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McKesson posts annual revenues of $122.5 billion, reports strong cash flow for new fiscal year

BY Michael Johnsen

SAN FRANCISCO — McKesson on Tuesday reported fiscal year revenues of $122.5 billion, relatively flat as compared with the prior fiscal year. Full-year adjusted earnings per diluted share was $6.33, compared to $6.38 in the prior year.

“We took important strategic and operational actions during the quarter, and while these actions impacted our fourth-quarter financial results, I believe they leave the company well-positioned for continued success going forward,” stated John Hammergren, chairman and CEO of McKesson. “Turning to our operating results, I am pleased with the strong performance of our distribution solutions segment in the fourth quarter, which capped off another outstanding year in the segment. In addition to the strong operating performance in our distribution solutions segment, we had another great year of cash flow performance and deployed a record level of capital for acquisitions and share repurchases, creating further value for our shareholders.”

During the fourth quarter, McKesson completed the acquisition of PSS World Medical. Also during the fourth quarter, McKesson repurchased $800 million of its common stock.  

For the year, McKesson generated cash from operations of $2.5 billion, and ended the year with cash and cash equivalents of $2.5 billion and a gross debt-to-capital ratio of 40.8%.  During the year, McKesson spent $1.9 billion on acquisitions, repurchased $1.2 billion of its common stock, paid $194 million in dividends, and had internal capital spending of $406 million. 

“The strength of our balance sheet and cash flow performance continue to provide opportunities to create value for our shareholders through our portfolio approach to capital deployment,” Hammergren added. “In the fourth quarter we completed the acquisition of PSS and have begun the process of bringing together the best of our combined businesses to help our customers improve efficiency and deliver better care to their patients. In addition, our strong cash flow allowed us to repurchase shares of common stock valued at more than $1.2 billion in Fiscal 2013. We plan to continue our portfolio approach to capital deployment with a mix of acquisitions, share repurchases, dividends and internal investments.” 

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Takeda to acquire Colo. maker of vaccines for tropical diseases

BY Alaric DeArment

DEERFIELD, Ill. — Japanese drug maker Takeda Pharmaceutical Co. will buy Fort Collins, Colo.-based vaccine maker Inviragen for up to $250 million, the two companies said Wednesday.

Takeda will pay $35 million upfront for Inviragen, plus future milestone payments of up to $215 million based on progress made in the development of the company’s products. Inviragen develops vaccines for such diseases as dengue fever and hand, foot and mouth disease, and operates facilities in Fort Collins, Madison, Wis., and Singapore. The company’s lead candidate, the dengue vaccine DENvax, is in mid-stage clinical development. A vaccine for hand, foot and mouth disease caused by enterovirus is in early-stage development, while one for chikungunya is in preclinical development.

"Takeda has taken another major step toward its goal of establishing a world-class global vaccine business by acquiring Inviragen and its advanced vaccine candidate against dengue, a serious mosquito-borne illness that threatens nearly half of the world’s population," Takeda Vaccine Business Division EVP Rajeev Venkayya said. "Today’s announcement reinforces Takeda’s commitment to develop innovative vaccines to fight some of the world’s most important infectious diseases."

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Purell Advanced named top sanitizer by TripAdvisor

BY Michael Johnsen

AKRON, Ohio — TripAdvisor on Wednesday named Purell Advanced Hand Sanitizer "best hand sanitizer" as part of the travel site’s second annual Travelers’ Choice Awards for Travel Favorites.  

The awards honor top brands travelers across select global markets prefer to use on their trips. In the U.S., there were 21 winners in categories ranging from cameras to sunscreen and carry-on luggage. Winners also were announced in the United Kingdom, France, Germany, India, Italy, Spain and Russia.

"The TripAdvisor community has spoken and these are the most beloved travel brands from around the world," stated Barbara Messing, chief marketing officer for TripAdvisor. "We are thrilled to recognize these world-class brands with Travelers’ Choice awards that millions of travelers worldwide rely on for the best travel products for their trips."

Other CPG winners included Orbit mints, Off! insect repellent and ChapStick lip balm. For the complete list, click here

"Travelers don’t want anything to slow them down, and Purell is for those on-the-go moments," noted Kathleen Hooker, Purell Consumer marketing director. "We know our customers love using the Purell Jelly Wraps that can attach to purses and bags, as well as 2-oz. bottles. You’ll soon see Purell travel products for your car and hand-sanitizing wipe packages."

Surveys were conducted in each country using a total panel of more than 3,900 TripAdvisor travelers to select a shortlist of brands/products in each category. A total of 39,898 travelers — including 12,125 U.S. respondents — then selected their favorites from the shortlists.

  

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