McKesson Corporation (MCK): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário intrincado da distribuição e tecnologia da saúde, a McKesson Corporation permanece como uma potência transformadora, tecendo a logística farmacêutica, soluções tecnológicas avançadas e inovações estratégicas de saúde. Com um modelo de negócios que abrange cadeias de suprimentos complexas e plataformas digitais de ponta, McKesson se posicionou como um nexo crítico que conecta fabricantes, profissionais de saúde e sistemas de tecnologia. Esta tela abrangente de modelo de negócios revela a arquitetura estratégica que permite que McKesson entregue US $ 276 bilhões na receita anual, revolucionando como os produtos, informações e serviços médicos fluem através do ecossistema de saúde.

McKesson Corporation (MCK) - Modelo de negócios: Parcerias -chave

Fabricantes farmacêuticos e fornecedores de drogas

McKesson colabora com mais de 3.000 fabricantes farmacêuticos. As principais parcerias incluem:

Fabricante	Detalhes da parceria	Volume anual
Pfizer	Distribuição farmacêutica	US $ 12,5 bilhões
Johnson & Johnson	Gerenciamento abrangente da cadeia de suprimentos	US $ 8,7 bilhões
Merck	Distribuição de medicamentos em todo o país	US $ 7,3 bilhões

Provedores de saúde e hospitais

McKesson atende a aproximadamente 25.000 sistemas hospitalares e instalações de saúde.

• 90% dos hospitais dos EUA são clientes da McKesson
• Cobertura de parceria em 50 estados
• Valor anual do contrato do provedor de saúde: US $ 45,6 bilhões

Empresas de tecnologia e software

As parcerias de tecnologia estratégica incluem:

Parceiro de tecnologia	Foco em tecnologia	Investimento anual
Microsoft	Infraestrutura em nuvem	US $ 37 milhões
SEIVA	Enterprise Software Solutions	US $ 28 milhões
IBM	AI e análise	US $ 22 milhões

Empresas de gerenciamento de benefícios de farmácia

McKesson colabora com os principais gerentes de benefícios de farmácia:

• CVS Caremark: US $ 15,2 bilhões contrato
• Scripts expressos: parceria de US $ 12,7 bilhões
• Optumrx: contrato de colaboração de US $ 9,5 bilhões

Equipamentos médicos e fornecedores de suprimentos

Parcerias de fornecedores nos setores de equipamentos médicos:

Fornecedor	Categoria de equipamento	Volume anual de oferta
Medtronic	Dispositivos médicos	US $ 6,8 bilhões
Stryker	Equipamento cirúrgico	US $ 4,5 bilhões
GE Healthcare	Tecnologias de diagnóstico	US $ 5,2 bilhões

McKesson Corporation (MCK) - Modelo de negócios: Atividades -chave

Distribuição farmacêutica e logística

McKesson distribui aproximadamente 20% de todos os produtos farmacêuticos nos Estados Unidos, com receita anual de distribuição farmacêutica de US $ 276,7 bilhões em 2023. A Companhia opera 31 centros de distribuição na América do Norte e atende a mais de 200.000 locais de saúde.

Métrica de distribuição	2023 dados
Centros de distribuição total	31
Receita anual de distribuição	US $ 276,7 bilhões
Locais de saúde servidos	200,000+

Desenvolvimento de Soluções de Tecnologia da Saúde

McKesson investe US $ 1,2 bilhão anualmente em pesquisa e desenvolvimento de tecnologia, com foco em plataformas de software de assistência médica.

• Sistemas de registro eletrônico de saúde (EHR)
• Software de gerenciamento de prática
• Soluções de gerenciamento do ciclo de receita
• Tecnologias de gerenciamento de farmácias

Gerenciamento da cadeia de suprimentos médicos

A McKesson gerencia as cadeias de suprimentos para mais de 50.000 fabricantes de produtos farmacêuticos e médicos, com um processamento de rede de logística global de 1,5 bilhão de pacotes anualmente.

Métrica da cadeia de suprimentos	2023 dados
Fabricantes gerenciados	50,000+
Pacotes anuais processados	1,5 bilhão

Otimização de inventário farmacêutico

As tecnologias de gerenciamento de inventário da McKesson suportam o rastreamento em tempo real da precisão de 99,8% do inventário nas redes de assistência médica.

Software de saúde e serviços de análise de dados

McKesson processa mais de 3,5 bilhões de transações de saúde anualmente por meio de suas plataformas de análise de dados, com US $ 4,7 bilhões dedicados ao segmento de serviços de tecnologia.

