In Brief: McKesson
This article was originally published in The Rose Sheet
Executive Summary
McKesson: Drug wholesaler "working very hard...to exit" its service merchandising segment, Millbrook Distribution Services, McKesson President and Chief Operating Officer Mark Pulido told analysts at Bear Stearns' Ninth Annual Health Care Conference held Sept. 12 in New York City. Pulido would not discuss a time frame or asking price, but emphasized that the company "wants to get out of" the business. FY 1997 (ends March 31, 1997) revenues for the Millbrook unit, which distributes about 36,000 health and beauty care, general merchandise and specialty food items to 15,000 food store doors in 42 states, have slid 17% to-date. The division experienced a 12.9% sales decline in FY 1996 to $564.7 mil. Millbrook is the largest of three "non-core" businesses at McKesson, accounting for about 4% of the company's FY 1996 sales of $13.7 bil...