By Connor Hart

McKesson inked a deal to buy a controlling interest in Prism Vision Holdings, as it also logged higher profit and revenue in its fiscal third quarter.

The drug distributor said Wednesday that it intends to develop a retinal care platform, delivering differentiated solutions and value across providers, biopharma partners and patients.

The Irving, Texas, company will acquire an 80% stake in Prism upon the deal's closing, which is subject to customary conditions. The company didn't disclose a purchase price.

Prism provides general ophthalmology and retina-management services.

"McKesson has a long track record of leading practice management and clinical research outcomes with our differentiated Oncology platform, and we are excited to leverage this expertise to serve the high-growth area of retina and ophthalmology," Chief Executive Brian Tyler said.

Also on Wednesday, McKesson reported a profit of $879 million, or $6.95 a share, in its quarter ended Dec. 31, compared with $589 million, or $4.42 a share, a year earlier.

Adjusted per-share earnings came in at $8.03, just above the $8 that analysts surveyed by FactSet were expecting.

Revenue increased 18% to $95.29 billion, ahead of the $91.23 billion that analysts modeled.

The company attributed the increase largely to its U.S. Pharmaceutical unit, where sales grew 19% to $87.1 billion thanks to higher prescription volumes and growth in its oncology platform.

For its fiscal 2025, McKesson narrowed its adjusted per-share earnings outlook to between $32.55 and $32.95, compared with a prior range of $32.40 to $33. Analysts are looking for adjusted earnings of $32.68 a share, according to FactSet.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 05, 2025 17:13 ET (22:13 GMT)

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