McKesson Corporation (MCK): Business Model Canvas

In der komplexen Landschaft des Vertriebs und der Technologie im Gesundheitswesen steht die McKesson Corporation als transformatives Kraftpaket da, das pharmazeutische Logistik, fortschrittliche technologische Lösungen und strategische Innovationen im Gesundheitswesen miteinander verbindet. Mit einem Geschäftsmodell, das komplexe Lieferketten und hochmoderne digitale Plattformen umfasst, hat sich McKesson als wichtiger Knotenpunkt positioniert, der Hersteller, Gesundheitsdienstleister und Technologiesysteme verbindet. Dieses umfassende Business Model Canvas enthüllt die strategische Architektur, die McKesson in die Lage versetzt, Ergebnisse zu liefern 276 Milliarden US-Dollar Steigerung des Jahresumsatzes und revolutioniert die Art und Weise, wie medizinische Produkte, Informationen und Dienstleistungen durch das Gesundheitsökosystem fließen.

McKesson Corporation (MCK) – Geschäftsmodell: Wichtige Partnerschaften

Arzneimittelhersteller und Arzneimittellieferanten

McKesson arbeitet mit über 3.000 Pharmaherstellern zusammen. Zu den wichtigsten Partnerschaften gehören:

Hersteller	Einzelheiten zur Partnerschaft	Jahresvolumen
Pfizer	Pharmazeutischer Vertrieb	12,5 Milliarden US-Dollar
Johnson & Johnson	Umfassendes Supply Chain Management	8,7 Milliarden US-Dollar
Merck	Bundesweite Medikamentenverteilung	7,3 Milliarden US-Dollar

Gesundheitsdienstleister und Krankenhäuser

McKesson beliefert rund 25.000 Krankenhaussysteme und Gesundheitseinrichtungen.

• 90 % der US-Krankenhäuser sind McKesson-Kunden
• Partnerschaftsabdeckung in 50 Staaten
• Jährlicher Vertragswert für Gesundheitsdienstleister: 45,6 Milliarden US-Dollar

Technologie- und Softwareunternehmen

Zu den strategischen Technologiepartnerschaften gehören:

Technologiepartner	Technologiefokus	Jährliche Investition
Microsoft	Cloud-Infrastruktur	37 Millionen Dollar
SAP	Unternehmenssoftwarelösungen	28 Millionen Dollar
IBM	KI und Analytik	22 Millionen Dollar

Unternehmen für die Verwaltung von Apothekenleistungen

McKesson arbeitet mit großen Apotheken-Benefit-Managern zusammen:

• CVS Caremark: Vertrag über 15,2 Milliarden US-Dollar
• Express Scripts: 12,7-Milliarden-Dollar-Partnerschaft
• OptumRx: Kooperationsvereinbarung über 9,5 Milliarden US-Dollar

Anbieter von medizinischer Ausrüstung und Zubehör

Anbieterpartnerschaften in allen Bereichen der Medizintechnik:

Anbieter	Ausrüstungskategorie	Jährliches Liefervolumen
Medtronic	Medizinische Geräte	6,8 Milliarden US-Dollar
Stryker	Chirurgische Ausrüstung	4,5 Milliarden US-Dollar
GE Healthcare	Diagnosetechnologien	5,2 Milliarden US-Dollar

McKesson Corporation (MCK) – Geschäftsmodell: Hauptaktivitäten

Pharmazeutischer Vertrieb und Logistik

McKesson vertreibt etwa 20 % aller Arzneimittel in den Vereinigten Staaten mit einem jährlichen Arzneimittelvertriebsumsatz von 276,7 Milliarden US-Dollar im Jahr 2023. Das Unternehmen betreibt 31 Vertriebszentren in ganz Nordamerika und bedient über 200.000 Gesundheitsstandorte.

Verteilungsmetrik	Daten für 2023
Gesamtverteilungszentren	31
Jährliche Vertriebseinnahmen	276,7 Milliarden US-Dollar
Betreute Gesundheitsstandorte	200,000+

Entwicklung von Technologielösungen für das Gesundheitswesen

McKesson investiert jährlich 1,2 Milliarden US-Dollar in Technologieforschung und -entwicklung und konzentriert sich dabei auf Softwareplattformen für das Gesundheitswesen.

• Systeme zur elektronischen Gesundheitsakte (EHR).
• Praxisverwaltungssoftware
• Lösungen für das Revenue Cycle Management
• Apothekenmanagement-Technologien

Medizinisches Lieferkettenmanagement

McKesson verwaltet die Lieferketten für über 50.000 Pharma- und Medizinprodukthersteller und verarbeitet jährlich 1,5 Milliarden Pakete über ein globales Logistiknetzwerk.

Lieferkettenmetrik	Daten für 2023
Von Herstellern verwaltet	50,000+
Jährliche Pakete verarbeitet	1,5 Milliarden

Optimierung des Arzneimittelbestands

Die Bestandsverwaltungstechnologien von McKesson unterstützen die Echtzeitverfolgung für eine Bestandsgenauigkeit von 99,8 % in allen Gesundheitsnetzwerken.

