The 2020 Mid-Year Economic Update_long

McKesson Sales Up 9% in 1Q

Company's subsidiary, Celesio, makes acquisition.

McKesson Corp. (NYSE: MCK), San Francisco, CA, reported sales for the first quarter ended June 30 of $47.5 billion, a 9 percent increase from the same period a year ago. Profit for the quarter increased 43 percent to $576 million.

Distribution Solutions sales were up10 percent year-over-year to $46.8 billion. Medical-Surgical distribution sales were up 4 percent for the quarter, while technology solutions decreased 4 percent.

Also, McKesson's subsidiary Celesio has agreed to acquire Sainsbury’s UK-based pharmacy operations. "The acquisition will add 281 new pharmacies to the Lloyd’s Pharmacy brand in the United Kingdom and complements the more than 12,000 owned or banner pharmacies across McKesson," said CEO John H. Hammergren.

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