McKesson to spin off surgical supplies unit, forecasts strong annual profit
Shares of the drug distributor rose 2% in extended trading.
The company said separation of the unit, which supplies surgical instruments and services, will allow it to focus on distribution of cancer drugs and other specialty medicines, which have shown higher growth and provide better margins.
Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as cancer and rheumatoid arthritis, due to their high profit margins.
Texas-headquartered McKesson expects per-share profit in the range of $36.75 to $37.55 for fiscal 2026, compared with analysts' average estimate of $36.76, according to data compiled by LSEG.
The company reported fourth-quarter revenue of $90.8 billion, missing analysts' average estimate of $94.3 billion.
On an adjusted basis, McKesson earned $10.12 per share, compared with the estimates of $9.82 per share.
The drug distributor's U.S. pharmaceutical unit — its largest segment by revenue — recorded sales of $83.2 billion. That was 21% higher than the year earlier, driven by sales of cancer drugs, but missed analysts' estimate of $85.8 billion.
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