McKesson Corporation: Difference between revisions

The company successfully emerged from the [[McKesson and Robbins scandal]] under CEO [[Phillip Musica]], one of the most notorious business and accounting scandals of the 20th century, a watershed event that led to major changes in American [[audit]]ing standards and securities regulations after being exposed in 1938.

In 1999, McKesson acquired medical information systems firm HBO & Company (HBOC).<ref>{{Cite news|last=Gomes|first=Lee|date=October 19, 1998|title=McKesson Agrees to Acquire HBO & Co. for $14.46 Billion|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/SB908750143221909000|access-date=September 3, 2020|issn=0099-9660}}</ref><ref name=":1">{{Cite web|date=September 28, 2000|title=Former executives of HBO & Co. indicted on accounting fraud charges - Sep. 28, 2000|url=https://money.cnn.com/2000/09/28/companies/mckesson/|access-date=September 3, 2020|website=CNN}}</ref> The combined firm operated as '''McKessonHBOC''' for two years.<ref>{{Cite web|date=July 26, 2001|title=McKesson Drops HBOC From Name|url=https://www.latimes.com/archives/la-xpm-2001-jul-26-fi-26746-story.html|access-date=September 3, 2020|website=Los Angeles Times|language=en-US}}</ref> Accounting irregularities at HBOC reduced the company's share price by half, and resulted in the dismissal and prosecution of many HBOC executives.<ref name=":1" />

===21st century===

In 2001, the company's name reverted to '''McKesson'''.<ref>{{cite news|author=Milt Freudenheim|title=McKesson Agrees to Pay $960 Million in Fraud Suit|newspaper=The New York Times|date=January 13, 2005|url=https://www.nytimes.com/2005/01/13/business/13settle.html|access-date=March 17, 2008|archive-url=https://web.archive.org/web/20130531090012/http://www.nytimes.com/2005/01/13/business/13settle.html|archive-date=May 31, 2013|url-status=live}}</ref> In the early 21st century, McKesson increased its market in [[Health technology|medical technology]] through acquisitions, including Per Se Technologies and RelayHealth in 2006<ref>{{Cite web|date=November 7, 2006|title=McKesson to acquire Per-Se Technologies|url=https://www.latimes.com/archives/la-xpm-2006-nov-07-fi-mckesson7-story.html|access-date=September 3, 2020|website=Los Angeles Times|language=en-US}}</ref><ref>{{Cite web|date=June 12, 2006|title=McKesson acquires RelayHealth|url=https://www.modernhealthcare.com/article/20060612/PREMIUM/606120313/mckesson-acquires-relayhealth|access-date=September 3, 2020|website=Modern Healthcare|language=en}}</ref> and Practice Partner in 2007.<ref>{{Cite web|date=February 28, 2007|title=McKesson acquires Practice Partner|url=https://www.modernhealthcare.com/article/20070228/PREMIUM/70228002/mckesson-acquires-practice-partner|access-date=September 3, 2020|website=Modern Healthcare|language=en}}</ref>

In 2017, McKesson was involved in a number of lawsuits against the state of [[Arkansas]] over the supply of [[vecuronium bromide]]. McKesson was under contract by [[Pfizer]] not to sell to any correctional facility that authorized and carried out [[capital punishment]].<ref>{{cite news|url=https://www.theguardian.com/commentisfree/2017/apr/16/arkansas-mass-executions-easter-monday-must-be-stopped|title=Can big pharma stop the Arkansas mass executions?|date=April 16, 2017|work=The Guardian|access-date=April 21, 2017|archive-url=https://web.archive.org/web/20170421194915/https://www.theguardian.com/commentisfree/2017/apr/16/arkansas-mass-executions-easter-monday-must-be-stopped|archive-date=April 21, 2017|url-status=live}}</ref><ref>[http://www.cbsnews.com/news/supplier-drug-sold-to-arkansas-not-intended-for-executions/ Supplier: Drug sold to Arkansas not intended for executions] {{Webarchive|url=https://web.archive.org/web/20170422033433/http://www.cbsnews.com/news/supplier-drug-sold-to-arkansas-not-intended-for-executions/ |date=April 22, 2017}} {{!}} CBS News</ref>

<ref>{{cite web|url=https://www.mckesson.com/about-mckesson/newsroom/press-releases/2019/brian-tyler-new-mckesson-ceo/|title=Brian Tyler Becomes McKesson's New CEO - McKesson|website=www.mckesson.com|access-date=April 12, 2019|archive-url=https://web.archive.org/web/20190412205619/https://www.mckesson.com/about-mckesson/newsroom/press-releases/2019/brian-tyler-new-mckesson-ceo/|archive-date=April 12, 2019|url-status=live}}</ref> Also in April 2019, Brian Tyler took over as CEO of the company.<ref>{{Cite web|last=Schneider|first=Rob|date=December 6, 2019|title='Don't Debate It For 40 Years, Do It' Brian Tyler, McKesson|url=https://www.bizjournals.com/dallas/news/2019/12/06/i-get-paid-to-make-the-right-decisions-for-the.html|website=Dallas Business Journal}}</ref>