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MCK

McKesson

$133.98

3.815 (2.93%)

, CHNG

Change Healthcare

$15.01

(0.00%)

16:13
06/27/19
06/27
16:13
06/27/19
16:13

McKesson sees exiting Change Healthcare investment in tax-efficient manner

McKesson Corporation (MCK) issued a statement on today's Change Healthcare (CHNG) initial public offering: Change Healthcare, Inc., a scaled healthcare information technology company, began trading on the Nasdaq Global Select Market under the trading symbol "CHNG." McKesson holds the majority ownership stake in Change Healthcare's operating subsidiary. "Congratulations to Change Healthcare on this significant milestone in the company's history. For McKesson, this is an important next step in our efforts to unlock value for McKesson shareholders from our investment in the Change Healthcare business," said Brian Tyler, chief executive officer of McKesson. McKesson expects to exit its investment in Change Healthcare in a tax-efficient manner.

MCK

McKesson

$133.98

3.815 (2.93%)

CHNG

Change Healthcare

$15.01

(0.00%)

  • 09

    Sep

  • 27

    Jun

MCK McKesson
$133.98

3.815 (2.93%)

04/03/19
MSCO
04/03/19
NO CHANGE
MSCO
Morgan Stanley says Walgreens' reimbursement pressure points to distributor risk
Morgan Stanley analyst Ricky Goldwasser said the guidance cut made by Walgreens Boots Alliance (WBA) is due to the same "perfect storm of industry headwinds" addressed by CVS Health (CVS) earlier in the year, including increased reimbursement pressure, lower generic deflation, lower brand inflation and declining comparable sales in the front-end of the store. Though Walgreens management suggested reimbursement headwinds should normalize in fiscal 2020, Goldwasser said he could see more downside from continued reimbursement headwinds and structural changes if new rebate rule comes into play. He also views pharmacy reimbursement pressure as a leading indicator suggesting risk to distributors' sell side margins and earnings, including for AmerisourceBergen (ABC), which Goldwasser notes is part of the WBAD purchasing consortium. Other drug distributors include McKesson (MCK) and Cardinal Health (CAH).
04/02/19
WOLF
04/02/19
INITIATION
Target $127
WOLF
Outperform
McKesson initiated with an Outperform at Wolfe Research
Wolfe Research initiated McKesson with an Outperform and $127 price target citing compelling cash flow yields.
03/04/19
BARD
03/04/19
NO CHANGE
BARD
Baird investigation finds Ohio, like many buyers, paying too much for drugs
In a research note titled "Major Confusion: Does This Pass Your Sniff Test?," Baird analyst Eric Coldwell details the interplay between Cardinal Health's (CAH) generic marketing company Major Pharmaceuticals and CVS Health (CVS) in Ohio. In Major's catalog is Omeprazole, a generic version of Prilosec, which is available without a subscription. CVS Caremark, which had majority share of pharmacy benefit management services in Ohio, didn't use Maximum Allowable Cost for the product, which led to the state of Ohio paying $6.74 per tablet, or 19 times the amount somebody without a subscription can buy it, Coldwell tells investors in a research note, citing his own investigation. Meanwhile, over the course of five quarters in Ohio, Major's volume market share went from less than 2% to nearly 60% while dollar market share went from 12% to 95%, adds the analyst. He asks, "How does this happen?" The state of Ohio, "like so many other buyers, feels like it is paying too much for drugs," concludes Coldwell.
01/17/19
UBSW
01/17/19
INITIATION
Target $134
UBSW
Neutral
McKesson initiated with a Neutral at UBS
UBS analyst Kevin Caliendo started McKesson with a Neutral rating and $134 price target.
CHNG Change Healthcare
$15.01

(0.00%)

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FUN

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HYG

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