity for future growth. And to help innovators commercialize treatments and reach patients, we are preparing to launch DTx Connect, a platform that will integrate with EMR and simplify the prescription and nonprescription digital therapeutics process.

例如，數字療法是未來增長的一個機會領域。為了幫助創新者將治療商業化並接觸到患者，我們正準備推出 DTx Connect，該平台將與 EMR 集成並簡化處方和非處方數字治療流程。

Similarly, we are partnering to provide digital and e-commerce solutions so that veterinary practices can communicate more effectively with the increasingly digital-savvy clients and operate more efficiently.

同樣，我們正在合作提供數字和電子商務解決方案，以便獸醫實踐可以更有效地與越來越精通數字的客戶溝通並更有效地運作。

With our knowledge base across all sites of [care] geographies, AmerisourceBergen is creating increasingly more opportunities with our customers by problem solving and focusing on building enduring long-term relationships.

憑藉我們在 [care] 地區所有站點的知識庫，AmerisourceBergen 通過解決問題和專注於建立持久的長期關係，為我們的客戶創造越來越多的機會。

Our fourth focus area is providing global access and opportunity. Earlier, I mentioned the key role that World Courier plays in the global pharmaceutical supply chain with its expertise in specialty logistics. This quarter, we also celebrated the 1-year anniversary of our Alliance Healthcare acquisition.

我們的第四個重點領域是提供全球訪問和機會。早些時候，我提到了 World Courier 憑藉其在專業物流方面的專業知識在全球藥品供應鏈中發揮的關鍵作用。本季度，我們還慶祝了收購 Alliance Healthcare 一周年。

And as I reflect on the past year, the word that comes to mind is unity. Our teams have made great progress on integration, and we are more aligned than ever to our shared purpose of being united in our responsibility to create healthier futures.

當我回顧過去的一年時，我想到的詞是團結。我們的團隊在整合方面取得了長足的進步，我們比以往任何時候都更加符合我們的共同目標，即團結一致，共同承擔創造更健康未來的責任。

We are already beginning to realize the benefits of operating in a shared environment that allow teams to glean knowledge and best practices from colleagues in other areas of the business and in other markets.

我們已經開始意識到在共享環境中運營的好處，該環境允許團隊從其他業務領域和其他市場的同事那裡收集知識和最佳實踐。

One example is a recent exchange of visits between our distribution center leaders, in which our European team members visited our U.S. human and animal health distribution centers and our U.S. team members subsequently visited distribution centers in the U.K.

一個例子是我們配送中心領導最近的一次互訪，其中我們的歐洲團隊成員訪問了我們的美國人類和動物健康配送中心，我們的美國團隊成員隨後訪問了英國的配送中心。

Through these visits, the team has been able to share best practices around supply management, automation, performance tracking and productivity management and operational planning and design.

通過這些訪問，團隊能夠分享有關供應管理、自動化、績效跟踪和生產力管理以及運營規劃和設計的最佳實踐。

While we recognize the differences that exist between international markets, we are ready to identify, adapt and invest in proven best-in-class technology, supply chain, commercialization and services solutions.

雖然我們認識到國際市場之間存在的差異，但我們已準備好識別、調整和投資經過驗證的一流技術、供應鏈、商業化和服務解決方案。

We've also had the chance to unite around our manufacture partners. Recently, teams from both the U.S. and Europe met with one of our global partners to hold joint workshops, looking at how we can work together to achieve shared successes.

我們也有機會團結在我們的製造合作夥伴周圍。最近，來自美國和歐洲的團隊與我們的一位全球合作夥伴會面，舉辦聯合研討會，探討我們如何共同努力實現共同成功。

That manufacturer shared with me at our Thoughtspot Conference their desire to be our first truly global partner.

那家製造商在我們的思想點會議上與我分享了他們希望成為我們第一個真正的全球合作夥伴的願望。

There's no doubt in my mind that we are establishing the right culture and methodologies to capitalize on AmerisourceBergen's assets in ways that will differentiate us by taking advantage of our global reach and unique knowledge, scale and expertise in all the markets where we operate.

毫無疑問，我們正在建立正確的文化和方法，以利用 AmerisourceBergen 的資產，通過利用我們的全球影響力和在我們經營的所有市場中的獨特知識、規模和專業知識，使我們與眾不同。

The progress we've made so far to integrate our business and teams is as a result of the tireless effort of all of our global team members. I've mentioned in the past the strength of the Alliance Healthcare team, and they continue to impress with their resilience and their ability to execute and deliver strong operational performance.

迄今為止，我們在整合業務和團隊方面取得的進展是我們所有全球團隊成員不懈努力的結果。我過去曾提到過 Alliance Healthcare 團隊的實力，他們繼續以其韌性以及執行和交付強大運營績效的能力給人留下深刻印象。

We look forward to finding more opportunities to further strengthen our operations and to partner with our customers to offer truly global solutions that help them stay ahead of a continuously evolving environment.

我們期待找到更多機會來進一步加強我們的運營，並與我們的客戶合作，提供真正的全球解決方案，幫助他們在不斷變化的環境中保持領先地位。

Our team members are a fundamental driver of our long-term sustainable growth. At AmerisourceBergen, we firmly believe that our people are our most important asset, and our benefits and talent development programs are data-driven and based on employee input.

我們的團隊成員是我們長期可持續增長的根本驅動力。在 AmerisourceBergen，我們堅信員工是我們最重要的資產，我們的福利和人才發展計劃是數據驅動的並基於員工的投入。

During the quarter, we conducted our 2022 employee experience survey, which showed that our team members feel connected to our purpose, their managers and each other in making a positive impact on our customers and the healthcare supply chain.

在本季度，我們進行了 2022 年員工體驗調查，該調查顯示我們的團隊成員感到與我們的目標、他們的經理以及彼此相關，從而對我們的客戶和醫療保健供應鏈產生積極影響。

The valuable insights we have gained through the survey around cultural inclusion, team member satisfaction and engagement will help guide us as we build the united culture.

我們通過關於文化包容性、團隊成員滿意度和參與度的調查獲得的寶貴見解將有助於指導我們建立統一的文化。

Our Board and executive management team are committed to being a company that is transparent, ethical and a fair employer. We take our responsibilities to our 42,000 team members very seriously, and our goal is for them to always not only respect the company but also to be inspired by the work we do in fulfilling our purpose.

我們的董事會和執行管理團隊致力於成為一家透明、道德和公平雇主的公司。我們非常認真地對待我們對 42,000 名團隊成員的責任，我們的目標是讓他們始終不僅尊重公司，而且從我們為實現目標所做的工作中獲得靈感。

In addition to unity, we value a diverse, equal and inclusive culture. Our goal is to foster a global workplace that values all cultural, experiential and philosophical perspectives, creates pathways for every team member to thrive, make a positive impact on our communities through equitable access to healthcare and is transparent and accountable for progress.

除了團結，我們重視多元化、平等和包容的文化。我們的目標是建立一個重視所有文化、體驗和哲學觀點的全球工作場所，為每個團隊成員創造成長的途徑，通過公平獲得醫療保健對我們的社區產生積極影響，並且對進步保持透明和負責。

To further our goals, we published our first DEI summary report, which shows where we stand today and how we're going to hold ourselves accountable for making progress as we move forward. An important part of AmerisourceBergen's DE&I strategy as well as our broader ESG strategy is having a positive impact on our communities through equitable access to healthcare.

為了進一步實現我們的目標，我們發布了第一份 DEI 總結報告，其中顯示了我們今天的立場以及我們將如何讓自己在前進的過程中取得進展。 AmerisourceBergen 的 DE&I 戰略以及我們更廣泛的 ESG 戰略的一個重要組成部分是通過公平獲得醫療保健對我們的社區產生積極影響。

One of the key channels through which we support healthy communities worldwide is our AmerisourceBergen Foundation, which recently committed funds to the United Nations Foundation's Shot@Life campaign. The campaign is instrumental in supporting global vaccine equity and protecting the world's most vulnerable children from devastating diseases.

