TOI - The Oncology Institute McKesson expand strategic agreement for drug distribution

Cancer-care provider The Oncology Institute (NASDAQ:TOI) on Monday said it had signed an expanded partnership with U.S.-drug distributor McKesson (NYSE:MCK) for drug distribution and clinical technology. The agreement is for multiple years and is expected to help streamline TOI's pharmaceutical distribution logistics. Cerritos, Calif.-based TOI was founded in 2007 and provides cancer-care through treatment centers, in-house dispensaries, and outpatient stem cell transplants and blood transfusions. McKesson last week said it was planning to form a joint venture combining its research arm with that of HCA Healthcare's (HCA) to create an oncology research organization. TOI stock closed 8.4% lower at $5.80 on Friday, while MCK ended 2.2% higher at $321.55.

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The Oncology Institute, McKesson expand strategic agreement for drug distribution