1833 CE
McKesson & Robbins Founded
John McKesson and Charles Olcott establish a drug importing business in New York City, focusing on herbal remedies and pharmaceuticals. #pharmaceuticals #history
Chronological Storyline (38 Milestones)
1855 CE
McKesson & Robbins Expands
The company expands its operations to include proprietary medicines and manufacturing, becoming a major wholesaler in the East Coast. #business #expansion
1900 CE
Incorporation as McKesson & Robbins
McKesson & Robbins is formally incorporated, solidifying its position as a leading drug distributor in the United States. #corporate #history
1926 CE
Foremost Dairy Subsidiary Acquired
McKesson & Robbins acquires Foremost Dairy, diversifying into food and dairy products as part of its conglomerate strategy. #acquisitions #diversification
1938 CE
McKesson & Robbins Fraud Scandal
A major fraud is uncovered involving a fake crude drug subsidiary, leading to SEC reforms and the resignation of top executives. #fraud #scandal
1941 CE
Reorganization After Scandal
McKesson & Robbins restructures under new management, focusing on core pharmaceutical distribution and divesting non-core businesses. #restructuring #pharmaceuticals
1963 CE
Foremost-McKesson Merger
McKesson merges with Foremost Dairies, forming Foremost-McKesson Inc., a diversified food and drug conglomerate. #merger #conglomerate
1967 CE
Foremost-McKesson Acquires C.F. Mueller
The company acquires C.F. Mueller, a leading pasta manufacturer, further diversifying its food portfolio. #acquisition #food
1973 CE
Foster & Gallagher Acquisition
Foremost-McKesson expands into gift and garden products through the acquisition of Foster & Gallagher. #diversification #retail
1984 CE
Name Change to McKesson Corporation
The company changes its name from Foremost-McKesson to McKesson Corporation, reflecting a strategic refocus on healthcare and pharmaceutical distribution. #rebranding #healthcare
1986 CE
Acquisition of PCS Health Systems
McKesson acquires PCS Health Systems, a pharmacy benefits manager (PBM), entering the managed care and prescription drug plan market. #acquisition #pharmacy
1988 CE
Divestiture of Non-Healthcare Businesses
McKesson sells its food, liquor, and other non-healthcare assets to focus solely on healthcare services and distribution. #divestiture #healthcare
1994 CE
Expansion into Home Health Care
McKesson enters the home health care market by acquiring several home infusion therapy companies, broadening its service offerings. #homehealth #expansion
1996 CE
McKesson Acquires MedPartners' Pharmacy Unit
McKesson acquires the pharmacy benefits management unit of MedPartners, strengthening its PCS Health Systems division. #acquisition #PBM
1997 CE
IBM Partnership for Supply Chain Technology
McKesson partners with IBM to develop advanced supply chain management software for pharmaceutical distribution, enhancing efficiency. #technology #supplychain
1999 CE
Merger with HBO & Company (HBOC)
McKesson merges with HBO & Company, a healthcare IT firm, forming McKesson HBOC, aiming to integrate information systems with distribution. #merger #healthIT
1999 CE
Accounting Scandal at HBOC
Shortly after the merger, HBOC's accounting irregularities are revealed, leading to a restatement of earnings and a significant drop in McKesson's stock price. #scandal #accounting
2000 CE
CEO John Hammergren Appointed
John Hammergren becomes CEO, tasked with restoring investor confidence and refocusing on core pharmaceutical distribution. #leadership #CEO
2001 CE
Settlement of HBOC Shareholder Lawsuits
McKesson agrees to pay $960 million to settle shareholder class-action lawsuits related to the HBOC accounting scandal. #litigation #settlement
2002 CE
Streamlining Operations
McKesson divests its non-core health IT assets and renames back to McKesson Corporation, emphasizing its pharmaceutical distribution strength. #restructuring #pharmaceuticals
2004 CE
Acquisition of D&K Healthcare Resources
McKesson acquires D&K Healthcare Resources, a regional pharmaceutical distributor, expanding its market reach in the Midwest. #acquisition #distribution
2005 CE
Launch of McKesson One Stop
McKesson introduces a centralized distribution model for community pharmacies, improving efficiency and reducing costs. #innovation #pharmacy
2007 CE
Acquisition of Per-Se Technologies
McKesson acquires Per-Se Technologies, a healthcare revenue cycle management company, strengthening its software and services portfolio. #acquisition #healthIT
2010 CE
McKesson Canada Expansion
McKesson expands its Canadian operations through the acquisition of multiple regional drug wholesalers, becoming a dominant distributor in Canada. #expansion #Canada
2011 CE
Partnership with US Oncology
McKesson forms a strategic partnership with US Oncology to deliver integrated oncology services and specialty drug distribution. #oncology #partnership
2013 CE
Acquisition of PSS World Medical
McKesson acquires PSS World Medical, a distributor of medical supplies and equipment, expanding into physician office and long-term care markets. #acquisition #medical
2014 CE
Celesio Acquisition
McKesson acquires a majority stake in Celesio AG, a German pharmaceutical wholesaler, marking a major entry into the European market. #acquisition #Europe
2015 CE
Opioid Litigation Begins
McKesson faces lawsuits from states and municipalities alleging its distribution practices contributed to the opioid epidemic. #opioids #litigation
Jan 17, 2017 CE
DOJ Opioid Settlement Announced
McKesson agrees to pay $150 million to settle federal investigations into its opioid distribution compliance issues. #opioids #settlement
2018 CE
McKesson Ventures Invests in Digital Health
McKesson launches a venture capital arm to invest in digital health startups, focusing on AI and analytics for healthcare. #venturecapital #digitalhealth
2019 CE
Spin-Off of Change Healthcare
McKesson completes the spin-off of its health IT business, Change Healthcare, which merges with a new entity to form an independent company. #spinoff #healthIT
2019 CE
Temporary Suspension from Opioid Distribution
McKesson is temporarily suspended from distributing controlled substances by the DEA due to compliance failures, affecting operations. #opioids #DEA
2020 CE
COVID-19 Response and Vaccine Distribution
McKesson plays a key role in the U.S. government's Operation Warp Speed, distributing COVID-19 vaccines and related supplies. #COVID19 #vaccines
2021 CE
Opioid Multi-District Litigation Settlement
McKesson agrees to a $7.4 billion settlement with state and local governments over its role in the opioid crisis, to be paid over 18 years. #opioids #settlement
2022 CE
Acquisition of Rx Savings Solutions
McKesson acquires Rx Savings Solutions, a price transparency platform, enhancing its data analytics capabilities for employers. #acquisition #priceTransparency
2022 CE
Brian Tyler Becomes CEO
Brian Tyler succeeds John Hammergren as CEO, leading McKesson into a new era focused on specialty pharmacy and technology. #leadership #CEO
2023 CE
Ontada Tumor Genomics Collaboration
McKesson's Ontada oncology data unit partners with Tempus to integrate real-world data and genomics for cancer research. #oncology #data
2024 CE
Fortune 500 Top 10 Position
McKesson ranks among the top 10 of the Fortune 500, reflecting its massive revenue growth through pharmaceutical distribution and services. #fortune500 #growth