我們支持全球健康社區的主要渠道之一是我們的 AmerisourceBergen 基金會，該基金會最近向聯合國基金會的 Shot@Life 活動提供資金。該運動有助於支持全球疫苗公平和保護世界上最脆弱的兒童免受毀滅性疾病的侵害。

The funding will be used towards vaccine interventions in marginalized populations, such as refugee communities, and will specifically support vaccine delivery, transportation, logistics and community engagement.

這筆資金將用於對難民社區等邊緣化人群進行疫苗干預，並將專門支持疫苗的交付、運輸、物流和社區參與。

We are proud to support such important work that truly reflects the global impact we have when we live our purpose of being united in our responsibility to create healthier futures.

我們很自豪能夠支持如此重要的工作，這些工作真正反映了我們在實現我們的目標時所產生的全球影響，即我們團結一致，肩負起創造更健康未來的責任。

Today's strong results reflect the value of our core global pharmaceutical-centric businesses and the value created by the execution and intellectual confidence of our team members.

今天的強勁業績反映了我們以全球製藥為中心的核心業務的價值，以及我們團隊成員的執行力和智力自信所創造的價值。

Driven by our purpose and supported by our proven resilience, we remain confident in AmerisourceBergen's ability to deliver long-term sustainable growth by maintaining a leading share of pharmaceutical distribution and best-in-class efficiency while growing our higher-margin, higher-growth businesses.

在我們的目標的推動下，在我們久經考驗的韌性的支持下，我們仍然對 AmerisourceBergen 通過保持領先的藥品分銷份額和一流的效率，同時發展我們更高利潤、更高增長的業務來實現長期可持續增長的能力充滿信心.

Our strong position enables us to achieve this vision as we deliver on our strategic imperatives and focus on specialty medications and services, community providers, customer partnerships and ensuring access and opportunity for patients around the world.

我們的強大地位使我們能夠實現這一願景，因為我們實現了我們的戰略要求，並專注於專業藥物和服務、社區提供者、客戶合作夥伴關係，並確保世界各地患者的訪問和機會。

Now, I will turn the call over to Jim for a more in-depth review of our third quarter 2022 results and to discuss our updated financial guidance. Jim?

現在，我將把電話轉給吉姆，以更深入地審查我們 2022 年第三季度的業績，並討論我們更新的財務指導。吉姆?

Thank you, Steve, and thank you all for joining us on today's call. Before I turn to our results, as usual, my comments will focus primarily on our adjusted non-GAAP financial results. Growth rates and comparisons are made against the prior-year June quarter. For more details on our GAAP results, please refer to our earnings press release.

謝謝你，史蒂夫，也感謝大家加入我們今天的電話會議。在我轉向我們的結果之前，像往常一樣，我的評論將主要集中在我們調整後的非公認會計原則財務結果上。增長率和比較是與去年 6 月季度進行比較的。有關我們的 GAAP 結果的更多詳細信息，請參閱我們的收益新聞稿。

In our third quarter, AmerisourceBergen continued to deliver strong results as our teams executed on our strategic imperatives. Our core foundation in pharmaceutical distribution and suite of complementary higher-margin, higher-growth services around the world position us well to deliver differentiated long-term value creation, supported by our commitment to talent, diversity, equity and inclusion and ESG.

在我們的第三季度，隨著我們的團隊執行我們的戰略要務，AmerisourceBergen 繼續取得強勁的業績。我們在藥品分銷方面的核心基礎以及在全球範圍內提供的一系列補充性更高利潤、更高增長的服務使我們能夠很好地提供差異化的長期價值創造，這得益於我們對人才、多元化、公平和包容性以及 ESG 的承諾。

As Steve mentioned, in June, we passed the 1-year anniversary of the Alliance Healthcare acquisition. Our purpose-driven teams have worked diligently on integration and execution, and we are pleased that the acquisition has delivered high-teens EPS accretion in its first year as expected.

正如史蒂夫所提到的，6 月，我們通過了 Alliance Healthcare 收購一周年。我們以目標為導向的團隊一直在努力整合和執行，我們很高興此次收購在其第一年就如預期的那樣實現了高達十幾倍的每股收益增長。

Turning now to our third quarter results. AmerisourceBergen finished the quarter with adjusted diluted earnings per share of $2.62, a 21% increase, with solid operating income growth in both segments. Our consolidated revenue grew approximately 13% to $60.1 billion, driven by revenue growth in both segments.

現在轉向我們的第三季度業績。 AmerisourceBergen 以調整後的每股攤薄收益 2.62 美元結束本季度，增長 21%，這兩個部門的營業收入增長穩健。在這兩個部門的收入增長的推動下，我們的綜合收入增長了約 13% 至 601 億美元。

Consolidated gross profit increased 27% to $2.1 billion as a result of increases in gross profit in both segments. Gross profit margin grew by 39 basis points to 3.44%, driven by the Alliance Healthcare acquisition, an increase in the U.S. Healthcare Solutions segment and good performance in the International Healthcare Solutions segment.

由於兩個部門的毛利潤增加，綜合毛利潤增長 27% 至 21 億美元。毛利率增長 39 個基點至 3.44%，主要得益於 Alliance Healthcare 的收購、美國醫療保健解決方案部門的增長以及國際醫療保健解決方案部門的良好表現。

Consolidated operating expenses were $1.3 billion, up from $996 million as a result of higher distribution, selling and administrative expenses as well as depreciation expense primarily due to the Alliance Healthcare acquisition.

合併運營費用為 13 億美元，高於 9.96 億美元，原因是分銷、銷售和管理費用以及主要由於收購 Alliance Healthcare 導致的折舊費用增加。

Consolidated operating income was $756 million, up 20%. The increase was driven by operating income growth in both segments, which I will discuss in more detail when reviewing segment-level results.

合併營業收入為 7.56 億美元，增長 20%。這一增長是由兩個部門的營業收入增長推動的，我將在審查部門層面的結果時更詳細地討論這一點。

Turning now to interest expense and the income tax rate. Net interest expense was $53 million in the quarter, an increase of 3% due to an increase in debt related to the Alliance Healthcare acquisition and partially offset by higher interest income on invested cash. Our effective income tax rate was 20.2% compared to 21.0% in the prior-year quarter.

現在轉向利息費用和所得稅率。本季度淨利息支出為 5300 萬美元，增長 3%，原因是與 Alliance Healthcare 收購相關的債務增加，部分被投資現金利息收入增加所抵消。我們的有效所得稅率為 20.2%，而去年同期為 21.0%。

As it relates to our full year fiscal '22 tax rate guidance of approximately 21% to 22%, we would expect our full-year tax rate to be at the lower end of that range.

由於它與我們大約 21% 至 22% 的 22 財年全年稅率指導有關，我們預計我們的全年稅率將處於該範圍的下限。

Our diluted share count increased 1.4% to 211.7 million shares as a result of dilution related to employee compensation and the June 2021 issuance of 2 million shares to Walgreens Boots Alliance in connection with our acquisition of Alliance Healthcare, offset in part by share repurchases in the quarter.

由於與員工薪酬相關的稀釋以及與我們收購 Alliance Healthcare 相關的 2021 年 6 月向 Walgreens Boots Alliance 發行 200 萬股股票，我們的稀釋後股票數量增加了 1.4% 至 2.117 億股，部分被四分之一。

Regarding free cash flow and cash balance, fiscal year-to-date adjusted free cash flow was $1.55 billion for the 9 months ended June 30. We ended the quarter with $3.3 billion in cash, including approximately $270 million of restricted cash on our balance sheet.

關於自由現金流和現金餘額，截至 6 月 30 日的 9 個月，本財年迄今調整後的自由現金流為 15.5 億美元。本季度末我們擁有 33 億美元現金，其中包括資產負債表上約 2.7 億美元的受限現金.

In the quarter, we repaid $500 million in senior notes due March 2023 as we continue to make progress in paying down debt, issued to acquire Alliance Healthcare. The remaining balance on the senior notes due March 2023 is $1 billion. This completes the review of our consolidated results.