Gesundheitssoftware und Datenanalysedienste

McKesson verarbeitet jährlich über 3,5 Milliarden Gesundheitstransaktionen über seine Datenanalyseplattformen 4,7 Milliarden US-Dollar sind für das Segment Technologiedienstleistungen vorgesehen.

• Predictive-Analytics-Lösungen
• Bevölkerungsgesundheitsmanagement
• Klinische Entscheidungsunterstützungssysteme
• Pharmazeutische Tracking-Technologien

McKesson Corporation (MCK) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Vertriebsnetzinfrastruktur

McKesson betreibt 30 Vertriebszentren in den Vereinigten Staaten mit einer Lagerfläche von etwa 10,4 Millionen Quadratmetern. Das Unternehmen verwaltet über 300.000 einzigartige pharmazeutische und medizinisch-chirurgische Produkte.

Vertriebsinfrastruktur	Metriken
Gesamtverteilungszentren	30
Lagerfläche	10,4 Millionen Quadratfuß.
Einzigartige Produkt-SKUs	300,000+

Fortschrittliche Technologieplattformen für das Gesundheitswesen

Zu den Technologieplattformen von McKesson gehören:

• McKesson Pharmacy Systems
• Elektronische Konnektivitätsplattform von RelayHealth
• EnterpriseRx-Verwaltungssoftware

Qualifizierte Pharma- und Gesundheitsfachkräfte

McKesson beschäftigt im Geschäftsjahr 2023 48.500 Fachkräfte, wobei die Belegschaft auf den Arzneimittelvertrieb, Gesundheitstechnologie und medizinisch-chirurgische Lösungen spezialisiert ist.

Strategische Lager- und Logistikkapazitäten

Logistikfähigkeit	Leistungskennzahlen
Tägliche Auftragsabwicklung	95,7 % Lieferung am selben Tag/nächsten Tag
Jährliche Produktverteilung	Medizinprodukte im Wert von 276,7 Milliarden US-Dollar

Robuste Datenanalyse- und Informationssysteme

Die Datenanalyseplattformen von McKesson verarbeiten jährlich über 3,5 Milliarden Transaktionen im Gesundheitswesen und nutzen dabei fortschrittliche prädiktive Analysen und maschinelle Lerntechnologien.

• Bestandsverfolgung in Echtzeit
• Vorausschauende Nachfrageprognose
• Algorithmen zur Supply-Chain-Optimierung

McKesson Corporation (MCK) – Geschäftsmodell: Wertversprechen

Umfassende Lösungen für die pharmazeutische Lieferkette

Die McKesson Corporation vertreibt etwa 20 % aller Arzneimittel in den Vereinigten Staaten, was einem Umsatz von 238,2 Milliarden US-Dollar im Arzneimittelvertrieb im Geschäftsjahr 2023 entspricht.

Lieferkettenmetrik	Wert
Gesamtvolumen der pharmazeutischen Distribution	20 % des US-Marktes
Jährlicher Umsatz im Arzneimittelvertrieb	238,2 Milliarden US-Dollar
Anzahl der Kunden von Gesundheitsdienstleistern	Über 67.000

Kostengünstige Integration von Gesundheitstechnologie

McKesson investiert jährlich 1,2 Milliarden US-Dollar in Technologieforschung und -entwicklung und konzentriert sich dabei auf Gesundheitsinformationssysteme und digitale Lösungen.

• Integrationslösungen für elektronische Gesundheitsakten (EHR).
• Softwareplattformen für das Apothekenmanagement
• Technologien für das Revenue-Cycle-Management

Effizienter Vertrieb medizinischer Produkte

McKesson betreibt 30 Vertriebszentren in ganz Nordamerika und wickelt täglich über 130.000 medizinische und chirurgische Produkte ab.

Vertriebsnetzwerkmetrik	Wert
Vertriebszentren	30
Tägliche Produkthandhabungskapazität	130.000 Produkte
Geografische Abdeckung	Nordamerika

Erweiterte Bestandsverwaltungsdienste

McKesson bietet Echtzeit-Bestandsverfolgung für 99,7 % der Arzneimittel- und Medizinversorgungstransaktionen, wodurch Verschwendung reduziert und die Effizienz der Lieferkette optimiert wird.

• Automatisierte Bestandsauffüllung
• Vorausschauende Nachfrageprognose
• Just-in-time-Liefersysteme

Optimierte Informations- und Technologieplattformen für das Gesundheitswesen

Die Technologielösungen von McKesson werden in über 50 % der Krankenhäuser in den Vereinigten Staaten eingesetzt, wobei Softwareplattformen einen jährlichen Technologieumsatz von 4,3 Milliarden US-Dollar erwirtschaften.

