Pomerantz LLP is investigating claims on behalf of investors of McKesson Corporation (“McKesson” or the “Company”). The investigation concerns whether McKesson and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 25, 2017, McKesson announced its financial and operating results for the third quarter of fiscal year 2017. The Company reported an Adjusted Earnings per diluted share of $3.05, down 4% from the same period in the prior year, and further reported lower-than-expected North American Pharmaceutical Distribution and Services business unit revenue of $41.7 billion. McKesson informed investors that its disappointing financial results were “a result of the generic pricing actions [McKesson] began to implement late in our second quarter,” as McKesson’s “prices were ultimately set at a lower level than our initial expectations that were included in our previous guidance.”
On this news, McKesson’s stock price fell $12.55 per share, or roughly 8.3%, to close at $138.55 per share on January 26, 2017.