在本季度，我們償還了 2023 年 3 月到期的 5 億美元優先票據，因為我們在償還債務方面繼續取得進展，為收購 Alliance Healthcare 而發行。 2023 年 3 月到期的優先票據的餘額為 10 億美元。這完成了對我們綜合結果的審查。

Now I'll turn to our third quarter segment-level results. Starting with our U.S. Healthcare Solutions segment. Segment revenue increased by 6% to approximately $53.4 billion, driven by an increase in sales across our portfolio, including increased volumes in mail order and growth in sales to specialty physician practices.

現在我將轉向我們第三季度的細分市場結果。從我們的美國醫療保健解決方案部門開始。分部收入增長 6% 至約 534 億美元，這得益於我們產品組合的銷售額增長，包括郵購量的增加和對專科醫師的銷售額增長。

Segment operating income was $580 million, representing growth of 9.5% versus the third quarter of fiscal 2021. In the quarter, specialty physician services experienced strong broad-based growth to oncologists and other specialists as our industry-leading solution set continues to drive growth.

分部營業收入為 5.8 億美元，與 2021 財年第三季度相比增長 9.5%。在本季度，由於我們行業領先的解決方案集繼續推動增長，專科醫師服務對腫瘤學家和其他專家而言經歷了強勁的廣泛增長。

U.S. Healthcare Solutions segment operating income margin increased 3 basis points in the quarter due to fees earned from the distribution of government-owned COVID treatments.

由於分銷政府擁有的 COVID 治療所賺取的費用，美國醫療保健解決方案部門的營業利潤率在本季度增加了 3 個基點。

As a reminder, we distribute both commercial COVID-19 therapies and government-owned COVID-19 therapies. The contribution from government-owned COVID therapies is not a meaningful revenue driver, given the fee-based nature of the business.

提醒一下，我們分發商業 COVID-19 療法和政府擁有的 COVID-19 療法。鑑於該業務的收費性質，政府擁有的 COVID 療法的貢獻並不是一個有意義的收入驅動因素。

As it relates to COVID therapy earnings impact, COVID therapies contributed $0.14 to the June quarter, exactly half of the $0.28 contribution we called out on our May earnings call as remaining for the balance of our fiscal year in the U.S. Healthcare Solutions segment.

由於與 COVID 療法的收益影響有關，COVID 療法為 6 月季度貢獻了 0.14 美元，恰好是我們在 5 月收益電話會議上呼籲的 0.28 美元貢獻的一半，該貢獻是我們在美國醫療保健解決方案部門的財政年度餘額中剩餘的。

As a reminder, our full-year estimate for COVID therapy contribution in the U.S. Healthcare Solutions segment is still approximately $0.60, $0.46 of which we have realized in the segment through our third quarter.

提醒一下，我們對美國醫療保健解決方案部門的 COVID 治療貢獻的全年估計仍約為 0.60 美元，其中 0.46 美元是我們在第三季度在該部門實現的。

If COVID therapy volume trends in July were to continue through August and September, we would expect to see a couple of pennies worth of decline in COVID therapy contribution sequentially but clearly in that $0.60 full-year ballpark.

如果 7 月份的 COVID 治療量趨勢持續到 8 月和 9 月，我們預計 COVID 治療貢獻會連續下降幾美分，但在 0.60 美元的全年範圍內很明顯。

I will now turn to our International Healthcare Solutions segment. In the quarter, International Healthcare Solutions revenue was $6.7 billion, including $5.5 billion in revenue from Alliance Healthcare.

我現在將轉向我們的國際醫療保健解決方案部門。本季度，國際醫療保健解決方案收入為 67 億美元，其中來自 Alliance Healthcare 的收入為 55 億美元。

Segment operating income for the third quarter was $176 million, up 75%, driven by the 2 months incremental contribution from Alliance Healthcare and strong operating performance at World Courier, both of which had good performance despite higher-than-expected foreign exchange pressure related to the strong dollar.

第三季度分部營業收入為 1.76 億美元，增長 75%，主要得益於 Alliance Healthcare 兩個月的增量貢獻以及 World Courier 強勁的經營業績，儘管與相關的外匯壓力高於預期，但兩者均表現良好強勢美元。

Alliance Healthcare continued to have resilient volume trends that were in line or better than expectations, demonstrating the strong fundamentals of its pharmaceutical-centric business.

Alliance Healthcare 繼續保持與預期一致或好於預期的彈性銷量趨勢，證明了其以製藥為中心的業務的強勁基本面。

At World Courier, we had better-than-expected performance, driven by increased rates per shipment. The World Courier team also ensured that we are getting good value for the incredibly important logistics service we offer for these high-priority shipments.

在 World Courier，我們的表現好於預期，這主要是因為每件貨物的運費增加。 World Courier 團隊還確保我們為這些高優先級貨物提供的極其重要的物流服務獲得了良好的價值。

I will also note that in early June, as expected, we closed on our sale of the Profarma specialty business. This business contributed approximately $0.05 to EPS for the International Healthcare Solutions segment for the first 8 months of fiscal 2022. This completes the review of our segment-level results.

我還將注意到，在 6 月初，正如預期的那樣，我們完成了對 Profarma 專業業務的出售。該業務在 2022 財年的前 8 個月為國際醫療保健解決方案部門的每股收益貢獻了約 0.05 美元。這完成了對我們部門級業績的審查。

Now I will turn to our updated fiscal 2022 guidance. We are raising our fiscal 2022 adjusted EPS guidance from a range of $10.80 to $11.05 to a new guidance range of $10.90 to $11.10, representing growth of approximately 18% to 20% from the prior fiscal year.

現在我將轉向我們更新的 2022 財年指南。我們將 2022 財年調整後的每股收益指引從 10.80 美元至 11.05 美元提高到 10.90 美元至 11.10 美元的新指引範圍，比上一財年增長約 18% 至 20%。

The increased guidance reflects stronger-than-expected performance in several businesses and a lower-than-expected average diluted share count.

增加的指導反映了幾家企業的業績強於預期，以及平均攤薄後的股票數量低於預期。

Turning now to operating income. There is no change in our expectation for consolidated operating income growth, which we expect to be at least in the high-teens percent range.

現在轉向營業收入。我們對合併營業收入增長的預期沒有變化，我們預計至少在百分之十的範圍內。

In our U.S. Healthcare Solutions segment, we are raising the lower end of our operating income guidance. We now expect U.S. Healthcare Solutions operating income to be in the range of $2.44 billion to $2.48 billion, representing growth of 8% to 10%.

在我們的美國醫療保健解決方案部門，我們正在提高我們的營業收入指導的下限。我們現在預計美國醫療保健解決方案營業收入將在 24.4 億美元至 24.8 億美元之間，增長 8% 至 10%。

The guidance range reflects the strong performance the segment has shown to date, and continued strength in execution in the fourth quarter.

指導範圍反映了該部門迄今為止表現出的強勁表現，以及第四季度的持續執行力。

As a reminder, in the fourth quarter of fiscal 2021, we had elevated operating expenses as we made investments in our talent and growth initiatives. This impacts the year-over-year comparison for the segment in the quarter as we benefit from lapping those prior-year expenses.

提醒一下，在 2021 財年第四季度，隨著我們對人才和增長計劃的投資，我們提高了運營費用。這會影響本季度該細分市場的同比比較，因為我們受益於上一年的支出。

Turning now to International Healthcare Solutions. There is no change in our full-year guidance, but I would like to discuss the impact of foreign currency fluctuations on the segment.

現在轉向國際醫療保健解決方案。我們的全年指引沒有變化，但我想討論一下外匯波動對該部門的影響。

The International Healthcare Solutions segment has faced significant foreign exchange headwinds as a result of the strong dollar.

由於美元走強，國際醫療保健解決方案部門面臨著巨大的外匯逆風。

Since our second quarter earnings call in May, the dollar has continued to strengthen, increasing the expected foreign exchange impact on our actual dollar results for the fiscal year to approximately $130 million versus constant currency, up from our prior estimate of $80 million.

