By Katherine Hamilton
McKesson plans to separate its medical-surgical business into a new company.
The pharmaceutical distributor on Thursday said the new company would be a differentiated medical surgical supply and solutions business.
McKesson expects the spinoff will improve operational focus and improve value for shareholders of both McKesson and the new company. The company focused on expanding its oncology and biopharmaceutical segments during the first quarter, it said.
The medical-surgical solutions segment brought in $2.85 billion of revenue in the fiscal fourth quarter, up 1% from the year before.
"Disciplined capital deployment and portfolio management are hallmarks of our strategy," Chief Executive Officer Brian Tyler said. "We believe that the separation will deliver sustainable long-term growth for both companies."
McKesson posted a 19% increase in revenue to $90.8 billion in the fiscal fourth quarter. It had a profit of $1.26 billion, or $10.01 a share, in the quarter ended March 31, compared with $791 million, or $6.02 a share, the year before.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 08, 2025 17:29 ET (21:29 GMT)
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