McKesson (MCK) NDR Confirms a CRO Deal is NOT on the Table - UBS
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UBS analyst Kevin Caliendo reiterated a Buy rating and $205.00 price target on McKesson (NYSE: MCK) after hosting CFO, Britt Vitalone, for a series of investor meetings on June 4th. The key takeaway from the meetings was that management is adamant that MCK is not looking to add a "third pillar" of growth beyond its current focus on enhancing its oncology and biopharma franchises.
The analyst stated "In speaking about CROs, he stated that while MCK has participated in clinical trials strategy and there are parts of a CRO that could enhance its oncology business, that MCK was not looking to become a full service contract research organization. Instead, MCK will continue to look build out Ontada internally and add technology assets that might enhance that growth."
Shares of McKesson closed at $194.94 yesterday.
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