自 5 月第二季度財報電話會議以來，美元持續走強，將本財年實際美元業績的預期外匯影響從我們先前估計的 8000 萬美元增加到約 1.3 億美元。

Despite this headwind, our businesses have been performing well, and we are impressed with our team's strong execution.

儘管有這種逆風，我們的業務一直表現良好，我們對團隊的強大執行力印象深刻。

While the strong dollar has been a translation headwind for our reported results, there are some items that mitigate the impact. In May, I called out the larger-than-normal annual manufacturer price adjustment in the March quarter in a developing market that offset the negative impact of the decline in value of its local currency.

雖然強勢美元一直是我們報告結果的不利因素，但有一些項目可以減輕影響。 5 月，我在一個發展中市場呼籲在 3 月季度進行高於正常水平的年度製造商價格調整，以抵消當地貨幣貶值的負面影響。

Now, given the continued depreciation of that country's local currency and unusual second price adjustment was announced in July, which will offset currency pressure in our fourth quarter.

現在，鑑於該國當地貨幣的持續貶值以及 7 月份宣布的不尋常的第二次價格調整，這將抵消我們第四季度的貨幣壓力。

As I said in May, these price adjustments have historically been on an annual basis, but now, given the significant decline in the value of the local currency, a second unexpected price adjustment occurred, which will support our full-year results.

正如我在 5 月份所說，這些價格調整歷來是每年一次，但現在，鑑於當地貨幣價值大幅下跌，發生了第二次意外的價格調整，這將支持我們的全年業績。

Turning now to share count. We now expect average diluted shares outstanding for the fiscal year to be in the range of 211 million to 211.5 million, down from approximately 212 million as a result of the resumption of our share repurchase program in May.

現在轉向分享計數。我們現在預計本財年平均攤薄後流通股將在 2.11 億至 2.115 億股之間，低於 5 月恢復股票回購計劃後的約 2.12 億股。

In the June quarter, we repurchased $249 million of our shares and have approximately $1.1 billion remaining on our current Board-approved share repurchase authorizations.

在 6 月季度，我們回購了 2.49 億美元的股票，目前董事會批准的股票回購授權中剩餘約 11 億美元。

Lastly, we now expect adjusted free cash flow to be in the range of $2.3 billion to $2.5 billion and have raised the lower end of the previous range of $2 billion as we continue to have good cash flow trends in the business.

最後，我們現在預計調整後的自由現金流將在 23 億美元至 25 億美元之間，並且由於我們繼續在業務中擁有良好的現金流趨勢，因此已經提高了之前 20 億美元範圍的下限。

That concludes the updates to our fiscal 2022 guidance. While we are in the middle of our planning process for fiscal 2023, I want to repeat the earlier commentary that I gave at our Investor Day in June about our expected organic consolidated adjusted operating income and adjusted diluted EPS growth for fiscal 2023.

我們對 2022 財年指導的更新到此結束。雖然我們正處於 2023 財年的規劃過程中，但我想重複我在 6 月投資者日上發表的關於我們預期的 2023 財年有機綜合調整後營業收入和調整後攤薄每股收益增長的評論。

If you exclude the contribution from COVID treatment distribution, our operating income growth should be in the 5% range and EPS growth in the 8% range, again, ex COVID.

如果排除 COVID 治療分配的貢獻，我們的營業收入增長應該在 5% 範圍內，EPS 增長應該在 8% 範圍內，再次排除 COVID。

As it relates to the potential COVID contribution, trends and treatment utilization remain difficult to predict too far out but we continue to believe the contribution from COVID treatment distribution in 2023 could easily be less than half of the approximately $0.70 contribution included in our 2022 guidance.

由於它與潛在的 COVID 貢獻有關，因此趨勢和治療利用率仍然難以預測太遠，但我們仍然認為，2023 年 COVID 治療分配的貢獻可能很容易低於我們 2022 年指導中包含的約 0.70 美元貢獻的一半。

Our segment-level COVID contribution expectations remain unchanged for fiscal 2022. As a reminder, we expect about $0.60 of contribution in the U.S. segment and around $0.10 in the International segment.

我們對 2022 財年的部門級 COVID 貢獻預期保持不變。提醒一下，我們預計美國部門的貢獻約為 0.60 美元，國際部門的貢獻約為 0.10 美元。

As usual, we will provide our full, detailed fiscal 2023 guidance that is fully informed by our comprehensive planning process when we announce our fourth quarter results.

像往常一樣，我們將在宣布第四季度業績時提供全面、詳細的 2023 財年指導，這些指導完全由我們的綜合規劃流程提供。

Before I conclude my prepared remarks today, I would like to provide a brief update on our ESG efforts in progress. In June, AmerisourceBergen was honored to be invited to the White House as signatories of the administration's Health Sector Climate Pledge, alongside many of our peers in the healthcare industry.

在結束今天準備好的發言之前，我想簡要介紹一下我們正在進行的 ESG 工作。 6 月，AmerisourceBergen 很榮幸地被邀請到白宮作為政府衛生部門氣候承諾的簽署人，與我們在醫療保健行業的許多同行一起。

Signatories of the pledge commit to reducing greenhouse gas emissions while producing detailed plans to prepare their facilities and communities for climate impacts. These commitments align with our ESG strategy with one of the core pillars of our strategy being resilient and sustainable operations.

該承諾的簽署方承諾減少溫室氣體排放，同時制定詳細計劃，為其設施和社區做好應對氣候影響的準備。這些承諾與我們的 ESG 戰略相一致，我們戰略的核心支柱之一是彈性和可持續運營。

Other related efforts include our commitment to a set of science-based emissions reduction target. And in May, we submitted our draft target to the Science Based Targets Initiative for official validation.

其他相關努力包括我們對一套基於科學的減排目標的承諾。 5 月，我們將目標草案提交給基於科學的目標倡議進行官方驗證。

As I mentioned last quarter, we've also conducted fiscal risk assessments of our top 100 locations to inform our business strategy and continuity planning process.

正如我上個季度提到的，我們還對我們的前 100 個地點進行了財務風險評估，為我們的業務戰略和連續性規劃流程提供信息。

By having strong business resiliency plans and reducing our emissions footprint, we can help mitigate the impact of climate change and advance health equity, particularly in communities most vulnerable to climate change.

通過制定強有力的業務彈性計劃並減少我們的排放足跡，我們可以幫助減輕氣候變化的影響並促進健康公平，特別是在最容易受到氣候變化影響的社區。

While my comments today focus on our environmental efforts, AmerisourceBergen embraces all aspects of ESG. And in doing so, we live our purpose and help create healthier futures.

雖然我今天的評論集中在我們的環境工作上，但 AmerisourceBergen 包含 ESG 的所有方面。在這樣做的過程中，我們實現了我們的目標並幫助創造更健康的未來。

To close, AmerisourceBergen has proven its ability to deliver strong results throughout each phase of the pandemic, driven by the talent and execution of our 42,000 team members, the resilience of our pharmaceutical-centric businesses and supported by the strength of our balance sheet.

結束時，AmerisourceBergen 已證明其有能力在大流行的每個階段取得強勁的成果，這得益於我們 42,000 名團隊成員的才能和執行力、我們以製藥為中心的業務的彈性以及我們資產負債表的實力。

As we look ahead in the complex economic environment globally, AmerisourceBergen is well positioned strategically, operationally and financially to continue to deliver sustainable earnings, strong cash flow and long-term value for all our stakeholders.

當我們展望全球複雜的經濟環境時，AmerisourceBergen 在戰略、運營和財務方面處於有利地位，可以繼續為所有利益相關者提供可持續的收益、強勁的現金流和長期價值。

Thank you all for your interest in AmerisourceBergen. And now I will turn the call over to the operator to begin our Q&A. Operator?

感謝大家對 AmerisourceBergen 的關注。現在我將把電話轉給接線員開始我們的問答。操作員？

(Operator Instructions) And our first question comes from Elizabeth Anderson at Evercore.

