McKesson Corp. (MCK) tapped Brian S. Tyler to lead its huge U.S. pharmaceutical business as the unit's current president, John Figueroa, prepares to leave for the top spot at nursing-home pharmacy services provider Omnicare Inc. (OCR).
The transition comes as McKesson, the largest U.S. pharmaceuticals distributor by revenue, has seen slight revenue and margin growth of late. In October it reported its fiscal second-quarter profit rose 8.6% as revenue fell short of analysts' views. Its pharmaceutical-distribution business, which makes up the vast majority of its top line, saw revenue increase 1.3%.
Tyler, a 13-year veteran of the company, has been leading McKesson's much smaller medical-surgical business. His successor has yet to be named.
Figueroa had overseen the Omnicare account for roughly a dozen years while at McKesson. He takes the new role as Omnicare has struggled with a third-quarter loss, a slashed 2010 earnings forecast and the abrupt departure of longtime Chief Executive Joel Gemunder.
McKesson shares closed Tuesday at $66.85 while Omnicare finished at $23.01. Neither was active premarket.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; firstname.lastname@example.org