January 27, 1999 |
McKesson HBOC Inc. shares fell 9% amid concern about sales of the No. 1 drug wholesaler's newly acquired medical software unit, HBO & Co. after the company released earnings late Monday. McKesson fell $7.63 to close at $74.39 on the NYSE. Earlier, shares fell as low as $72.50. While San Francisco-based McKesson's fiscal third-quarter earnings matched analysts' estimates, investors were concerned that HBO's revenue fell short of expectations.
April 29, 1999 |
Pharmaceutical supply giant McKesson HBOC Inc. stunned investors Wednesday by revising downward its latest quarterly earnings and projecting lower profit through early 2000. The company's stock plummeted nearly 50%, losing $31.25 to close at $34.50 on the New York Stock Exchange. San Francisco-based McKesson, which acquired health-care information management firm HBO & Co.
July 15, 1999 |
McKesson HBOC Inc., the largest U.S. drug wholesaler, said Wednesday that it will lower its fiscal 1999 earnings by $152.2 million, or 53 cents a share, as it fixes accounting improprieties at its software unit that caused its stock to lose more than half its value since January. San Francisco-based McKesson said the problems at its HBOC software unit caused it to slash $327.4 million off revenue for three fiscal years. It cut earnings for fiscal 1998 by $25.
January 29, 1999 |
Bergen Brunswig Corp., said Thursday that it has won a seven-year contract valued at $6.3 billion to be the sole supplier of drugs, health and beauty aids, and over-the-counter medical products to Longs Drug Stores Corp., the sixth largest drug store operator in the United States. The contract is currently split between Bergen and No. 1 U.S. wholesaler McKesson HBOC Inc. Bergen said about 50% of the $900 million annual revenue will be new business. Orange-based Bergen, the third largest U.S.
July 17, 1999 |
Executives at McKesson HBOC Inc. borrowed almost $100 million to buy company stock, only to see the shares lose about half their value after the disclosure of accounting improprieties at the largest U.S. drug wholesaler. The borrowers include former Chief Executive Mark Pulido, who owed McKesson $17.8 million as of June 30, according to a proxy statement filed with the Securities and Exchange Commission.
February 27, 2001 |
McKesson HBOC Inc. on Monday named co-chief executive John Hammergren as sole president and CEO and said it was restructuring its money-losing Internet unit, led by co-CEO David Mahoney, who will leave the company. The largest U.S. drug wholesaler said it will take a fiscal fourth-quarter charge of an undetermined amount for restructuring. The changes are effective April 1.