（操作員說明）我們的第一個問題來自 Evercore 的 Elizabeth Anderson。

And thanks for all the details on the back half guidance. I was wondering, given all the puts and takes that you've been talking about and sort of trying to establish, as you said, sort of like whatever phase you are in the pandemic, like run rate trends, can you talk about the underlying volume growth assumptions in not only your -- what happened in the third quarter and then sort of underlying your guidance in the fourth quarter?

並感謝後半部分指導的所有細節。我想知道，考慮到你一直在談論的所有看跌期權，並試圖建立，就像你所說的，有點像你在大流行中的任何階段，比如運行率趨勢，你能談談潛在的不僅是您的銷量增長假設 - 第三季度發生了什麼，然後是您在第四季度的指導？

I'm just trying to sort of parse out, like where you're seeing strength in those and relative areas of weakness in both the sort of visits and sort of core retail scripts versus maybe some of the mail acceleration that you talked about in both the U.S. and Europe?

我只是想分析一下，比如你在訪問類型和核心零售腳本類型中看到了這些方面的優勢和相對弱點的地方，而不是你在兩者中談到的一些郵件加速美國和歐洲？

Yes. So thanks a lot for that question, Elizabeth. And I'd say, overall, what we're seeing across our business is resilience and strength. And of course, those are words we used a lot in the prepared remarks.

是的。非常感謝伊麗莎白的這個問題。我想說，總的來說，我們在整個業務中看到的是彈性和實力。當然，這些是我們在準備好的評論中經常使用的詞。

But getting kind of a little bit more into the detail, we are seeing strong underlying fundamentals. We're seeing good utilization trends, and we're seeing good volumes both in the U.S. and International, and I described this as being in line or somewhat ahead of our expectations.

但更深入一點，我們看到了強大的基本面。我們看到了良好的利用率趨勢，我們在美國和國際上都看到了良好的銷量，我將其描述為符合或略高於我們的預期。

We're definitely aided by our leadership in specialty distribution, and that's allowed us to capture the strong trends there, the benefits of the strong specialty utilization trends, which we would expect to continue.

我們在專業分銷方面的領導地位無疑為我們提供了幫助，這使我們能夠捕捉那裡的強勁趨勢，以及強大的專業利用趨勢的好處，我們希望這種趨勢會繼續下去。

And so that's one area where we've seen strong trends, and you did comment, as we did in our prepared remarks, that we did see some increased volumes in mail also during the quarter.

因此，這是我們看到強勁趨勢的一個領域，您確實評論說，正如我們在準備好的評論中所做的那樣，我們確實看到本季度的郵件量也有所增加。

But overall, I think that we've just continued to demonstrate resilience and strength in the various phases of the pandemic as we look over the last 2.25 years or so, the fundamentals and the utilization trends have really been quite good.

但總的來說，我認為在過去 2.25 年左右的時間裡，我們在大流行的各個階段都繼續表現出韌性和實力，基本面和使用趨勢確實非常好。

And we're seeing really the same thing in the various phases of the economic cycle. We're continuing to see strong fundamentals and utilization trends really, across our businesses in the U.S. and International, which is largely due, of course, to the pharmaceutical-centric nature of our businesses.

我們在經濟周期的不同階段看到了同樣的情況。我們在美國和國際的業務中繼續看到強勁的基本面和使用趨勢，這當然主要是由於我們業務以製藥為中心的性質。

Our next question comes from Lisa Gill at JPMorgan.

我們的下一個問題來自摩根大通的 Lisa Gill。

First, I just want to start, Jim, with your comments initially around 2023 and just get your thoughts on how you're thinking about foreign exchange. You talked about the dollar being stronger, and you didn't specifically call that out as we think about 2023. So that would be my first question.

首先，吉姆，我只想從您最初在 2023 年左右發表的評論開始，然後談談您對外彙的看法。你談到美元走強，但在我們考慮 2023 年時，你並沒有特別指出這一點。所以這將是我的第一個問題。

And then second, more broadly speaking, just given your position on how strong you are in the specialty side and given what we're seeing on the biosimilar side, can you talk about -- was there any impact in the quarter from biosimilars? And how do you think about biosimilars over the next couple of years as we have a number of drugs that will lose patent protection?

其次，更廣泛地說，鑑於您在專業方面的實力以及我們在生物仿製藥方面看到的情況，您能談談 - 生物仿製藥對本季度有什麼影響嗎？您如何看待未來幾年的生物仿製藥，因為我們有許多將失去專利保護的藥物？

Okay. Well, I'll start out and talk about 2023. And importantly, there's really no change from what we indicated during our Investor Day. On a consolidated basis, what we'd expect is organic operating income growth of 5% and then an incremental 3% from capital deployment, whether that be share repurchases or M&A. So we'd expect EPS growth of 8% on a consolidated basis. Of course, that's ex COVID. So you'd have to start by taking 2022 and subtracting out the [times] $0.70 expected benefit from COVID and then grow 8% from there and then add back in whatever the assumption would be for COVID in 2023.

好的。好吧，我將開始談論 2023 年。重要的是，與我們在投資者日期間所表明的內容相比，確實沒有任何變化。在綜合基礎上，我們預計有機營業收入增長 5%，然後資本配置增加 3%，無論是股票回購還是併購。因此，我們預計每股收益在綜合基礎上增長 8%。當然，那是前COVID。因此，您必須從 2022 年開始，減去 COVID 帶來的 0.70 美元的預期收益，然後從那裡增長 8%，然後再加上 2023 年 COVID 的任何假設。

And we're seeing a lot of the drivers in 2022 continue to be drivers in 2023, continued strength in our U.S. businesses. Clearly, our leadership in specialty will continue to benefit us. And then when it comes to International, as I said we're seeing, the business is performing well with good fundamentals.

而且我們看到 2022 年的許多驅動因素在 2023 年仍然是驅動因素，我們的美國業務將繼續保持強勁勢頭。顯然，我們在專業領域的領先地位將繼續使我們受益。然後談到國際，正如我所說，我們看到，業務表現良好，基本面良好。

Now two things that we are monitoring in International: of course, our FX, which you've mentioned; and inflation also. And both those things will impact fiscal year '23.

現在我們在國際上監控兩件事：當然，你提到的我們的外匯；還有通貨膨脹。這兩件事都會影響到 23 財年。

And there have been some offsets -- on some offsets to FX in fiscal year '22, including the price adjustments that we saw in the developing country, Turkey, which have helped to offset some of the FX impacts in fiscal year '22.

並且有一些抵消——在 22 財年對外彙的一些抵消，包括我們在發展中國家土耳其看到的價格調整，這有助於抵消 22 財年的一些外匯影響。

And when we report fiscal year '23 results, and when we're discussing International, we'll discuss it on a constant currency basis, in addition to a as-reported basis.

當我們報告 '23 財年的結果時，當我們討論國際時，我們將在固定貨幣基礎上討論它，除了報告的基礎。

But overall, we feel very good about '23 as where we've done doing our planning. We're going through a detailed planning process now, and we feel very good about '23 and feel very good about the fundamentals in the business.

但總的來說，我們對 23 年的計劃感覺非常好。我們現在正在經歷一個詳細的規劃過程，我們對 23 年感覺非常好，對業務的基本面感覺非常好。

And as I said before, there's really kind of no change to our initial thinking that we talked about at Investor Day, ex COVID operating income, organic growth of 5% and an incremental 3% from capital deployment or EPS growth of 8%.

正如我之前所說，我們在投資者日談到的最初想法確實沒有改變，除 COVID 營業收入外，有機增長 5% 和資本部署增量 3% 或每股收益增長 8%。

Yes. Lisa, on the biosimilars, we continue to see positive trends in biosimilars. In fact, there was a recent announcement in the ophthalmology space, which is our sweet spot, the Part B side, and we'll see how that goes. We'll certainly keep you updated. Therapeutic comparability and good contracting support are helping enable physician utilization and taking cost out of the system, which will make more room for innovation.

