Exhibit 99.1

  D&K Healthcare Resources Completes Acquisition of Walsh Healthcare Solutions

    Business Editors/Health/Medical Writers

    ST. LOUIS--(BUSINESS WIRE)--Dec. 8, 2003--D&K Healthcare
Resources, Inc. (Nasdaq: DKHR):

    --  Acquisition provides long-term growth platform for D&K's
        full-service distribution business and is expected to be
        immediately accretive to earnings

    --  Continued weakness in the national accounts trade class will
        impact second quarter results

    D&K Healthcare Resources, Inc. announced today that it has
completed its acquisition of Walsh HealthCare Solutions, Inc.
("Walsh"). The company also announced continued revenue and earnings
weakness in the national accounts trade class.
    "The Walsh acquisition adds important size and scale to our
full-service distribution business," said J. Hord Armstrong, III,
chairman and chief executive officer of D&K Healthcare Resources. "As
we focus more of our resources on this core business, the addition of
Walsh allows us to enter growing new markets and to increase our
service capabilities in existing markets. We welcome our new customers
and employees to the D&K Healthcare family."
    Mr. Armstrong added, "Despite the positive effects of closing the
Walsh acquisition sooner than expected, second quarter results are
falling short of earlier expectations due to lower sales and earnings
in our national accounts business. We are, however, encouraged by
inventory positions we have established so far this quarter. Assuming
normal price increase activity at the beginning of the calendar year
and contributions from Walsh, we expect a significant improvement in
second half results."

    Walsh Acquisition

    D&K expects the Walsh acquisition to be immediately accretive to
earnings per share with a modest earnings impact in fiscal 2004 and a
significant earnings impact thereafter as integration activities are
completed. D&K paid $103.3 million in cash at closing; the final
purchase price reflects adjustments made based on Walsh's estimated
working capital balances at the time of closing. D&K utilized its
existing revolving credit facility to finance the acquisition.
    Walsh will operate as a wholly owned subsidiary of D&K Healthcare.
Greg Ashby, Walsh's president and chief executive officer will remain
as president of the Walsh subsidiary and will report to Martin D.
Wilson, president and chief operating officer of D&K Healthcare
Resources.
    Walsh operates distribution centers in San Antonio and Texarkana,
Texas and Paragould, Arkansas, and serves customers in Texas,
Arkansas, Louisiana, Oklahoma, Kansas, Missouri, Illinois, Tennessee,
Kentucky and Mississippi. Approximately 96% of Walsh's $900 million in
net sales (fiscal year ended April 30, 2003) were to independent and
regional pharmacy customers with the remaining 4% to hospitals and
other healthcare providers.

    National Accounts Trade Class

    Fewer than anticipated product price increases enacted by
pharmaceutical manufacturers resulted in lower activity in the
national accounts trade class during the fiscal 2003 fourth quarter
and the fiscal 2004 first quarter. These trends continued during the
first two months of the fiscal 2004 second quarter. Changes in
manufacturer's inventory management practices have also impacted
revenues and earnings in this trade class.
    The company believes that given the current inventory level,
normal price increase activity at the beginning of the calendar year
can result in significant improvement in fiscal 2004 third and fourth
quarter results.
    D&K expects to report fiscal 2004 second quarter results the week
of January 26, 2004 and will host a conference call at that time to
fully discuss the second quarter financial results, outlook for the
year and Walsh integration plans.

    Company Description

    D&K Healthcare Resources, Inc., which had fiscal 2003 sales of
$2.2 billion, is a full-service wholesale distributor of branded and
generic pharmaceuticals and over-the-counter health and beauty aid
products. Headquartered in St. Louis, D&K serves three classes of
customers from six distribution centers: independent and regional
pharmacies with locations in one or more of 26 states, primarily in
the Midwest, Upper Midwest and South; national accounts that operate
locations in multiple regions of the United States; and other
healthcare providers including hospitals, alternate-site care
providers, and pharmacy benefit management companies in its primary
distribution area. D&K also offers a number of proprietary information
systems, marketing and business management solutions, and owns a 70%
equity stake in Pharmaceutical Buyers, Inc., a leading alternate-site
group purchasing service located in Boulder, CO. More information can
be found at www.dkhealthcare.com.
    This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
inherently subject to risks and uncertainties. The company's actual
results could differ materially from those currently anticipated due
to a number of factors, including without limitation, the competitive
nature of the wholesale pharmaceutical distribution industry with many
competitors having substantially greater resources than D&K
Healthcare, the company's ability to maintain or improve its operating
margins with the industry's competitive pricing pressures, the
company's customers and suppliers generally having the right to
terminate or reduce their purchases or shipments on relatively short
notice, the availability of investment purchasing opportunities, the
company's ability to complete and integrate acquisitions successfully,
the changing business and regulatory environment of the healthcare
industry in which the company operates, including manufacturers'
pricing or distribution policies or practices, changes in private and
governmental reimbursement or in the delivery systems for healthcare
products, changes in interest rates, and other factors set forth in
reports and other documents filed by D&K Healthcare with the
Securities and Exchange Commission from time to time. The reader
should not place undue reliance on forward-looking statements, which
speak only as of the date they are made. D&K Healthcare undertakes no
obligation to publicly update or revise any forward-looking
statements.


    CONTACT: D&K Healthcare Resources Inc., St. Louis
             Molly R. Salky, 314-290-2671
             www.dkhealthcare.com