McKesson’s drug-distribution business aids Q2 growth
SAN FRANCISCO Healthcare and distribution company McKesson reported Wednesday that the Distribution Solutions segment of its business drove second-quarter growth.
Revenues for McKesson rose nearly 1.5% to $27.5 billion for the quarter ended Sept. 30, compared with the year-ago period. Similarly, the company’s second-quarter earnings rose from $1.11 per share in second quarter 2009 to $1.25 per share.
For its Distribution Solutions business, McKesson said revenues were up 2% in the second quarter, with gross profit rising to $1.09 billion from $960 million in second quarter 2009. The company attributed the increased gross profit margin to an improved mix of higher-margin products and services, including sales of OneStop Generics.
“I’m pleased with the outstanding performance in our Distribution Solutions and the ability of our team to consistently provide higher-value products and services to our customers,” said John Hammergren, McKesson chairman and CEO. “In particular, the market-leading generics programs that we have across all of our distribution businesses continue to play a significant role in our margin expansion.”
McKesson also saw additional increases across its U.S. pharmaceutical distribution, where revenues were up 1% for the quarter, as well as its medical-surgical distribution revenues, which rose 5%. The company also noted, however, that revenues were down 3% for its Technology Solutions segment.
Hammergren said that the company continues to expect to earn between $4.72 and $4.92 per diluted share for its fiscal guidance.
Strativa enters license, supply agreement with Sobi
WOODCLIFF LAKE, N.J. Strativa Pharmaceuticals is working with a Swedish drug maker to develop and commercialize a prescription vitamin supplement, Strativa said Tuesday.
The company said it had signed a license and supply agreement with Swedish Orphan Biovitrum, also known as Sobi, concerning European rights to Strativa’s Nascobal (cyanocobalamin), a vitamin B12 nasal spray.
The supplement is approved for treating vitamin B12 deficiency, designed as a once-weekly alternative to injections. Vitamin B12 deficiency usually results from pernicious anemia, a strict vegetarian diet and poor absorption of the nutrient resulting from such medical conditions as HIV infection, Crohn’s disease, multiple sclerosis and gastrectomy.
PerformRx receives PBM accreditation from URAC
PHILADELPHIA A full-service pharmacy benefit manager received its second accreditation from an independent, nonprofit healthcare-accrediting organization.
PerformRx said that its pharmacy benefit management accreditation from URAC indicated that PerformRx’s PBM business demonstrated a commitment to quality services. “This accreditation serves as a clear sign that PerformRx is committed to providing the best possible service to our existing and future customers,” said Mesfin Tegenu, PerformRx president. “The URAC evaluation is an incredibly rigorous process that evaluates the organization at all levels, and to wear the URAC seal is a mark of distinction for our company.”
In conjunction with its PBM accreditation, PerformRx also applied for URAC’s drug therapy management accreditation. PerformRx’s DTM program improves therapeutic outcomes for members by evaluating drug dose, method of delivery, cost effectiveness and other factors, the company said, adding that obtaining the DTM accreditation will allow PerformRx to demonstrate the high quality and effectiveness of its DTM program.