Despite being in legal hot water in multiple states for the number of opioids McKesson Corp. sent to patients and doctors, the pharmaceutical giant reported a three percent increase for full-year fiscal 2019 revenue and two percent up from last year’s fourth quarter.
The fourth quarter fiscal 2019 revenue was $52.4 billion, and the full year revenue was $214.3 billion. Shareholders received $1.9 billion due to share repurchases and dividends in fiscal year 2019. The company has a positive outlook looking forward due to a renewed pharmaceutical distribution relationship with CVS Health through 2023.
McKesson’s cashflow was $4.0 billion for fiscal year 2019, of which it invested $557 million internally. McKesson paid $905 for acquisitions, repurchased $1.6 billion of its common stock, and paid $292 in dividends for the year.
“McKesson delivered solid adjusted operating results, and we are pleased to conclude fiscal 2019 with adjusted EPS growth of 8%,” said Brian Tyler, chief executive officer via release. “We successfully executed in a challenging environment and took action to address the headwinds in our European business. McKesson exits fiscal 2019 with improving momentum across many of our businesses. Our financial flexibility, reinforced by a strong balance sheet and solid cash flow generation, positions us to continue delivering shareholder value.”