是的。 Lisa，在生物仿製藥方面，我們繼續看到生物仿製藥的積極趨勢。事實上，最近在眼科領域發布了一個公告，這是我們的最佳選擇，即 B 部分，我們將拭目以待。我們一定會及時通知您。治療可比性和良好的合同支持有助於提高醫生的利用率並降低系統成本，這將為創新提供更多空間。

And we are very encouraged by the biosimilar that -- we don't specifically call it out, but it's part of the general growth of our strong specialty position in health systems and in physician practices, including oncology. But as we just had noted in ophthalmology, we're going to see an important launch as well.

我們對生物仿製藥感到非常鼓舞——我們沒有特別指出它，但它是我們在衛生系統和醫師實踐（包括腫瘤學）中強大的專業地位總體增長的一部分。但正如我們剛剛在眼科中提到的那樣，我們也將看到一個重要的發布。

So we also are noting regulatory enhancements, including interchangeability, on some of the molecules. So this is a very dynamic space in which AmerisourceBergen was clearly an early adopter, and we expect to strongly participate in the system in the launch of these drugs, particularly on the Part B side. Thanks.

因此，我們還注意到一些分子的監管增強，包括可互換性。因此，這是一個非常動態的空間，AmerisourceBergen 顯然是早期採用者，我們希望在這些藥物的推出中大力參與系統，特別是在 B 部分方面。謝謝。

Our next question comes from Eric Percher at Nephron Research.

我們的下一個問題來自 Nephron Research 的 Eric Percher。

I'd like to drill into Turkey just a little bit more. And I know that operators that you have, have long experience in International.

我想再深入土耳其一點。而且我知道您擁有的運營商在國際業務方面擁有豐富的經驗。

So question one would be what you're seeing in Turkey with hyperinflation and the price adjustment, have you seen this in other countries before? And maybe I'll ask you if you can just once more help us on the mechanics on the P&L.

所以問題之一是你在土耳其看到的惡性通貨膨脹和價格調整，你以前在其他國家看到過嗎？也許我會問你是否可以再一次幫助我們處理損益表的機制。

And then on the balance sheet, am I right in seeing the adjustment this quarter as completely related to the balance sheet, the $28 million? And is that a revaluation owing to the hyperinflation?

然後在資產負債表上，我是否認為本季度的調整與資產負債表完全相關，即 2800 萬美元？這是由於惡性通貨膨脹而導致的重估嗎？

Yes, sure. I'd be happy to take that question, and thank you for asking it. And first of all, I think you're absolutely right. We've been very pleased with the management team at Alliance. And of course, they have a lot of experience in their markets and really have just shown a lot of expertise in managing the business.

是的，當然。我很樂意接受這個問題，並感謝您提出這個問題。首先，我認為你是絕對正確的。我們對 Alliance 的管理團隊感到非常滿意。當然，他們在市場上擁有豐富的經驗，並且在管理業務方面確實表現出了很多專業知識。

With regard to your question on the Turkey high inflation accounting, which was covered in our press release today, very importantly, there's no change in how we translate the P&L of Alliance Healthcare's Turkish subsidiary in our adjusted results. The -- just as you were saying.

關於您在我們今天的新聞稿中提到的關於土耳其高通脹會計的問題，非常重要的是，我們在調整後的結果中轉換 Alliance Healthcare 土耳其子公司的損益的方式沒有變化。 ——正如你所說。

And when you asked the question, the GAAP to non-GAAP adjustments relate to the accounting impact of remeasuring various components of their balance sheet. And of course, on a consolidated basis, Turkey is a very small part of our overall results, but I will get into a little bit more detail here.

當你問這個問題時，GAAP 對非 GAAP 的調整與重新衡量資產負債表各個組成部分的會計影響有關。當然，在綜合基礎上，土耳其只是我們整體業績的一小部分，但我會在這裡更詳細地介紹一下。

The GAAP accounting items, driven by Turkey becoming a highly inflationary economy, is fine under U.S. GAAP. And the result is remeasurement of lira-denominated assets and liabilities at each balance sheet date, using the U.S. dollar exchange rate then in effect, and that impacts are recorded in our P&L.

在土耳其成為一個高度通貨膨脹的經濟體的推動下，GAAP 會計項目在美國 GAAP 下是可以的。結果是在每個資產負債表日，使用當時有效的美元匯率重新計量以里拉計價的資產和負債，並將影響記錄在我們的損益表中。

And previously, that translation was recorded as an adjustment to their -- to equity on our balance sheet. And there is a detailed discussion of this in our 10-Q, but I think very importantly, there's no change in how we translate the P&L of Alliance's Turkish subsidiary and our adjusted results.

以前，這種轉換被記錄為對我們資產負債表上股權的調整。我們的 10-Q 對此進行了詳細討論，但我認為非常重要的是，我們如何翻譯 Alliance 土耳其子公司的損益表和調整後的結果沒有變化。

And with respect to the P&L, it sounds like the adjustment being made by the manufacturer, it's in their interest to make that adjustment, given hyperinflation. You don't really have a bearing on that, but it helps offset. Is that the right way to think of it?

關於損益表，這聽起來像是製造商正在進行的調整，考慮到惡性通貨膨脹，進行這種調整符合他們的利益。您對此並沒有真正的影響，但它有助於抵消。這是正確的思考方式嗎？

Yes. And so the way that it works there is, due to the currency devaluation that's happened, there's an annual price increase that happens. And that annual price increase is based on the value of the Turkish lira versus a basket of currencies, and that price increase happens every year.

是的。所以它的運作方式是，由於發生的貨幣貶值，每年都會發生價格上漲。每年的價格上漲是基於土耳其里拉對一籃子貨幣的價值，而且價格每年都會上漲。

And this year, that price increase was particularly large, and there's actually been 2 of them because the devaluation has been higher than typical.

而今年，價格漲幅特別大，實際上有兩次，因為貶值幅度高於正常水平。

Our next question comes from Charles Rhyee at Cowen.

我們的下一個問題來自 Cowen 的 Charles Rhyee。

I just wanted to follow up on International a little bit more and maybe fold into what Eric was asking, but -- so you maintain the full-year Alliance EBIT guide, right, [685] to [715].

我只是想更多地跟進國際，也許會加入埃里克的要求，但是 - 所以你保持全年聯盟息稅前利潤指南，對，[685] 到 [715]。

And I think, Jim, you said last quarter, because of the currency headwind, you expect to kind of come in towards the lower end, it sounds like now you're saying though that currency has gone even worse, we're maintaining the guidance. So clearly, it kind of suggests that underlying operating performance has been better.

而且我認為，吉姆，你上個季度說過，由於貨幣逆風，你預計會進入低端，聽起來現在你在說雖然貨幣變得更糟，但我們維持指導。很明顯，這表明潛在的經營業績更好。

I guess two questions has been -- when we think about then modeling fiscal '23, should we be -- and assuming currency stays flat, are we actually -- should be [modeling], on a constant currency basis, let's say, an EBIT profile that's higher than the 685 to 715 range?

我想有兩個問題是——當我們考慮對 23 財年建模時，我們是否應該——假設貨幣保持不變，我們實際上是不是——應該[建模]，在恆定貨幣的基礎上，比方說，一個高於 685 至 715 範圍的 EBIT 概況？

And then secondly, or is some of this -- how much of the benefit that keeps us in the range, is coming from maybe something like Turkey?

其次，或者其中的一些——讓我們保持在這個範圍內的好處有多少，可能來自像土耳其這樣的地方？

Yes, sure. And so there are really two things that keep us in the range. One is the second price increase in Turkey that we talked about. And then really the other thing is just very strong performance out of World Courier. We're seeing just a particularly strong performance there.

是的，當然。所以實際上有兩件事讓我們保持在範圍內。一是我們談到的土耳其的第二次漲價。然後真正的另一件事是 World Courier 的表現非常出色。我們在那裡看到了特別強勁的表現。

World Courier has had a long history of growth and good margins. And what we've seen in the most recent quarter is higher rates of World Courier shipments and also World Courier of receiving good value from manufacturers for the services that we provide.

