McKesson rises after $2.25 bln Precision Medicine deal
BUZZ-McKesson rises after $2.25 bln Precision Medicine deal ** Shares of U.S. drug distributor McKesson rise 1.4% to $885.91
** Co to buy privately held Precision Medicine Group in a deal valued at about $2.25 bln
** Co says acquisition expands clinical research, clinical trial and drug commercialization capabilities
** Precision provides clinical research, laboratory testing and commercialization services for biotech and pharma firms developing new medicines
** Leerink Partners analyst Michael Cherny said the acquisition fits McKesson's portfolio and is not a "bet-the-farm" transaction, given its value is equivalent to just over 2% of McKesson's market capitalization
** McKesson's Oncology & Multispecialty revenue rose 33% to $14.2 bln in its latest reported quarter
** Including session's move, stock down
(Reporting by Sahil Pandey in Bengaluru)
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