Manual of Mental Disorders

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Arthritis Drug

Arthritis Drug

U.S. approves Novartis drug Ilaris to treat childhood arthritis  Full Article 

Dementia & Longevity

Dementia & Longevity

Could family longevity protect against dementia?  Full Article 

Obamacare Expansion

Obamacare Expansion

Kentucky governor announces Medicaid expansion under Obamacare  Full Article 

Gum Stopped

Gum Stopped

Wrigley halts production of caffeine gum following FDA concern  Full Article 

Premature Babies

Premature Babies

Could vaginal delivery be safer for preemies?  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage 

McKesson wins new two-year Veterans Affairs contract

Related Topics

Stocks

   

Thu Apr 12, 2012 4:30am IST

(Reuters) - 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)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.