World Courier 擁有悠久的增長歷史和良好的利潤率。我們在最近一個季度看到的是 World Courier 的發貨率更高，而且 World Courier 從製造商那裡獲得了我們提供的服務的良好價值。

And so those are really the two things that are enabling us to maintain our guidance for the International business and fully offset what we've seen from an FX standpoint.

因此，這兩件事確實使我們能夠維持對國際業務的指導並完全抵消我們從外匯角度看到的情況。

And like I said, when we talk about fiscal year '23 and report fiscal year '23, we'll do that and talk about it on both a constant currency basis and an as-reported basis.

就像我說的那樣，當我們談論 '23 財政年度和報告 '23 財政年度時，我們會這樣做並在固定貨幣基礎和報告基礎上討論它。

Great. And just a follow-up on World Courier. Obviously, you've been highlighting how strong it's been performing. When you look at some of the CROs that have been reporting, some have talked about potential slowdown in R&D, just kind of delays or cancellations. Others seem to have reported fine results.

偉大的。只是對 World Courier 的跟進。顯然，你一直在強調它的表現有多強。當您查看一些一直在報告的 CRO 時，有些人談到了研發的潛在放緩，只是延遲或取消。其他人似乎報告了很好的結果。

Just maybe, what you're seeing in sort of the clinical trial space as it relates to World Courier?

只是也許，您在與 World Courier 相關的臨床試驗空間中看到了什麼？

So thanks. We did have a strong quarter with World Courier as we've got a bunch of higher-rate shipments, and the team is driving value on incremental services we provide, including our home, direct-to-patient services, which are important for in-home trials, and there's certainly been a development out of the pandemic.

那謝謝啦。我們確實在 World Courier 上度過了一個強勁的季度，因為我們有大量更高的出貨量，並且團隊正在推動我們提供的增量服務的價值，包括我們的家庭、直接面向患者的服務，這對於在-家庭試驗，而且大流行肯定有發展。

But World Courier's expertise and reputation in helping customers navigate the complexity of global logistics is very well established. We've owned the business for, coming on, 10 years now. And I'm proud of the investment we have made in allowing World Courier to deliver [best-in-class] solutions while seeing a rapid growth.

但 World Courier 在幫助客戶應對複雜的全球物流方面的專業知識和聲譽已經非常成熟。我們已經擁有這項業務 10 年了。我為我們在讓 World Courier 提供 [一流] 解決方案同時實現快速增長方面所做的投資感到自豪。

And there's been a really long history of growth and good margins, which we expect to continue into Q4 and hopefully into next year and the future as well.

增長和良好利潤率的歷史非常悠久，我們預計這將持續到第四季度，並有望持續到明年和未來。

Our next question comes from Steven Valiquette at Barclays.

我們的下一個問題來自巴克萊的 Steven Valiquette。

So just a couple of interrelated questions on generic drug pricing. Yes. Just for some of the third-party data that's tracked by investors, there was a bit of an inflection in recent months on some moderation of generic drug price deflation. I guess I'm just wondering if you're also seeing any changes from your own [viewpoint] of the market?

所以只是關於仿製藥定價的幾個相互關聯的問題。是的。僅就投資者追踪的一些第三方數據而言，最近幾個月仿製藥價格通縮有所緩和。我想我只是想知道您是否也從您自己的 [觀點] 市場看到了任何變化？

And then, also tied into this, is there any early view that generic drug manufacturers are maybe looking to raise prices to offset some of the inflation that they're seeing in their own higher cost of generic drug manufacturing?

然後，與此相關的是，是否有任何早期觀點認為仿製藥製造商可能正在尋求提高價格以抵消他們在仿製藥製造成本上升中看到的部分通貨膨脹？

Yes. So with regard to your question on generic deflation, it's been in line with the past few years. It's been in line with our expectations. Supply and demand remain in balance.

是的。所以關於你關於通貨緊縮的問題，這與過去幾年是一致的。這符合我們的預期。供需保持平衡。

And as we talked about before, our business is not as reliant on generic pricing as it has been in the past. Our teams have done a very good job of rebalancing contracts and ensuring that we receive fair compensation across brand, generic and specialty, which is important, especially as more specialty goes through mail and retail.

正如我們之前所說，我們的業務不像過去那樣依賴通用定價。我們的團隊在重新平衡合同方面做得非常好，並確保我們在品牌、通用和專業方面獲得公平的補償，這很重要，尤其是在更多專業通過郵寄和零售的情況下。

And with regard to potential generic inflation, there certainly are higher input costs for manufacturers, and it remains to be seen if they'll be able to pass on the higher cost.

而對於潛在的普遍通脹而言，製造商的投入成本肯定會更高，他們是否能夠轉嫁更高的成本還有待觀察。

We're not currently expecting generic inflation. But if that does occur, of course, it would be a tailwind for our business. But as a reminder, as I said, due to our contract rebalancing, our business model isn't as reliant on generic pricing as it once was. Thank you for the question.

我們目前預計不會出現普遍通脹。但如果這種情況確實發生，當然，這對我們的業務來說將是順風。但提醒一下，正如我所說，由於我們的合同再平衡，我們的商業模式不像以前那樣依賴通用定價。感謝你的提問。

Our next question comes from Kevin Caliendo of UBS.

我們的下一個問題來自瑞銀的 Kevin Caliendo。

First, I guess, on the Animal Health segment, MWI, on a year-over-year basis, was the contribution better or worse? What's happening with that business in terms of growth and margin on a year-over-year basis?

首先，我想，在動物健康領域，MWI 的貢獻是好還是壞？該業務在同比增長和利潤率方面發生了什麼？

And then as a follow-up, you mentioned that ophthalmology, you're seeing encouraging signs in the ophthalmology business. What exactly do you mean by that? Is that biosimilar possibilities? Or is that just straight supply/demand?

然後作為後續行動，您提到了眼科，您在眼科業務中看到了令人鼓舞的跡象。你到底是什麼意思？這是生物仿製藥的可能性嗎？或者這只是直接的供需關係？

I can start with the ophthalmology business, and then we'll let Jim, who's the expert, of course, on MWI, talk about it. Our specialty physician services business, we have talked a lot about increasing our services to other physicians as the formulary increases as there's more products available in the administration area.

我可以先從眼科業務開始，然後我們讓吉姆，當然，MWI 方面的專家，來談談它。我們的專科醫師服務業務，我們已經談論了很多關於增加我們對其他醫師的服務，因為隨著行政區域中有更多可用產品，處方集增加。

And probably ophthalmology is our second largest area after oncology. That's been an area where we've been very involved, particularly with the launch of [Alliance] many years ago, was really what got us into that business. And we continue to develop services.

眼科可能是我們僅次於腫瘤學的第二大領域。這是我們一直非常參與的一個領域，特別是多年前 [Alliance] 的推出，確實是我們進入該行業的原因。我們繼續開發服務。

And as they are biosimilars and as there are more therapies available for in-office administration and physicians have, for over a decade, become used to administering products, there's more relevance for what we call our IPN network and our basic medical distribution, which are fundamental parts of our [SBS] business.

由於它們是生物仿製藥，並且有更多的治療方法可用於辦公室管理，而且十多年來，醫生已經習慣於管理產品，因此與我們所謂的 IPN 網絡和我們的基本醫療分佈更加相關，它們是我們 [SBS] 業務的基本組成部分。

So we see growth there and we see a high market share, which we've always enjoyed in that segment, consistent with or even higher than our oncology market share rate. So it's just a robust area for us. And particularly, we look forward to the opportunity to assist physicians in adopting biosimilars. So that's really -- Jim, hand over to you on MWI.

因此，我們看到了那裡的增長，我們看到了我們在該領域一直享有的高市場份額，與我們的腫瘤市場份額一致甚至更高。所以這對我們來說只是一個強大的領域。特別是，我們期待有機會幫助醫生採用生物仿製藥。那真的是-- Jim，在MWI 上交給你。

Yes. So during the quarter, MWI had growth during the quarter, had revenue growth during the quarter, but that -- but the growth rate was lower than it had been in fiscal year '20 or '21. And of course, as you well know, there are a lot of pet adoptions during the pandemic and really good growth in the companion animal business, in particular, during the first part of the pandemic.

