McKesson Raises FY22 Earnings Guidance; Announces $4bln Rise In Share Buyback Drive

(RTTNews) - McKesson Corporation (MCK), a health care and pharmaceutical products distributor, said on Wednesday that it has raised earnings guidance for the next fiscal.

For the fiscal 2022, the Texas-based company now expects its adjusted earnings per share to be in the range of $22.35 - $22.95, against its previous projection range of $21.95 - $22.55. The revised guidance aims to reflect an additional $0.40 related to the federal government's Covid-19 vaccine distribution program.

In addition, McKesson has also announced new $4 billion increase to its share repurchase program authorized by the Board.

Commenting on its future growth strategies, the company said, it will leverage the breadth and depth of its core growth to further develop and build differentiated oncology and biopharma services ecosystems.