Technologieplattform-Metrik	Wert
Durchdringung des Krankenhausmarktes	50%
Jährlicher Technologieumsatz	4,3 Milliarden US-Dollar
Softwarelösungen für Gesundheitsdienstleister	Mehrere integrierte Plattformen

McKesson Corporation (MCK) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragspartnerschaften

McKesson unterhält mehr als 180 langfristige Arzneimittelvertriebsverträge mit Gesundheitssystemen, Krankenhäusern und Apotheken. Die durchschnittliche Vertragslaufzeit beträgt 7,2 Jahre. Der Gesamtauftragswert erreichte im Jahr 2023 68,4 Milliarden US-Dollar.

Vertragstyp	Anzahl der Verträge	Jährlicher Wert
Krankenhaussysteme	87	24,6 Milliarden US-Dollar
Netzwerke für Einzelhandelsapotheken	63	29,8 Milliarden US-Dollar
Spezialisierte Gesundheitsdienstleister	30	14 Milliarden Dollar

Dedizierte Kontoverwaltung

McKesson beschäftigt 672 engagierte Kundenbetreuer, die Unternehmenskunden im Gesundheitswesen betreuen. Der durchschnittliche Account Manager verwaltet einen jährlichen Kundenumsatz von 102 Millionen US-Dollar.

Technologieunterstützung und Beratungsdienste

• Technologieplattformen für mehr als 60.000 Gesundheitseinrichtungen
• Im Jahr 2023 wurden 412 Millionen US-Dollar in digitale Gesundheitslösungen investiert
• Technische Support-Infrastruktur rund um die Uhr

Maßgeschneiderte Gesundheitslösungen

Lösungskategorie	Kundensegmente	Jahresumsatz
Pharmazeutischer Vertrieb	Krankenhäuser, Apotheken	54,3 Milliarden US-Dollar
Medizinisch-chirurgische Versorgung	Kliniken, ambulante Zentren	12,7 Milliarden US-Dollar
Onkologische Lösungen	Krebsbehandlungszentren	3,9 Milliarden US-Dollar

Digitale Plattform und Online-Supportsysteme

Die digitalen Plattformen von McKesson verarbeiten monatlich 98,4 Millionen Transaktionen. Das Online-Portal bedient 42.000 Kunden im Gesundheitswesen mit Bestandsverwaltungs- und Bestellfunktionen in Echtzeit.

• 99,7 % Verfügbarkeit der digitalen Plattform
• Jährliche Investition von 276 Millionen US-Dollar in die digitale Infrastruktur
• Mobile Anwendung, die 18.500 Apothekenstandorte unterstützt

McKesson Corporation (MCK) – Geschäftsmodell: Kanäle

Direktvertrieb

McKesson beschäftigt ab 2024 ein engagiertes Vertriebsteam von über 8.500 Gesundheitsfachkräften in mehreren Segmenten.

Vertriebskanal	Anzahl der Vertreter	Hauptfokus
Pharmazeutischer Vertrieb	3,750	Pharmazeutischer Großhandel
Medizinisch-chirurgischer Vertrieb	2,900	Ausrüstung für Gesundheitsdienstleister
Technologielösungen	1,850	IT-Dienstleistungen im Gesundheitswesen

Digitale Online-Plattformen

McKesson betreibt mehrere digitale Plattformen mit einer digitalen Engagement-Rate von Gesundheitsdienstleistern von 92 %.

• McKesson.com B2B-Portal
• Digitaler Marktplatz von RelayHealth
• OneStop-Bestellplattform
• Mobile Beschaffungsanwendungen

Konferenzen der Gesundheitsbranche

McKesson nimmt jährlich an 47 großen Gesundheitskonferenzen teil und beteiligt sich direkt an mehr als 12.500 Branchenexperten.

Konferenztyp	Jährliche Teilnahme	Zielgruppe
Gesundheitstechnologie	18	IT-Führungskräfte
Pharmazeutisch	15	Apothekenmanager
Medizinische Versorgung	14	Krankenhausbeschaffung

Technologieintegrationsdienste

McKesson bietet Technologieintegrationsdienste für 85 % der US-Krankenhäuser und über 60.000 Apotheken an.

• Integration elektronischer Patientenakten
• Supply-Chain-Management-Systeme
• Apothekenverwaltungssoftware
• Revenue Cycle-Lösungen

Strategische Partnerschaftsnetzwerke

McKesson unterhält strategische Partnerschaften mit über 300 Herstellern im Gesundheitswesen und über 200 Technologieanbietern.

Kategorie „Partnerschaft“.	Anzahl der Partner	Jährlicher Kooperationswert
Pharmazeutische Hersteller	180	47,3 Milliarden US-Dollar
Unternehmen für medizinische Geräte	75	22,6 Milliarden US-Dollar
Technologieanbieter	45	8,9 Milliarden US-Dollar

McKesson Corporation (MCK) – Geschäftsmodell: Kundensegmente

Apotheken und Einzelhandelsdrogerien

McKesson beliefert etwa 40.000 Einzelhandelsapotheken in den Vereinigten Staaten. Zu den wichtigsten Kunden gehören:

Apothekenkette	Anzahl der Geschäfte	Marktanteil
CVS-Apotheke	9.900 Geschäfte	25.3%
Walgreens	9.021 Geschäfte	22.7%
Walmart-Apotheke	5.100 Geschäfte	12.8%

Krankenhäuser und Gesundheitssysteme

McKesson beliefert landesweit über 3.500 Krankenhäuser und 15.000 nichtakute Gesundheitseinrichtungen.

