Investing.com -- McKesson Corporation (NYSE: MCK) shares rose 4.4% Thursday following the announcement of an extended pharmaceutical distribution agreement with CVS Health through June 2032.

The healthcare services company signed an agreement in principle to continue distributing pharmaceuticals to CVS Health's mail order and specialty pharmacies, retail pharmacies, and distribution centers. The partnership between the two companies has existed for more than 25 years.

"We are pleased to extend our long-standing, strategic relationship with CVS Health and continue supporting their important role in serving patients and communities across the country," commented Brian Tyler, chair and chief executive officer of McKesson. "For more than 25 years, our teams have worked together to deliver reliable, high-quality services to patients, and we remain committed to building on that strong foundation through our differentiated capabilities and shared focus on improving health outcomes."

McKesson reaffirmed its fiscal year 2027 adjusted earnings per share guidance of $44.20 to $45.00. The company also maintained its long-term adjusted EPS growth rate target of 13% to 16%.

The company stated it will provide further updates during its second quarter fiscal 2027 earnings call scheduled for November 4, 2026.

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