McKesson Fights Back With Strong Earnings, Revenue Gains
The drug distribution business has gotten fierce recently, with new competitive threats adding to pressure from lawmakers and consumer advocates about the high cost of prescription drugs. McKesson (NYSE: MCK) has had to take steps to protect its business not just in the U.S. but also in other areas like the U.K., where the National Health Service has sought to reduce the amount of money it pays as reimbursements to retail pharmacies.
Coming into Thursday's fiscal second-quarter financial report, McKesson investors had braced for further earnings declines as the market environment continued to look unfavorable. Yet the drug distributor was able to give those investors a positive surprise, and it's confident in its efforts to fight back against political and competitive pressures in order to generate long-term success. Let's look more closely at what McKesson said and whether it can keep doing well.
Image source: Getty Images.
Source: Fool.com
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