The 2020 Mid-Year Economic Update_long

McKesson Sales Up 37% in 1Q

Profit for the quarter down 5 percent year-over-year.

Pharmaceutical and medical supplies distributor McKesson Corp. (NYSE: MCK), San Francisco, CA, reported sales for the first quarter ended June 30 of $44.1 billion, an increase of 37 percent year-over-year. Profit decreased 5 percent to $403 million.

“McKesson fiscal first-quarter results represent a strong start to the year with solid execution across our business and particularly strong growth in our distribution solutions segment,” said CEO John Hammergren.

Distribution segment sales for the first quarter were $43.3 billion, up 38 percent, mainly driven by contributions from the acquisition of Celesio and market growth.

Technology solutions sales were down 8 percent, driven by anticipated revenue softness from the Horizon clinical software platform and the planned elimination of a product line, partially offset by growth in other technology businesses.

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