是的。因此，在本季度，MWI 在本季度實現了增長，在本季度實現了收入增長，但增長率低於 20 財年或 21 財年。當然，眾所周知，在大流行期間有很多寵物收養，伴侶動物業務增長非常好，特別是在大流行的第一階段。

And so some of the comps were a little bit tougher now for MWI. But it still had growth in them. And it's a very strong business, and we have kind of very good confidence in the long-term prospects of both the animal health market and our MWI business.

因此，對於 MWI 來說，一些比賽現在變得更加艱難。但它仍然在他們身上成長。這是一項非常強大的業務，我們對動物保健市場和我們的 MWI 業務的長期前景充滿信心。

Our next question comes from George Hill at Deutsche Bank.

我們的下一個問題來自德意志銀行的 George Hill。

And I hopped on a little bit late, so I apologize if you guys covered this. But Jim, maybe could you talk about the outlook for COVID therapies as it looks like the COVID market is going to prove to be a little bit more durable than you might have thought 3 or 5 months ago, so maybe kind of the contribution of COVID therapy is the evolution? And how you guys are thinking about durability?

而且我跳得有點晚了，所以如果你們報導了這個，我很抱歉。但是吉姆，也許你能談談 COVID 療法的前景，因為看起來 COVID 市場將被證明比你 3 或 5 個月前想像的更持久，所以也許是 COVID 的貢獻療法是進化的？你們是如何考慮耐用性的？

Yes, I'll start out here. We've been really transparent about our contribution from COVID therapies. And in Q3, our contribution from COVID therapies was $0.14 on an -- for EPS versus $0.03 in the same quarter last year as we -- we're shifting volumes of the government-owned emergency-use authorization pills.

是的，我將從這裡開始。我們對 COVID 療法的貢獻非常透明。在第三季度，我們對 COVID 療法的貢獻為 0.14 美元——每股收益為 0.03 美元，而去年同期為 0.03 美元——我們正在轉移政府擁有的緊急使用授權藥丸的數量。

And that's -- and we're kind of keeping our guidance for the full year in the U.S. of $0.60 and, on a consolidated basis, $0.70 including International.

那就是 - 我們將美國全年的指導保持在 0.60 美元，在綜合基礎上，包括國際，0.70 美元。

And so if we -- compared to what we would have thought a year ago, it's certainly been a lot more durable than we would have thought. And it is something that is hard to predict and estimate.

因此，如果我們 - 與我們一年前的想法相比，它肯定比我們想像的要耐用得多。這是很難預測和估計的。

And so that's why when we talk about our guidance for fiscal year '23, we say, we'll do our guidance ex COVID. And that 8% EPS growth rate that we talked about, the ex COVID, so backout COVID growth 8%, and then make an assumption for COVID and add that on top.

這就是為什麼當我們談論我們對 '23 財年的指導時，我們說，我們將在 COVID 之前做我們的指導。而我們談到的 8% 的 EPS 增長率，即前 COVID，因此取消了 8% 的 COVID 增長，然後對 COVID 做出假設並將其添加到頂部。

Yes. One other point, we were pleased to see the FDA update its EUA for Paxlovid, making it easier for patients to access treatments at pharmacies. And we're really proud of the increased role that pharmacists will be playing in patient care.

是的。還有一點，我們很高興看到 FDA 更新了 Paxlovid 的 EUA，使患者更容易在藥房獲得治療。我們真的為藥劑師將在患者護理中發揮更大的作用而感到自豪。

And I think that, that's -- as I said in my prepared remarks, that's a tremendous access to consumers and patients as they look to access these treatments conveniently.

我認為，正如我在準備好的評論中所說，這是一個巨大的接觸消費者和患者的機會，因為他們希望方便地獲得這些治療。

So when we think about living our purpose during the pandemic, there's nothing more -- there's nothing that embodies it more than the work we've done with these EUA products, and AmerisourceBergen and our associates are tremendously proud of it. So this is definitely something that has been distinguishing us in the last couple of years.

因此，當我們考慮在大流行期間實現我們的目標時，沒有什麼比我們用這些 EUA 產品所做的工作更能體現它的了，AmerisourceBergen 和我們的員工為此感到非常自豪。因此，這絕對是過去幾年中我們與眾不同的地方。

Our next question comes from A.J. Rice at Credit Suisse.

我們的下一個問題來自 A.J.瑞信的賴斯。

I might just take a second and ask you about the capital priorities and any updated thoughts on that. I know you've called out that you continue to pay down debt that you took on associated with clients, and you also highlighted continued availability for share repurchases.

我可能會花點時間問你關於資本優先事項和任何更新的想法。我知道您已經呼籲您繼續償還與客戶相關的債務，並且您還強調了股票回購的持續可用性。

Maybe just updated thoughts on priorities, looking out over the next 6 to 12 months, and anything else that will be a major consumption or outlay point for capital deployment.

也許只是更新了對優先事項的想法，展望未來 6 到 12 個月，以及任何其他將成為資本部署的主要消耗或支出點的事情。

Yes. So yes. So our capital deployment approach, of course, remains similar to what it's been for quite some time, of course, investing in the business, where we have great returns; strategic M&A, share repurchases, of course, having a reasonable dividend on our stock, and we've steadily increased the dividend that we paid.

是的。所以是的。因此，我們的資本部署方法當然與相當長一段時間以來的做法相似，當然，投資於我們獲得豐厚回報的業務；戰略併購，股票回購，當然，我們的股票有合理的股息，我們已經穩步增加了我們支付的股息。

We have been paying down debt, and we will meet or beat our time frame for paying down 2/3 of the Alliance acquisition debt.

我們一直在償還債務，我們將達到或超過我們償還 2/3 聯盟收購債務的時間框架。

And also, we started repurchasing shares earlier than we anticipated. We started repurchasing shares in the month of May. We saw a good opportunity to do that. We've repurchased about 250 million during the quarter.

而且，我們開始回購股票的時間比我們預期的要早。我們從五月份開始回購股票。我們看到了這樣做的好機會。我們在本季度回購了大約 2.5 億美元。

And as a Board meeting after that, our Board increased our share repurchase authorization to $1 billion. So we have about $1.1 billion in total authorizations now, and we would look forward to any share repurchase opportunities in fiscal year '23.

在那之後的董事會會議上，我們的董事會將我們的股票回購授權增加到了 10 億美元。因此，我們現在擁有約 11 億美元的總授權，我們期待在 23 財年有任何股票回購機會。

This concludes our Q&A session. I would now like to turn over to CEO, Steve Collis, for any final remarks.

我們的問答環節到此結束。我現在想請首席執行官史蒂夫·科利斯 (Steve Collis) 發表最後的評論。

Thank you, everyone, for your attention on this busy Wednesday morning. AmerisourceBergen and Jim and I and Bennett are pleased and proud to have delivered another strong quarter and another guidance raise.

感謝大家在這個忙碌的星期三早上的關注。 AmerisourceBergen 和 Jim 以及我和 Bennett 很高興和自豪地實現了另一個強勁的季度和另一個指導性的提高。

Our business, our talent and our capabilities we have been on show throughout this quarter and throughout the pandemic. And, historically, throughout various economic cycles, AmerisourceBergen has demonstrated tremendous resilience.

我們的業務、人才和能力在本季度和整個大流行期間一直在展示。而且，從歷史上看，在各個經濟周期中，AmerisourceBergen 都表現出巨大的韌性。

We are well positioned strategically, with a strong track record of execution to continue to deliver long-term value for all of our stakeholders. This concludes our remarks. Thank you for your time.

我們在戰略上處於有利地位，擁有良好的執行記錄，可以繼續為我們所有的利益相關者創造長期價值。我們的發言到此結束。感謝您的時間。

Thank you, everyone, for joining today's conference call. You may now disconnect.

謝謝大家參加今天的電話會議。您現在可以斷開連接。