Latest In Pharmaceutical & Health Care

The quarter ended June 30, 2009 provided positive earnings results for major pharmaceutical distributors Owens & Minor, McKesson Corp. and AmerisourceBergen.
Second quarter sales for Owens & Minor, Richmond, VA, were $2.01 billion, an increase of 13.7% over the same period a year ago. Profit was flat in the year over year comparison at $23.6 million.

Year-to-date, Owens & Minor sales were $3.96 billion, up 13.3% from the first half of 2008. Profit decreased 21.4% to $37.6 million, due in part to charges associated with exiting the direct-to-consumer business during the first quarter.

San Francisco, CA-based McKesson’s fiscal year 2010 first quarter sales were flat with first quarter 2008 sales at $26.7 billion. Profit improved 23% to $288 million.
Sales for …

Columbus McKinnon Corp., Amherst, NY, designer, manufacturer and marketer of material handling products, reported sales of $165.1 million for the third quarter of fiscal 2009 ended Dec. 28, 2008, up 12.9% over the prior-year same period. Profit was down 61.8% to $3.8 million.

Reported quarterly results include the acquisition of Pfaff-silberblau that closed on Oct. 1, 2008. One-time accounting adjustments related to the acquisition, higher material costs, lower sales volume of the higher margin pre-Pfaff businesses, and restructuring charges affected fiscal 2009 third quarter income from operations.

Sales for the first nine months of fiscal 2009 were $470.9 million, up 8.9% compared with the first nine months of fiscal 2008 and up 2.7% excluding the Pfaff …

Owens & Minor, Richmond, VA, reported sales of $1.81 billion for the third quarter ended Sept. 30, 2008, up 7.3% from the third quarter of 2007. Profit increased 19.4% to $25.3 million.
 
For the nine months ended Sept. 30, sales were $5.36 billion, an increase of 6.1% in a year-over-year comparison. Profit improves 45.5% to $73.1 million.
 
Owens &Minor, Inc., is a distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company. …

Cardinal Health, Dublin, OH, drug and medical products distributor, reported an 11% increase in revenue to $24 billion for the quarter ended Sept. 30, 2008, driven by strong sales in the Healthcare Supply Chain Services segment and continued growth within Clinical and Medical Products.
 
The Healthcare Supply Chain Services segment achieved double-digit revenue growth, which helped partially offset the expected year-over-year profit decline from previously disclosed contract re-pricings and anti-diversion efforts for controlled substances.
 
The company performed as expected with double-digit revenue and profit performance from Clinical and Medical Products, and I am encouraged by continued signs of early progress in the pharmaceutical supply chain business,”said …

Drug distributor McKesson Corp., San Francisco, CA, reported sales for the second quarter ended Sept. 30, 2008, were $26.6 billion, a 9% increase over the prior year. Profit improved 32% to $327 million.
 
Year-to-date, sales increased 9% in a year-over-year comparison to $53.3 billion. The company reported profit for the period of $562 million, an increase of 17%.
 
In the Distribution Solutions segment, sales grew 9%. U.S. pharmaceutical direct distribution and services revenues grew 16% for the quarter, while warehouse sales were down 7%. Canadian revenues increased 15% due to new and expanded distribution agreements, market growth rates, and one additional day of sales. Medical-Surgical distribution revenues were up 9% for the quarter.
 
In Technology …

Dublin, OH-based drug distributor Cardinal Health, reported revenue for fiscal year 2008 improved 5% to $91 billion over the prior year. Profit was $1.3 billion, a 32% decrease from fiscal year 2007. Earnings for the year were negatively impacted by a $600 million expense to resolve securities litigation.
 
For the fourth quarter, sales were $22.9 billion, an increase of 3% in a year-over-year comparison. Profit was $326.6 million, a decrease of 64% from fourth quarter 2007.
 
The medical supply chain segment improved profit in the second half of the year, driven by double-digit growth in its core U.S. medical distribution business. Combined revenue for the Clinical Technologies and Services, and Medical Products and Technologies segments grew by 24% to $5.6 billion …

Owens &Minor, Richmond, VA, reported revenue for the second quarter ended June 30, 2008, was $1.79 billion, up 6.9% from the prior-year period. Profit was $23.6 million, an increase of 29%.
 
For the six months ended June 30, 2008, revenue was $3.55 billion, up 5.4%. Profit for the first half was $47.8 million, up …

Two drug distributors announced increased revenues for their quarters ending June 30, 2008.
 
San Francisco, CA-based McKesson Corp. reported first-quarter revenues of $26.7 billion, an increase of 9% over the same period a year ago. Profit remained stable at $235 million.
 
In the Distribution Solutions segment, U.S. pharmaceutical revenues increased 16% while warehouse sales declined 8% for the quarter. Canadian revenues were up 27%, primarily due to new and expanded distribution contracts and a favorable currency impact of 10%. Medical-Surgical distribution revenues were up 6% for the quarter.
 
Technology Solutions had a revenue increase of 2% for the quarter.
 
AmerisourceBergen, Valley Forge, PA, announced revenue for third quarter 2008 …

Owens & Minor, Richmond, VA, reported sales for the first quarter ended March 31, 2008, were $1.75 billion, up 3.9% from the prior-year period.

Profit was up 124% to $24.2 …