×

McKesson quarterly profit falls 43 pct

July 27 (Reuters) - Drug wholesaler McKesson Corp reported a 43 percent fall in quarterly profit due to slower increase in drug prices and intensifying competition.

Net income attributable to McKesson fell to $309 million, or $1.45 per share, in the first quarter ended June 30, from $542 million, or $2.38 per share, a year earlier.

Revenue rose to $51.05 billion from $49.73 billion.

The company's shareholders on Wednesday voted against its executive pay policy, and said its compensation committee will conduct a thorough review of the current executive compensation plan. (Reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty)