McKesson reports Q4, fiscal-year results
SAN FRANCISCO — Sales at McKesson were $28.9 billion during fourth quarter 2011 and $112.1 billion for fiscal year 2011, according to financial results announced Tuesday.
Sales for the quarter represented an 8% increase over $26.6 billion in fourth quarter 2010, while sales for the year increased by 3% over 2010’s $108.7 billion.
Profits for the quarter were $422 million, a 21% increase over fourth quarter 2010, while profits for the year were $1.2 billion, a 5% decrease from fiscal year 2010’s $1.26 billion.
“Our fourth-quarter results wrapped up another solid full-year financial performance, driven by strong execution in Distribution Solutions,” McKesson chairman and CEO John Hammergren said. “I’m pleased that we exceeded our initial expectation for both earnings and cash flow.”
Revenues from Distribution Solutions increased by 8% for the quarter and 3% for the year, while U.S. pharmaceutical distribution revenues increased by 9% during the quarter due to market growth and the October 2010 purchase of U.S. Oncology.
Quality Care Pharmacies joins NCPA
ALEXANDRIA, Va. — The National Community Pharmacists Association’s membership has expanded to include a buying and advertising cooperative that offers rebates and signage to independently owned pharmacies.
Quality Care Pharmacies — a Springville, N.Y.-based company that boasts more than 450 member pharmacies in New York, New Jersey, Pennsylvania, Connecticut and Ohio — has joined NCPA, the association said.
“Community pharmacies, like the members of Quality Care Pharmacies, have been in business so long over the years because they are constantly adapting to satisfy the needs of their patients,” said Robert Greenwood, NCPA president and Iowa pharmacy owner. “Quality Care Pharmacies and NCPA agree that superior customer service and cost-saving medication counseling are the cornerstones of independent community pharmacy. We are proud to have them join us, and we look forward to working together to raise awareness about that standard.”
Added Quality Care Pharmacies executive director Robin Willmott, “NCPA’s relentless advocacy for community pharmacy is greatly appreciated by Quality Care Pharmacies. We look forward to our continued involvement with NCPA, on behalf of our members, in the years to come.”
Diabetes Advocacy Alliance to raise awareness of potential diabetes epidemic
WASHINGTON — With the number of Americans with diabetes set to rise to 50 million by 2025, educating people is one of the most important steps for heading off the epidemic.
The Diabetes Advocacy Alliance will sponsor a briefing on Capitol Hill Tuesday from noon to 1:30 p.m. at the Rayburn House Office Building in Room 340-B to address the distinction between Type 1 and Type 2 diabetes. Type 1 diabetes, sometimes called juvenile diabetes, is an autoimmune disorder that accounts for about 5% of those diagnosed, while Type 2 is connected to such lifestyle choices as diet and physical activity.
Other topics to be addressed will include the escalating prevalence of the disease and costs associated with it, as well as ways to help people with prediabetes delay or prevent a full-blown Type 2 diabetes diagnosis.
According to the Institute for Alternative Futures, the number of people with diabetes will increase by 64%, costing the healthcare system more than $500 billion. The Diabetes Advocacy Alliance is a group of 13 organizations that seek to change how policymakers and others perceive and approach the problem of diabetes in the United States. It includes the American Diabetes Association, the American Association of Diabetes Educators, the National Association of Chain Drug Stores, Novo Nordisk and others.
“Diabetes is a huge and growing problem,” DAA co-chairwoman and AADE chief advocacy officer Martha Rinker said. “In many ways, diabetes is bigger than all of us. That’s one of the primary reasons why this broad coalition of organizations has come together, and one of the reasons we believe it is critical to inform policymakers about the human and economic impact.”