BUZZ-Drug distributors end 2024 on high note

Reuters2024-12-31

** Drug distributors ended 2024 on a high note as they expanded their presence in the specialty medicines market that treats complex conditions such as rheumatoid arthritis and cancer due to their high-profit margins

** Cardinal CAH.N, Cencora COR.N and McKesson MCK.N grew 17.4%, 9.2%, 23% respectively this year

** The companies had a spree of acquisitions in 2024 as they chose to double down on growing business

** In August, MCK bought a controlling stake in community cancer center Florida Cancer Specialists & Research Institute's business and administrative services unit for $2.49 bln

** CAH played "catch up", spending more than $6 bln in four deals this year, while COR struck a $4.6 bln deal to add nearly 300 eye specialists to its portfolio of physician management services in November

** The S&P 500 Health Care Distributors Sub Index .SPLRCHCSS grew 13.9% this year

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment