Drug distributors end 2024 on high note

McKesson

31/12/2024 19:12

** Drug distributors ended 2024 on a high note as they
expanded their presence in the specialty medicines market that
treats complex conditions such as rheumatoid arthritis and
cancer due to their high-profit margins
    ** Cardinal  CAH.N , Cencora  COR.N  and McKesson  MCK.N 
grew 17.4%, 9.2%, 23% respectively this year
    ** The companies had a spree of acquisitions in 2024 as they
chose to double down on growing business
    ** In August, MCK bought a controlling stake in community
cancer center Florida Cancer Specialists & Research Institute's
business and administrative services unit for $2.49 bln
    ** CAH played "catch up", spending more than $6 bln in four
deals this year, while COR struck a $4.6 bln deal to add nearly
300 eye specialists to its portfolio of physician management
services in November
     ** The S&P 500 Health Care Distributors Sub Index
 .SPLRCHCSS  grew 13.9% this year

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))