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McKesson Corporation : McKesson wins new two-year Veterans Affairs contract

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04/12/2012 | 01:02am CEST

Pharmaceutical wholesaler McKesson Corp on Wednesday said it was selected by the U.S. Department of Veterans Affairs to continue as the VA's prime pharmaceutical supplier for at least two more years.

News of the contract, which includes options for up to three two-year extensions, sent shares of McKesson up more than 4 percent in after hours trading.

The new agreement, valued by the VA at over $31.6 billion, calls for McKesson to supply all of the VA's more than 700 medical centers and outpatient clinics, as well as its seven consolidated mail outpatient pharmacies.

"Over the past eight years, McKesson has partnered with the VA to serve the healthcare needs of America's veterans," Paul Julian, the company's executive vice president and group president, said in a statement.

The VA, which estimated savings of about $3.26 billion through the life of the contract, said the new agreement goes into effect on May 10.

Shares of McKesson, which closed at $87.90 on the New York Stock Exchange, were trading at $91.89 after hours.

(Reporting By Deena Beasley, editing by M.D. Golan)

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Financials ($)
Sales 2018 203 560 M
EBIT 2018 3 720 M
Net income 2018 2 019 M
Debt 2018 4 554 M
Yield 2018 0,77%
P/E ratio 2018 14,94
P/E ratio 2019 13,91
EV / Sales 2018 0,18x
EV / Sales 2019 0,17x
Capitalization 32 446 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 158 $
Spread / Average Target 3,3%
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NameTitle
John H. Hammergren Chairman, President & Chief Executive Officer
James A. Beer Chief Financial Officer & Executive Vice President
Kathleen D. McElligott Chief Technology & Information Officer, EVP
Wayne A. Budd Independent Director
M. Christine Jacobs Independent Director
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