San Francisco-based pharmaceutical wholesaler McKesson appears to be finally righting itself after a difficult five years following its disastrous purchase of IT vendor HBO. The company reported earnings of $167 million for the second quarter, about twice what it earned in the same period last year. Analysts say much of McKesson's recent success has come as a result of its core business: the distribution of prescription drugs to hospitals and pharmacies. Sales for the company's pharmaceutical solutions division were up 69 percent for the quarter, led by strong growth in generics. Meanwhile, the IT division (McKesson Provider Technologies) appears to have righted the ship, too, after several management changes in recent years.
- see the report [1] from the AP
- see this article [2] from The Washington Post
Links:
[1] http://biz.yahoo.com/ap/051108/earns_mckesson.html?.v=6
[2] http://www.washingtonpost.com/wp-dyn/content/article/2005/11/08/AR2005110801240.html