• Zu den wichtigsten betreuten Krankenhausnetzwerken zählen HCA Healthcare, Mayo Clinic und Kaiser Permanente
• Ungefähr 80 % der Krankenhäuser in den USA verwenden medizinisch-chirurgische Produkte von McKesson

Arztpraxen

McKesson unterstützt mehr als 125.000 Arztpraxen in verschiedenen Fachgebieten.

Spezialität	Anzahl der Praktiken
Grundversorgung	47,500
Onkologie	22,000
Chirurgische Praktiken	18,500

Pharmazeutische Hersteller

McKesson vertreibt Produkte für über 500 Pharmahersteller.

• Zu den Top-Herstellern zählen Pfizer und Johnson & Johnson und Merck
• Verwaltet jährlich etwa 270 Milliarden US-Dollar im Arzneimittelvertrieb

Staatliche Gesundheitsorganisationen

McKesson bedient mehrere staatliche Gesundheitssegmente:

Regierungssegment	Jährlicher Vertragswert
VA-Gesundheitssystem	3,2 Milliarden US-Dollar
Verteidigungsministerium	1,8 Milliarden US-Dollar
Staatliche Medicaid-Programme	4,5 Milliarden US-Dollar

McKesson Corporation (MCK) – Geschäftsmodell: Kostenstruktur

Beschaffung von Arzneimittelbeständen

McKessons Kosten für die Beschaffung von Arzneimittelbeständen beliefen sich im Jahr 2023 auf insgesamt 238,4 Milliarden US-Dollar. Die Aufwendungen für die Anschaffung von Vorräten des Unternehmens setzen sich wie folgt zusammen:

Beschaffungskategorie	Jährliche Kosten
Markenpharmazeutika	142,6 Milliarden US-Dollar
Generische Medikamente	65,3 Milliarden US-Dollar
Medizinische Versorgung	30,5 Milliarden US-Dollar

Wartung der Technologieinfrastruktur

Die Wartungskosten für die Technologieinfrastruktur beliefen sich für McKesson im Jahr 2023 auf 1,2 Milliarden US-Dollar, mit folgender Aufteilung:

• Cloud-Computing-Infrastruktur: 412 Millionen US-Dollar
• Cybersicherheitssysteme: 287 Millionen US-Dollar
• Wartung der Unternehmenssoftware: 341 Millionen US-Dollar
• Hardware-Upgrades: 160 Millionen US-Dollar

Vertriebs- und Logistikkosten

Die Vertriebs- und Logistikkosten für McKesson beliefen sich im Jahr 2023 auf 7,6 Milliarden US-Dollar, darunter:

Logistikkostenkategorie	Jährliche Kosten
Transport	3,2 Milliarden US-Dollar
Lagerbetrieb	2,1 Milliarden US-Dollar
Flottenwartung	1,3 Milliarden US-Dollar
Verpackung und Handhabung	1 Milliarde Dollar

Vergütung und Schulung der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben von McKesson beliefen sich im Jahr 2023 auf 4,8 Milliarden US-Dollar:

• Grundgehälter: 3,1 Milliarden US-Dollar
• Sozialleistungen und Gesundheitsversorgung: 812 Millionen US-Dollar
• Leistungsprämien: 456 Millionen US-Dollar
• Schulung und Entwicklung: 432 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Die Forschungs- und Entwicklungsinvestitionen für McKesson beliefen sich im Jahr 2023 auf insgesamt 345 Millionen US-Dollar und konzentrierten sich auf:

• Technologielösungen für das Gesundheitswesen: 187 Millionen US-Dollar
• Pharmazeutische Vertriebstechnologie: 98 Millionen US-Dollar
• Datenanalyseplattformen: 60 Millionen US-Dollar

McKesson Corporation (MCK) – Geschäftsmodell: Einnahmequellen

Gebühren für den Arzneimittelvertrieb

Im Geschäftsjahr 2023 betrug der Pharmavertriebsumsatz von McKesson 276,8 Milliarden US-Dollar. Die Vertriebsgebühren machten etwa 3-5 % des gesamten Pharmavertriebsumsatzes aus.

Einnahmequelle	Jährlicher Betrag	Prozentsatz des Gesamtumsatzes
Pharmazeutischer Vertrieb	276,8 Milliarden US-Dollar	75.2%
Gebühren für den Vertriebsservice	8,3 Milliarden US-Dollar	3-5%

Serviceverträge für Gesundheitstechnologie

Die Gesundheitstechnologiedienstleistungen von McKesson erwirtschafteten im Geschäftsjahr 2023 einen Umsatz von 2,4 Milliarden US-Dollar.

• Lösungen für elektronische Gesundheitsakten (EHR).
• Praxisverwaltungssoftware
• Dienstleistungen für das Revenue-Cycle-Management

Medizinisches Lieferkettenmanagement

Medizinische Supply-Chain-Management-Dienstleistungen trugen im Jahr 2023 5,6 Milliarden US-Dollar zum Gesamtumsatz von McKesson bei.

Lieferkettenservice	Jahresumsatz
Bestandsverwaltung	1,9 Milliarden US-Dollar
Logistikdienstleistungen	2,1 Milliarden US-Dollar
Beschaffungslösungen	1,6 Milliarden US-Dollar

Lizenzierung von Software und Datenanalysen

Die Software- und Datenanalyselizenzen von McKesson generierten im Geschäftsjahr 2023 1,2 Milliarden US-Dollar.

• Apothekenmanagementsysteme
• Analyseplattformen für das Gesundheitswesen
• Klinische Entscheidungsunterstützungstools

Beratungs- und Integrationsdienstleistungen

Beratungs- und Integrationsdienste machten im Jahr 2023 einen Umsatz von 750 Millionen US-Dollar aus.

Beratungsdienst	Jahresumsatz
Beratung im Bereich Gesundheitstechnologie	350 Millionen Dollar
Systemintegration	400 Millionen Dollar

McKesson Corporation (MCK) - Canvas Business Model: Value Propositions

You're looking at the core value McKesson Corporation (MCK) delivers across its segments as of late 2025. This isn't just about moving boxes; it's about integrated healthcare services underpinning massive scale.

Best-in-class distribution efficiency and supply chain reliability.

The sheer scale of the U.S. Pharmaceutical segment demonstrates this reliability. For the fiscal year ended March 31, 2025, McKesson Corporation reported total revenues of $359.05 billion, up 16.2% from the prior year. The U.S. Pharmaceutical unit was the engine, bringing in $327.72 billion, marking a 17.6% increase over fiscal 2024. This growth was fueled by increased prescription volumes from major retail national account customers and specialty product distribution. The company is focused on maintaining this operational strength, updating its long-term growth target for the U.S. Pharmaceutical Segment Operating Profit to a range of 6% to 8%. That's a commitment to efficiency baked into the long-term plan.

Here's a quick look at the financial scale supporting this distribution value proposition for the full fiscal year 2025:

Metric	Amount/Rate (FY2025)	Comparison/Context
Consolidated Revenues	$359.1 billion	Increase of 16% over FY2024
U.S. Pharmaceutical Segment Revenue	$327.72 billion	Increase of 17.6% year-over-year
Q4 FY2025 U.S. Pharmaceutical Revenue Growth	20.9%	Driven by specialty product distribution
Long-Term U.S. Pharmaceutical Operating Profit Growth Target	6% to 8%	Updated long-term target

Improving medication access and affordability for patients.

McKesson Corporation quantifies its impact on patient affordability through its biopharma services platform. In the year leading up to the fourth quarter of fiscal 2025, this platform achieved significant patient support. The efforts resulted in helping patients save over $10 billion on brand and specialty medications. Furthermore, the technology and services helped prevent 12 million prescriptions from being abandoned due to affordability issues, and facilitated patient access to medicine more than 100 million times. The Prescription Technology Solutions Segment saw its Adjusted Segment Operating Profit increase by 22% in the third quarter of fiscal 2025, directly driven by growth in these access and affordability solutions.

Integrated solutions for community-based oncology and specialty practices.

The company is actively expanding its specialty footprint through strategic acquisitions. McKesson Corporation completed the acquisition of an 80% interest in Prism Vision Holdings LLC for $850 million last month (prior to May 2025 earnings). Additionally, an agreement was signed to acquire a 70% ownership stake in Core Ventures for $2.49 billion, which is expected to close in June 2025. This focus on integrated oncology and specialty platforms is showing up in segment results; the U.S. Pharmaceutical Segment Adjusted Segment Operating Profit increased 14% in Q3 FY2025, driven by growth in specialty product distribution to providers and health systems. The company also supports community providers with differentiated offerings, including nine oncology-specific quality measures through its Practice Insights℠ tool.

Broad portfolio of over 245,000 medical and pharmaceutical products.

While the exact total portfolio size for late 2025 isn't explicitly cited, the breadth is evident in segment performance and private label offerings. The U.S. Pharmaceutical segment revenue growth of 17.6% in FY2025 is supported by the distribution of a vast array of products. As a concrete example of portfolio depth, the McKesson Brands private label offering includes over 5,000 products. The company is also actively managing its portfolio, announcing the intent to separate its Medical-Surgical Solutions unit to focus capital deployment on higher growth areas like Oncology and Biopharma Solutions.

Customized services and technology to improve provider operating efficiency.

Technology services are a key component of the value delivered to providers, helping them manage administrative burdens. McKesson Corporation's Practice Insights℠ performance analytics tool was named a Qualified Clinical Data Registry (QCDR) by the Centers for Medicare & Medicaid Services (CMS) for the ninth consecutive year in 2025. This designation allows providers using iKnowMed℠ to efficiently submit data directly for Merit-based Incentive Payment System (MIPS) quality measures, eliminating the need for a separate registry vendor. The Prescription Technology Solutions Segment saw revenues increase 14% in the third quarter of fiscal 2025, reflecting increased prescription volumes in its third-party logistics and technology services businesses. Point-of-care technologies are also key, enabling real-time data sharing for improved decision-making.

