Aug 6 (Reuters) - U.S. drug distributor McKesson

raised its annual profit forecast and beat Wall Street earnings

estimates on Wednesday, banking on robust demand for specialty

medicines.

High profit margins for specialty medicines, which treat

complex conditions such as rheumatoid arthritis and cancer, have

encouraged companies to expand in the market.

Texas-headquartered Mckesson expects per-share profit in the

range of $37.10 to $37.90 for fiscal 2026, compared to its

previous expectation of $36.90 to $37.70. Analysts on average

expect a profit of $37.41 per share, according to data compiled

by LSEG.

Earlier in the day, peer Cencora ( COR ) also raised its

annual profit forecast and posted quarterly earnings that topped

Wall Street estimates.

Mckesson reported first-quarter revenue of $97.83 billion,

beating analysts' average estimate of $96.08 billion.

The company said it benefited from increased prescription

volumes from retail national account customers, growth in the

distribution of specialty products and contributions from

acquisitions.

On an adjusted basis, McKesson earned $8.26 per share,

compared with estimates of $8.15.

The drug distributor's U.S. pharmaceutical unit - its

largest segment by revenue - recorded sales of $89.95 billion.

That was 25% higher than the year earlier and beat analysts'

estimate of $89.52 billion.

Last quarter, Mckesson said it would spin off its

medical-surgical solutions unit into an independent company to

focus on its core drug distribution business.