• Soluções de análise preditiva
• Gestão da saúde da população
• Sistemas de suporte à decisão clínica
• Tecnologias de rastreamento farmacêutico

McKesson Corporation (MCK) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de rede de distribuição

McKesson opera 30 centros de distribuição nos Estados Unidos, cobrindo aproximadamente 10,4 milhões de pés quadrados de espaço para armazém. A empresa gerencia mais de 300.000 produtos farmacêuticos e médicos exclusivos.

Infraestrutura de distribuição	Métricas
Centros de distribuição total	30
Espaço de armazém	10,4 milhões de pés quadrados.
Skus de produto exclusivo	300,000+

Plataformas avançadas de tecnologia de saúde

As plataformas de tecnologia de McKesson incluem:

• McKesson Pharmacy Systems
• Plataforma de conectividade eletrônica de relayHealth
• Software de gerenciamento da Enterpriserx

Profissionais de produtos farmacêuticos e de saúde qualificados

McKesson emprega 48.500 profissionais a partir do ano fiscal de 2023, com uma força de trabalho especializada em distribuição farmacêutica, tecnologia de saúde e soluções médicas-cirúrgicas.

Recursos de armazenamento estratégico e logística

Capacidade de logística	Métricas de desempenho
Realização diária de pedidos	95,7% entrega no mesmo dia/dia seguinte
Distribuição anual do produto	US $ 276,7 bilhões em produtos médicos

Robusta Analytics de dados e sistemas de informação

As plataformas de análise de dados da McKesson processa mais de 3,5 bilhões de transações de saúde anualmente, alavancando as tecnologias avançadas de análise preditiva e aprendizado de máquina.

• Rastreamento de inventário em tempo real
• Previsão de demanda preditiva
• Algoritmos de otimização da cadeia de suprimentos

McKesson Corporation (MCK) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes da cadeia de suprimentos farmacêuticos

A McKesson Corporation distribui aproximadamente 20% de todos os produtos farmacêuticos nos Estados Unidos, representando US $ 238,2 bilhões em receita de distribuição farmacêutica para o ano fiscal de 2023.

Métrica da cadeia de suprimentos	Valor
Volume total de distribuição farmacêutica	20% do mercado dos EUA
Receita anual de distribuição farmacêutica	US $ 238,2 bilhões
Número de clientes de prestadores de serviços de saúde	Mais de 67.000

Integração de tecnologia de saúde econômica

McKesson investe US $ 1,2 bilhão anualmente em pesquisa e desenvolvimento de tecnologia, com foco em sistemas de informações sobre assistência médica e soluções digitais.

• Soluções de integração de registro eletrônico de saúde (EHR)
• Plataformas de software de gerenciamento de farmácias
• Tecnologias de gerenciamento do ciclo de receita

Distribuição eficiente de produtos médicos

McKesson opera 30 centros de distribuição na América do Norte, lidando com mais de 130.000 produtos médicos e cirúrgicos diariamente.

Métrica de rede de distribuição	Valor
Centros de distribuição	30
Capacidade diária de manuseio de produtos	130.000 produtos
Cobertura geográfica	América do Norte

Serviços avançados de gerenciamento de inventário

McKesson fornece rastreamento de inventário em tempo real para 99,7% das transações de fornecimento farmacêutico e médico, reduzindo o desperdício e otimizando a eficiência da cadeia de suprimentos.

• Reabastecimento de inventário automatizado
• Previsão de demanda preditiva
• Sistemas de entrega just-in-time

Plataformas de informação de saúde e tecnologia simplificados

A McKesson's Technology Solutions atende mais de 50% dos hospitais nos Estados Unidos, com plataformas de software gerando US $ 4,3 bilhões em receita anual de tecnologia.

Métrica da plataforma de tecnologia	Valor
Penetração no mercado hospitalar	50%
Receita anual de tecnologia	US $ 4,3 bilhões
Soluções de software de prestador de serviços de saúde	Múltiplas plataformas integradas

McKesson Corporation (MCK) - Modelo de Negócios: Relacionamentos do Cliente

Parcerias contratuais de longo prazo

McKesson mantém mais de 180 contratos de distribuição farmacêutica de longo prazo com sistemas de saúde, hospitais e farmácias. A duração média do contrato é de 7,2 anos. O valor total do contrato em 2023 atingiu US $ 68,4 bilhões.

Tipo de contrato	Número de contratos	Valor anual
Sistemas hospitalares	87	US $ 24,6 bilhões
Redes de farmácias de varejo	63	US $ 29,8 bilhões
Provedores de assistência médica especializados	30	US $ 14 bilhões

Gerenciamento de conta dedicado

A McKesson emprega 672 gerentes de conta dedicados que atendem aos clientes de assistência médica em nível corporativo. O gerente médio de contas lida com US $ 102 milhões em receita anual de clientes.

