Market Overview

McKesson Announces Acquisitions That Expands Its Oncology Expertise

Share:

McKesson Corporation (NYSE: MCK) announced on Thursday two separate acquisitions to increase its specialty pharmaceutical distribution scale and oncology-focused pharmacy offerings, solutions for manufacturers and payers, and scope of community-based oncology and practice management services.

McKesson acquired Vantage Oncology, a provider of rational oncology, medical oncology and other cancer care. In a second transaction, the company acquired Biologics, the largest independent oncology-focused specialty pharmacy in the US.

McKesson noted that the value of the two transactions totaled $1.2 billion and is expected to be approximately $0.11 accretive to its adjusted earnings per share in fiscal 2017.

"McKesson is committed to the success of our community oncology partners and customers and we believe the acquisitions of Vantage and Biologics complement our holistic approach to providing best–in-class care for oncology patients," said John Hammergren, chairman and chief executive officer, McKesson Corporation. "These investments will broaden McKesson's practice management services and solutions that allow oncologists to focus on providing excellent patient care and provide additional support solutions that enhance care delivery for patients. We will also be able to offer additional value-added services to our manufacturer partners, expand our reach and pharmaceutical distribution scale, and provide care management and care coordination for payers as the industry moves towards value-based reimbursement models," concluded Hammergren.

Shares of McKesson were trading lower by 0.29 percent at $154.22 mid-Thursday afternoon.

Posted-In: Biologics McKesson Specialty Pharmaceutical Companies Vantage OncologyM&A News

 

Related Articles (MCK)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

The Auto Loan Market Is Beginning To Look Like 2008's Housing Bubble

Here's Why TeamHealth Holdings Surged 18%