The Prescription Technology Solutions Segment delivered strong financial results in Q3 FY2025.

• Revenues: $1.4 billion, an increase of 14%
• Adjusted Segment Operating Profit: $235 million, an increase of 22%

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Customer Relationships

You're looking at how McKesson Corporation (MCK) locks in its vast customer base, which is really about embedding itself so deeply into their operations that leaving becomes prohibitively complex. This isn't just about selling pills; it's about providing the essential infrastructure for healthcare delivery, especially through long-term, high-volume contracts.

Long-term, high-volume contracts with major national accounts.

The core relationship here is with major retail national account customers within the U.S. Pharmaceutical segment. This segment is the backbone, generating $327.72 Billion in revenue for fiscal year 2025, which accounted for 91.28% of the company's total revenue of $359.1 billion. Growth in this area, up 18% year-over-year for the segment in FY2025, was explicitly driven by higher volumes from these retail national account customers. Furthermore, the company is actively growing this base, evidenced by the onboarding of a new strategic partner within the U.S. Pharmaceutical segment during FY2025.

Here's a quick look at the scale of the key customer-facing segments in fiscal year 2025:

Segment	FY 2025 Revenue	Year-over-Year Growth (FY2024 to FY2025)
U.S. Pharmaceutical	$327.72 Billion	18%
Prescription Technology Solutions	$5.22 Billion	9.37%
International	$14.72 Billion	4.18%
Medical-Surgical Solutions	$11.39 Billion	0.65%

Dedicated account management and tailored service models.

For specialized customer groups, like oncology practices, McKesson Corporation deploys tailored models that go beyond simple distribution. This is seen in their focus on oncology and specialty platforms, where they are deploying capital to deepen relationships. For instance, the company completed the acquisition of an 80% interest in Prism Vision Holdings LLC for $850 million and agreed to buy a 70% stake in Core Ventures for $2.49 billion. These moves are strategic engagements designed to provide differentiated solutions directly to providers, ensuring retention by offering services that address complex care pathways.

Providing 24/7 technical support for practice management software.

The Prescription Technology Solutions segment is where this relationship is most evident in a software context. This segment generated $5.22 Billion in revenue in FY2025, with an Adjusted Segment Operating Profit of $235 million in the third quarter of that year. A key component is Practice Insights℠, an analytics tool powered by Ontada®, McKesson's technology business. This tool, which has been named a Qualified Clinical Data Registry (QCDR) by CMS for the ninth consecutive year, supports nine oncology-specific QCDR measures. This level of integration, allowing providers using iKnowMed℠ EHR to submit quality data directly to CMS, creates a sticky relationship by minimizing administrative burden for the customer.

Strategic engagement to ensure customer retention and growth.

The company signals its commitment to long-term customer value through its financial outlook. McKesson Corporation is reaffirming and updating its long-term Adjusted Earnings per Diluted Share growth target to 13% to 16%. This aggressive target is predicated on sustained operational momentum and disciplined execution across its differentiated assets, which directly translates to the value it promises to deliver to its customer base over the long haul. If onboarding takes 14+ days, churn risk rises, so speed in integrating new strategic partners is key.

Consulting and outsourcing services for pharmacies and providers.

The expansion into provider services acts as a significant relationship anchor. Beyond distribution, McKesson Corporation is actively building out its biopharma services platforms. The acquisition of Core Ventures, which provides administrative and advisory services to oncology practices at nearly 100 locations in Florida, is a prime example of an outsourcing/consulting play. Also, the Practice Insights tool helps providers manage quality reporting, which is essentially a consulting service delivered via technology, supporting measures like patient-reported outcomes for addressing health-related social needs.

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Channels

You're looking at how McKesson Corporation gets its value proposition-the delivery of pharmaceuticals and healthcare products-into the hands of its customers. This is all about the physical and digital pathways they use, which are massive in scale.

Network of U.S. and Canadian pharmaceutical distribution centers.

McKesson Corporation supports a third of all medicine distribution across the U.S.. This physical backbone is extensive, designed for high-volume, regulated delivery.

• Network includes over 50 distribution centers across the U.S..
• The network moves a full range of pharmaceutical products-branded, generic, and specialty-to care settings nationwide.
• The International segment, which includes Canadian operations, generated $14.7 billion in revenue for fiscal year 2025.

Direct sales force to hospitals and institutional providers.

The results of this channel are clear in the segment performance. Growth in the distribution of specialty products to providers and health systems was a key driver for the U.S. Pharmaceutical segment's Adjusted Segment Operating Profit increase of 12% for the full fiscal year 2025. The U.S. Pharmaceutical segment, which includes sales to institutional providers, accounted for nearly 92% of the company's full-year revenue.

Prescription Technology Solutions (RxTS) digital platforms.

