McKesson Corporation’s shares climbed 3.2% on Tuesday after the company agreed to acquire Precision Medicine Group for approximately $2.25 billion.
The transaction bolsters McKesson’s oncology and multispecialty segment by adding clinical research and biopharmaceutical commercialization services. Precision Medicine Group, a global provider of clinical research services, offers biomarker intelligence, laboratory services, a global clinical research organization, market access consulting, and commercialization support to biotech and pharmaceutical companies. Upon completion, the target will integrate into McKesson’s existing operations.
The deal remains subject to customary closing conditions, including regulatory approvals. No completion timeline has been disclosed. McKesson Chairman and CEO Brian Tyler stated the acquisition advances the company’s oncology and multispecialty strategy and reinforces its commitment to delivering high-level patient care.
Precision Medicine Group CEO Margaret Keegan said the union would expand the combined entity’s clinical and commercial expertise, providing biopharmaceutical companies with broader capabilities throughout development and commercialization.
