McKesson raises annual profit forecast on strong growth in specialty drug business

McKesson

05/08/2026 21:39

Aug 5 (Reuters) - Drug distributor McKesson MCK.N on Wednesday raised its annual profit forecast after beating first-quarter earnings estimates, on strength in its oncology and specialty drug businesses.
The company now expects fiscal 2027 adjusted profit to be in the range of $44.20 to $45 per share, from its previous projection of $43.80 to $44.60 per share. Analysts were expecting a profit of $44.26 per share, according to data compiled by LSEG.

Here are more details: 
The Texas-based company reported revenue of $105.4 billion for the first quarter ended June 30, beating analysts' expectations of $103.74 billion, helped by increased prescription volumes for its oncology and specialty medicines. 
McKesson and peers, including Cardinal Health CAH.N and Cencora COR.N, are capitalizing on surging demand for high-cost specialty drugs used to treat rheumatoid arthritis and cancer, helping generate strong margins. 
On an adjusted basis, McKesson earned a profit of $9.93 per share, up 20% from a year ago and beating analysts' estimate of $9.54 per share. 
Sales in McKesson's U.S. pharmaceutical unit, its largest segment by revenue, rose 5% to $86.8 billion, driven in part by higher prescriptions for specialty products.
In April, McKesson said it will sell a minority stake in its medical-surgical solutions business to investment firm Apollo Funds for $1.25 billion, as the drug distributor  streamlines its operations to focus on its core pharmaceutical distribution business. 
Earlier on Wednesday, peer Cencora also raised its annual adjusted profit forecast, banking on continued strength in demand for specialty medicines.

 (Reporting by Sneha S K in Bengaluru; Editing by Diti Pujara)
 ((Sneha.SK@thomsonreuters.com;))