McKesson Q3 revenues up 37%

SAN FRANCISCO — McKesson on Thursday reported that revenues for the third quarter ended Dec. 31, 2014 totaled $47 billion, up 37% compared to $34.3 billion a year ago.

 

“I am pleased by the strong performance of our business for the first nine months of our fiscal year. We have raised our outlook for the year and now expect adjusted earnings per diluted share from continuing operations of $10.80 to $10.95 for the fiscal year ending March 31, 2015. McKesson’s third-quarter results reflect solid execution across our business,” said John Hammergren, chairman and CEO.

 

Distribution Solutions revenues were $46.3 billion, up 38% on a reported basis and 39% on a constant currency basis for the quarter, mainly driven by the contribution from McKesson's acquisition of Celesio and market growth.

 

North America pharmaceutical distribution and services revenues, which include results from U.S. Pharmaceutical, McKesson Canada and McKesson Specialty Health, were up 17% on a reported and constant currency basis for the quarter, reflecting market growth including growth from existing customers and continued demand for recently launched drugs for the treatment of Hepatitis C.

 

International pharmaceutical distribution and services revenues were $7.3 billion, an increase of 7% on the underlying results of Celesio on a constant currency basis.

 

Medical-Surgical distribution and services revenues were up 7% for the quarter, driven by market growth.