McKesson to Acquire Precision Medicine Group for $2.25 Billion
McKesson Corporation (NYSE:MCK) is set to acquire Precision Medicine Group in a $2.25 billion deal aimed at expanding its oncology and biopharma services businesses. The acquisition will enhance McKesson's capabilities in clinical trials, payer strategy, market access, and contract research organization (CRO) operations—particularly in biomarker-focused areas that align with the company’s existing assets like Sarah Cannon and U.S. Oncology Network. The deal is expected to fall under McKesson's Oncology and Multi-Specialty segment after regulatory approvals are secured. Precision Medicine Group brings a focused CRO business, emphasizing oncology, rare diseases, immunology, and cell and gene therapy—sectors where McKesson already has significant investments such as InspiroGene. McKesson also reported strong first-quarter results with 5% revenue growth in its pharmaceutical distribution segment and over 30% increases in both revenue and profit for oncology services. The company plans to return $5 billion to shareholders this year through buybacks and a dividend hike while continuing investments in automation, AI, and strategic growth initiatives.
Tickers: $MCK
Topics: Biopharma Services Healthcare Oncology Pharmaceuticals