May 6, 2008 |
McKesson Corp.'s fiscal fourth-quarter profit rose 19% because of strong sales in its drug distribution and technology units. The San Francisco-based company said Monday that it earned $307 million, or $1.05 a share, compared with $257 million, or 85 cents, a year earlier. Quarterly revenue rose 9% to $26.23 billion. Excluding special costs related to litigation, the nation's largest prescription drug distributor earned $1.04 a share in the quarter ended March 31. On that basis, analysts surveyed by Thomson Financial expected earnings of $1 a share.
September 14, 2007 |
Drug distributor McKesson Corp. said that two computers containing confidential patient data were stolen from the company July 18. The computers contained data on thousands of participants in a program that McKesson administers to help supply drugs to low-income patients, spokesman James Larkin said. He declined to say which health-care firm had hired McKesson to run the program or whether the data were encrypted.
August 30, 2007 |
A federal judge ruled that consumers and other parties who sued McKesson Corp., the biggest U.S. drug distributor, may pursue their claims of inflated prices as a group, a law firm for the class said. Consumers and third-party payers had claimed in a 2006 complaint, filed in U.S. District Court in Boston, that San Francisco-based McKesson had entered into a secret agreement to inflate the reported "average wholesale price" of thousands of drugs.
June 14, 2007 |
John Hammergren, chairman of San Francisco-based McKesson Corp., received compensation valued at $22.6 million for guiding the nation's largest prescription drug distributor to a record profit in its last fiscal year. Hammergren's package, disclosed in a regulatory filing, included $11 million in bonuses and a $1.37-million salary. He also was awarded stock options and restricted stock that had an estimated value of $9.65 million when they were granted.
May 8, 2007 |
McKesson Corp.'s profit climbed 17% in its fiscal fourth quarter to top analysts' expectations, capping a year of robust growth at the nation's largest distributor of prescription drugs. The San Francisco-based company said it earned $257 million, or 85 cents a share, for the three months ended in March. That compared with net income of $220 million, or 70 cents, a year earlier. Revenue totaled $24.2 billion, a 2% increase.
April 14, 2007
* McKesson Corp. investors won final approval of a $72.5-million settlement of claims against accounting firm Arthur Andersen, which shareholders said helped perpetrate a fraud that led to an $8.6-billion drop in McKesson's market value. * A federal judge signed off on a restitution agreement requiring Sanjay Kumar, former chief executive of Computer Associates International Inc.