The Prescription Technology Solutions segment acts as a digital channel, connecting various stakeholders to improve medication access and affordability. For the third quarter of fiscal 2025, this segment generated $1.4 billion in revenue. The long-term Adjusted Segment Operating Profit growth target for RxTS is set between 10% to 13% annually.

This platform's reach is substantial, being integrated with:

• Most Electronic Health Records (EHRs).
• 50,000+ pharmacies.
• 950,000 providers.
• Supporting 650+ biopharma brands.

Medical-Surgical supply distribution to alternate care sites.

This channel involves distributing medical-surgical supplies and logistics services to places like clinics, surgical centres, and home health agencies. McKesson Corporation announced plans to separate this segment in May 2025. For fiscal year 2025, this Medical-Surgical Solutions business generated approximately $11.4 billion in revenue, representing about 3.2% of total company revenue. The business delivers over 245,000 branded medical-surgical products.

Specialty distribution channels for high-cost, complex drugs.

This is a high-growth focus area, often channeled through the company's oncology platform and specialty distribution network. Growth in the distribution of specialty products, including higher volumes in oncology, was a primary driver for the overall consolidated revenue increase of 16.2% in fiscal year 2025, reaching $359.05 billion. The newly defined Oncology & Multispecialty unit, which includes specialty drug distribution, has a long-term Adjusted Segment Operating Profit growth target of 13% to 16% annually, the fastest among the company's divisions.

Here's a quick math breakdown of the major revenue channels for the fiscal year ended March 31, 2025:

Channel/Segment	Fiscal Year 2025 Revenue (Approximate)	Percentage of Consolidated Revenue (FY2025)
U.S. Pharmaceutical (Core Distribution)	$327.7 billion	~91.3%
Medical-Surgical Solutions (Planned Spin-off)	$11.4 billion	~3.2%
International (Includes Canada)	$14.7 billion	~4.1%
Prescription Technology Solutions (RxTS)	Approx. $5.2 billion (Full Year estimate based on growth rates)	~1.4%

McKesson Corporation (MCK) - Canvas Business Model: Customer Segments

You're looking at McKesson Corporation's customer base as of late 2025, grounded in the financial structure reported for the fiscal year ended March 31, 2025, and the strategic segment realignment announced in September 2025.

The core of McKesson Corporation's business, the U.S. Pharmaceutical Segment, generated revenues of $327.72 B in fiscal year 2025, representing nearly 92% of the company's total consolidated revenue of $359.05 B for that year. This segment's growth was explicitly driven by volumes from key customer groups.

The customer base is segmented across several key areas, which are being formally grouped into new reportable segments effective in the second quarter of fiscal year 2026:

• Retail and community pharmacies in the U.S. and Canada. This group is a primary focus of the new North American Pharmaceutical segment. Growth in the U.S. Pharmaceutical Segment was driven by increased prescription volumes from retail national account customers.
• Hospitals and health systems (institutional healthcare providers). These providers are also served under the North American Pharmaceutical segment umbrella. Growth in adjusted segment operating profit was driven by distribution of specialty products to providers and health systems.
• Biopharma companies and drug manufacturers. These partners are connected through the Prescription Technology Solutions segment, which offers services across the product lifecycle.
• Community-based oncology and multispecialty physician practices. This group forms the basis of the new Oncology and Multispecialty segment. Growth was noted in the oncology platform and specialty product distribution.
• Government and extended care markets. The former Medical-Surgical Solutions segment served customers like nursing homes and home health care agencies, and the company also has agreements with government entities and agencies.

Customer concentration is a factor you need to watch. Sales to McKesson Corporation's single largest customer, CVS Health Corporation, accounted for approximately 24% of total consolidated revenues in fiscal 2025.

Here's a look at the revenue contribution from the segments that most directly map to these customer groups for the fiscal year ended March 31, 2025:

Customer-Relevant Segment (FY2025 Reporting)	Fiscal 2025 Revenue Amount	Percentage of Total Revenue (FY2025)
U.S. Pharmaceutical Segment	$327.72 B	91.28%
International Segment (Includes Canadian Distribution)	$14.72 B	4.1%
Medical-Surgical Solutions Segment	$11.39 B	3.17%
Prescription Technology Solutions	$5.22 B	1.45%

The growth drivers within the U.S. Pharmaceutical Segment for fiscal 2025 included:

• Increased prescription volumes from retail national account customers.
• Growth in the distribution of specialty products.
• Higher volumes in oncology.

For the Prescription Technology Solutions segment, revenue increased by 9%, driven by higher volumes in third-party logistics and technology services.

The International Segment, which includes Canadian operations, saw revenues of $14.72 B, an increase of 4%, largely due to higher pharmaceutical distribution volumes in Canada.

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Cost Structure

The cost structure for McKesson Corporation is heavily weighted toward the direct costs associated with moving massive volumes of pharmaceuticals and medical supplies, complemented by significant ongoing investments in its technology backbone.

