Why McKesson Stock Soared More Than 5% Higher Today
The company extended its existing partnership with a major pharmacy chain.
Overview
McKesson (NYSE:MCK) investors received a strong dose of good news on the second-to-last trading day of the week. The storied pharmaceutical and healthcare products distributor announced the extension of its partnership with a major pharmacy chain operator. This development pushed McKesson stock to an over 5% gain on Thursday.
McKesson's counterparty is none other than the ubiquitous CVS Health (NYSE:CVS). The two companies have signed an agreement in principle for the former to distribute medicines to mail-order, specialty, and retail pharmacies, as well as distribution centers, through June 2032.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.