McKesson announced a new distribution pact with CVS Health for Target pharmacies in updating its earnings outlook for fiscal 2016 and providing preliminary guidance for fiscal 2017.
McKesson announced a new distribution pact with CVS Health for Target pharmacies in updating its earnings outlook for fiscal 2016 and providing preliminary guidance for fiscal 2017. McKesson said that for the 2016 fiscal year ending March 31, it now projects adjusted earnings per diluted share of $12.60 to $12.90, compared with $12.50 to $13.00 previously. “While we continue to drive growth across our broad and diverse businesses, we now expect the operating performance in our U.S. Pharmaceutical distribution business in the second half of fiscal 2016 will be below our previous expectations,” said McKesson chairman and CEO John Hammergren. “Despite our revised assumptions related to generic pharmaceutical pricing trends and the impact of recent customer consolidation, our company is performing well, both domestically and internationally, and we continue to focus on our customers’ success in this dynamic environment,” Hammergren continued. “In fact, I am pleased to report that in late December, we signed a new agreement with CVS Health to serve as the distribution partner for their recently acquired Target in-store pharmacies.” McKesson will supply the 1,600-plus Target pharmacies, being rebranded as CVS/pharmacy.
Date: January 13, 2016
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.