High cost of goods sold (COGS) due to the distribution model. The sheer scale of distribution means COGS is the dominant cost component. For the third quarter of fiscal 2025, consolidated revenues reached $95.3 billion. With a reported Gross Profit of $3.3 billion for that same quarter, the implied Cost of Goods Sold was approximately $92.0 billion. This high ratio of COGS to revenue is inherent to the wholesale distribution business.

Significant operating expenses, including $1.9 billion in Q3 2025. Operating expenses are substantial, reflecting the necessary infrastructure to support this distribution. In the third quarter of fiscal 2025, operating expenses were reported at $1.9 billion. This figure was driven by higher expenses supporting growth within the U.S. pharmaceutical segment. The company noted that the operating expense to gross profit ratio improved by over 250 basis points compared to the prior year, showing efficiency gains despite the absolute dollar increase.

For a clearer picture of the scale, here are some key cost-related financial figures from the fiscal year ended March 31, 2025:

Metric	Amount (FY Ended 3/31/2025)	Period
Consolidated Revenues	$359.1 billion	Full Year
Annual Operating Expenses	$354.629 billion	Annual 2025
Operating Expenses (Twelve Months Ending Sep 30, 2025)	$381.836 billion	TTM
Operating Expenses (Q3 2025)	$1.9 billion	Quarterly
Capital Expenditures	$859 million	Full Year

Logistics and distribution network maintenance costs. Maintaining a reliable, expansive network is a non-negotiable cost. McKesson Corporation announced in October 2025 the expansion of its healthcare logistics network, deploying new automated distribution centers. These facilities integrate AI and robotics for real-time inventory tracking and predictive demand planning, which represents a significant capital and operational outlay to ensure supply reliability for hospitals and clinics across the U.S.

Technology investment spend to modernize the enterprise. The company deploys a substantial $1.5 billion annual Research and Development (R&D) budget to develop advanced solutions. This investment is a cornerstone of the growth strategy, focused on increasing operational efficiency and supporting value-based care models. Key technology costs support platforms like HealthOS, which integrates real-time data from over 80% of U.S. pharmacies.

Interest expense, anticipated at $255 million to $265 million for FY2025. The cost of financing operations and acquisitions factors into the structure. The anticipated interest expense for fiscal year 2025 is projected to fall within the range of $255 million to $265 million. This figure is tracked separately as Adjusted Interest Expense in non-GAAP reporting, which excludes transaction-related adjustments like those from cross-currency swaps.

Key components driving the cost base include:

• High cost of product acquisition (COGS).
• Operating expenses supporting U.S. Pharmaceutical segment growth.
• Investments to support future growth in technology services.
• Capital deployment for logistics automation and AI integration.
• Corporate expenses, which were $134 million in Q3 2025.

Finance: draft the Q1 2026 cash flow projection incorporating the FY2025 interest expense run-rate by next Tuesday.

McKesson Corporation (MCK) - Canvas Business Model: Revenue Streams

You're looking at the core engine of McKesson Corporation's revenue generation as of late 2025. Honestly, it's a story dominated by volume and scale in the U.S. pharmaceutical space, but with clear, high-growth pockets you need to watch.

The overall picture for fiscal year 2025 shows consolidated revenues hitting approximately $359.05 B, a significant jump of 16.22% from the prior year, showing the sheer scale of their distribution network.

Here is the breakdown of the primary revenue streams based on the fiscal year 2025 results:

Revenue Stream Segment	FY2025 Revenue Amount	Percentage of Total Revenue (Approximate)
U.S. Pharmaceutical distribution sales	$327.72 B	91.28%
International pharmaceutical distribution revenue	$14.72 B	4.1%
Medical-Surgical product sales	$11.39 B	3.17%
Prescription Technology Solutions fees	$5.22 B	1.45%

The U.S. Pharmaceutical distribution segment remains the backbone, accounting for over 91% of the total. That $327.72 B figure represents a substantial 17.6% increase year-over-year, driven by increased prescription volumes from retail national customers.

Now, let's look closer at the growth drivers within these streams, especially where McKesson Corporation is focusing capital deployment. You see the clear emphasis on specialty care.

• Specialty drug distribution and related services: This is a high-growth area, with revenue growth in the U.S. Pharmaceutical segment specifically driven by higher volumes in specialty products, including oncology treatments.
• Prescription Technology Solutions (RxTS) fees: This segment generated $5.22 B in FY2025, showing a healthy growth rate of about 9.37% from the previous year.
• International distribution: Revenue reached $14.72 B, which was up about 4.18% from FY2024, despite currency headwinds.

The Medical-Surgical Solutions segment contributed $11.39 B to the top line. To be defintely clear, McKesson Corporation has signaled plans to spin off this Medical-Surgical Solutions unit, which accounted for about 3.2% of revenue in fiscal 2025, to concentrate capital on the core pharmaceutical and biopharma solutions businesses.

The revenue from Prescription Technology Solutions, at $5.22 B, is generated through fees associated with their technology offerings supporting pharmacies and providers. This stream is smaller but growing at a faster clip than the Medical-Surgical segment, which saw only a modest 0.65% revenue increase.

Finance: draft 13-week cash view by Friday.