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Healthcare

Drug distributor McKesson raises 2021 profit forecast on COVID-19 vaccine demand

Feb 2 (Reuters) - McKesson Corp said on Tuesday it has distributed over 25 million doses of Moderna’s COVID-19 vaccine in January and expects its contract with U.S. government to distribute vaccines to boost its full-year earnings.

Shares of the company were up 2.4% at $184, after McKesson said it was making enough ancillary kits, containing essential equipment for vaccine administration, per week to support 10 to 15 million vaccine doses.

Last year, the company signed an exclusive deal with the U.S. government to ship COVID-19 vaccines.

McKesson expects fiscal 2021 adjusted earnings to be in the range of $16.95 to $17.25 per share, up from its prior range of $16 to $16.50. (Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)

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