Latest news with #specialtymedicines
Reuters
5 days ago
- Business
- Reuters
Mckesson lifts annual profit forecast on robust demand for specialty drugs
Aug 6 (Reuters) - U.S. drug distributor McKesson (MCK.N), opens new tab raised its annual profit forecast and beat Wall Street earnings estimates on Wednesday, banking on robust demand for specialty medicines. High profit margins for specialty medicines, which treat complex conditions such as rheumatoid arthritis and cancer, have encouraged companies to expand in the market. Texas-headquartered Mckesson expects per-share profit in the range of $37.10 to $37.90 for fiscal 2026, compared to its previous expectation of $36.90 to $37.70. Analysts on average expect a profit of $37.41 per share, according to data compiled by LSEG. Earlier in the day, peer Cencora (COR.N), opens new tab also raised its annual profit forecast and posted quarterly earnings that topped Wall Street estimates. Mckesson reported first-quarter revenue of $97.83 billion, beating analysts' average estimate of $96.08 billion. The company said it benefited from increased prescription volumes from retail national account customers, growth in the distribution of specialty products and contributions from acquisitions. On an adjusted basis, McKesson earned $8.26 per share, compared with estimates of $8.15. The drug distributor's U.S. pharmaceutical unit — its largest segment by revenue — recorded sales of $89.95 billion. That was 25% higher than the year earlier and beat analysts' estimate of $89.52 billion. Last quarter, Mckesson said it would spin off its medical-surgical solutions unit into an independent company to focus on its core drug distribution business.
Reuters
09-05-2025
- Business
- Reuters
McKesson to spin off surgical supplies unit, forecasts strong annual profit
May 8 (Reuters) - McKesson (MCK.N), opens new tab forecast fiscal 2026 profit largely above estimates on Thursday and said it is planning to spin off its medical-surgical solutions unit into an independent company to focus on its core drug distribution business. 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.
