Word: mckesson
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Nearly 4 billion prescriptions are filled at 54,000 pharmacies across the U.S. each year. But getting medications from their makers into the hands of their takers is largely the job of a wholesaling oligopoly. Cardinal and its principal rivals--San Francisco--based McKesson Corp. and AmerisourceBergen, based in Valley Forge, Pa.--control 90% of the market, acting as middlemen to pool purchasing power and to guarantee 24/7 access to millions of medications...
...which are expected to replace 80% of the revenue from brand-name drugs by 2015. "Generics mean slow top-line growth but are ultimately much more profitable for wholesalers," says Richard Close, an analyst for Jefferies & Co. "By focusing on the big chains, Cardinal had basically ceded generics to McKesson and AmerisourceBergen...
...Cardinal announced that its second-quarter revenue increased 3%, to $25 billion, supplemented by a 38% increase in profit on the medical-supply side. But perhaps even better news came when AmerisourceBergen and McKesson unveiled their earnings a few days earlier. Whereas a year ago, one of the two might have boasted about winning some of Cardinal's business, this time around, says Gill, "the same competitor is saying the exact opposite: 'We think all of our competitors are in good places, and given the stickiness, we don't expect any big accounts to change hands.'" In other words, Cardinal...
...McKesson...
...best things we hear about Kodak is the quality of their service," says Scott Grier, a director at First Consulting Group who specializes in medical information technology. But here, again, old rivals are already a threat, while other technological powerhouses--GE, Phillips, McKesson and Siemens--have competing products and services...