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McKesson (MCK) Announces Availability of FDA-Cleared Drug for MCL
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McKesson Corporation (MCK - Free Report) recently announced that its independent specialty pharmacy specializing in oncology and rare disease areas, Biologics by McKesson, was selected by Eli Lilly and Company (Lilly) as a specialty pharmacy provider for JAYPIRCA (pirtobrutinib). The orally administered drug is for the treatment of adult patients with relapsed or refractory mantle cell lymphoma (MCL) after at least two lines of systemic therapy, including a Bruton's tyrosine kinase (BTK) inhibitor.
JAYPIRCA was approved by the FDA in January this year for relapsed or refractory MCL, an aggressive and rare form of non-Hodgkin lymphoma. The drug is a highly selective, non-covalent (reversible) BTK inhibitor.
The availability of the FDA-approved drug is expected to significantly solidify McKesson’s foothold in the global cancer treatment space and boost its U.S. Pharmaceutical business.
Significance of the Availability
McKesson’s management believes that the latest availability has the potential to purposefully improve the treatment outlook for patients suffering from MCL.
Industry Prospects
Per a report by Straits Research, the global oncology cancer drugs market was valued at $148,050.6 million in 2021 and is anticipated to reach $288,636.6 million by 2030 at a CAGR of 7.7%. Factors like the rise in the incidence of various cancer conditions and the growing popularity of advanced therapies (such as biological and targeted drug therapies) are expected to drive the market.
Given the market potential, the recent drug availability is expected to strengthen McKesson’s position in the global oncology care space.
Recent Developments
This month, McKesson announced that Biologics by McKesson has been selected by Stemline Therapeutics Inc. as a limited distribution network specialty pharmacy provider for ORSERDU (elacestrant). ORSERDU is an estrogen receptor antagonist indicated for the treatment of post-menopausal women or adult men with estrogen receptor-positive, human epidermal growth factor receptor 2-negative, ESR1-mutated advanced or metastatic breast cancer with disease progression following at least one line of endocrine therapy.
Also, this month, McKesson announced its third-quarter fiscal 2023 results, wherein it registered a robust uptick in its overall top line and bottom line. Per management, the uptick in the fiscal third-quarter revenues was primarily driven by growth in the U.S. Pharmaceutical segment. The segmental growth resulted from increased specialty product volumes, including retail national account customers, market growth and strength across the oncology platform, including increased patient visits.
In December 2022, McKesson announced that Biologics by McKesson was selected by Aadi Bioscience as a specialty pharmacy provider for FYARRO (sirolimus protein-bound particles for injectable suspension) (albumin-bound). The therapy is an mTOR inhibitor indicated for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumors.
Price Performance
Shares of the company have gained 32.6% in the past year against the industry’s 6.7% decline and the S&P 500's 9.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, McKesson carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
AMN Healthcare has lost 2.2% compared with the industry’s 23.5% decline in the past year.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.6%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 6.4%.
Cardinal Health has gained 44.4% against the industry’s 6.7% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 18.6% against the industry’s 6.7% decline over the past year.
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McKesson (MCK) Announces Availability of FDA-Cleared Drug for MCL
McKesson Corporation (MCK - Free Report) recently announced that its independent specialty pharmacy specializing in oncology and rare disease areas, Biologics by McKesson, was selected by Eli Lilly and Company (Lilly) as a specialty pharmacy provider for JAYPIRCA (pirtobrutinib). The orally administered drug is for the treatment of adult patients with relapsed or refractory mantle cell lymphoma (MCL) after at least two lines of systemic therapy, including a Bruton's tyrosine kinase (BTK) inhibitor.
JAYPIRCA was approved by the FDA in January this year for relapsed or refractory MCL, an aggressive and rare form of non-Hodgkin lymphoma. The drug is a highly selective, non-covalent (reversible) BTK inhibitor.
The availability of the FDA-approved drug is expected to significantly solidify McKesson’s foothold in the global cancer treatment space and boost its U.S. Pharmaceutical business.
Significance of the Availability
McKesson’s management believes that the latest availability has the potential to purposefully improve the treatment outlook for patients suffering from MCL.
Industry Prospects
Per a report by Straits Research, the global oncology cancer drugs market was valued at $148,050.6 million in 2021 and is anticipated to reach $288,636.6 million by 2030 at a CAGR of 7.7%. Factors like the rise in the incidence of various cancer conditions and the growing popularity of advanced therapies (such as biological and targeted drug therapies) are expected to drive the market.
Given the market potential, the recent drug availability is expected to strengthen McKesson’s position in the global oncology care space.
Recent Developments
This month, McKesson announced that Biologics by McKesson has been selected by Stemline Therapeutics Inc. as a limited distribution network specialty pharmacy provider for ORSERDU (elacestrant). ORSERDU is an estrogen receptor antagonist indicated for the treatment of post-menopausal women or adult men with estrogen receptor-positive, human epidermal growth factor receptor 2-negative, ESR1-mutated advanced or metastatic breast cancer with disease progression following at least one line of endocrine therapy.
Also, this month, McKesson announced its third-quarter fiscal 2023 results, wherein it registered a robust uptick in its overall top line and bottom line. Per management, the uptick in the fiscal third-quarter revenues was primarily driven by growth in the U.S. Pharmaceutical segment. The segmental growth resulted from increased specialty product volumes, including retail national account customers, market growth and strength across the oncology platform, including increased patient visits.
In December 2022, McKesson announced that Biologics by McKesson was selected by Aadi Bioscience as a specialty pharmacy provider for FYARRO (sirolimus protein-bound particles for injectable suspension) (albumin-bound). The therapy is an mTOR inhibitor indicated for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumors.
Price Performance
Shares of the company have gained 32.6% in the past year against the industry’s 6.7% decline and the S&P 500's 9.2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, McKesson carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Merit Medical Systems, Inc. (MMSI - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has lost 2.2% compared with the industry’s 23.5% decline in the past year.
Cardinal Health, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.6%. CAH’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 6.4%.
Cardinal Health has gained 44.4% against the industry’s 6.7% decline over the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average beat being 25.4%.
Merit Medical has gained 18.6% against the industry’s 6.7% decline over the past year.