Serviços de suporte e consultoria de tecnologia

• Plataformas de tecnologia que atendem mais de 60.000 instalações de saúde
• US $ 412 milhões investidos em soluções de saúde digital em 2023
• Infraestrutura de suporte técnico 24/7

Soluções de saúde personalizadas

Categoria de solução	Segmentos de clientes	Receita anual
Distribuição farmacêutica	Hospitais, farmácias	US $ 54,3 bilhões
Fornecimento médico-cirúrgico	Clínicas, centros ambulatoriais	US $ 12,7 bilhões
Soluções de oncologia	Centros de Tratamento do Câncer	US $ 3,9 bilhões

Plataforma digital e sistemas de suporte on -line

As plataformas digitais de McKesson processam 98,4 milhões de transações mensalmente. O Portal Online atende a 42.000 clientes de saúde com recursos de gerenciamento e pedidos de inventário em tempo real.

• 99,7% de tempo de atividade da plataforma digital
• US $ 276 milhões para investimento anual em infraestrutura digital
• Aplicativo móvel que suporta 18.500 locais de farmácia

McKesson Corporation (MCK) - Modelo de Negócios: Canais

Força de vendas direta

McKesson emprega uma força de vendas dedicada de mais de 8.500 profissionais de saúde em vários segmentos a partir de 2024.

Canal de vendas	Número de representantes	Foco primário
Distribuição farmacêutica	3,750	Atacado farmacêutico
Vendas médicas-cirúrgicas	2,900	Equipamento de prestador de serviços de saúde
Soluções de tecnologia	1,850	Serviços de TI de saúde

Plataformas digitais online

A McKesson opera várias plataformas digitais com a taxa de engajamento digital de 92% do provedor de saúde.

• McKesson.com B2B Portal
• RelayHealth Digital Marketplace
• Plataforma de pedidos do OneStop
• Aplicativos de compras móveis

Conferências do setor de saúde

McKesson participa de 47 principais conferências de assistência médica anualmente com o envolvimento direto de mais de 12.500 profissionais do setor.

Tipo de conferência	Participação anual	Público -alvo
Tecnologia de saúde	18	Executivos de TI
Farmacêutico	15	Gerentes de farmácia
Fornecimento médico	14	Compras hospitalares

Serviços de integração de tecnologia

A McKesson fornece serviços de integração de tecnologia para 85% dos hospitais dos EUA e mais de 60.000 farmácias.

• Integração eletrônica de registro de saúde
• Sistemas de gerenciamento da cadeia de suprimentos
• Software de gerenciamento de farmácia
• Soluções do ciclo de receita

Redes de parceria estratégica

McKesson mantém parcerias estratégicas com mais de 300 fabricantes de serviços de saúde e mais de 200 fornecedores de tecnologia.

Categoria de parceria	Número de parceiros	Valor anual de colaboração
Fabricantes farmacêuticos	180	US $ 47,3 bilhões
Empresas de dispositivos médicos	75	US $ 22,6 bilhões
Fornecedores de tecnologia	45	US $ 8,9 bilhões

McKesson Corporation (MCK) - Modelo de negócios: segmentos de clientes

Farmácias e farmácias de varejo

McKesson atende a aproximadamente 40.000 farmácias de varejo nos Estados Unidos. Os principais clientes incluem:

Cadeia de farmácias	Número de lojas	Quota de mercado
CVS Pharmacy	9.900 lojas	25.3%
Walgreens	9.021 lojas	22.7%
Walmart Pharmacy	5.100 lojas	12.8%

Hospitais e sistemas de saúde

A McKesson fornece mais de 3.500 hospitais e 15.000 instalações de saúde não agudas em todo o país.

• As principais redes hospitalares atendidas incluem HCA Healthcare, Mayo Clinic e Kaiser Permanente
• Aproximadamente 80% dos hospitais dos EUA usam produtos médicos-cirúrgicos da McKesson

Práticas médicas

McKesson suporta mais de 125.000 práticas médicas em várias especialidades.

Especialidade	Número de práticas
Cuidados primários	47,500
Oncologia	22,000
Práticas cirúrgicas	18,500

Fabricantes farmacêuticos

McKesson distribui produtos para mais de 500 fabricantes farmacêuticos.

• Os principais fabricantes incluem Pfizer, Johnson & Johnson e Merck
• Lida com aproximadamente US $ 270 bilhões em distribuição farmacêutica anualmente

Organizações de saúde do governo

McKesson serve vários segmentos de saúde do governo:

Segmento do governo	Valor anual do contrato
Sistema de Saúde VA	US $ 3,2 bilhões
Departamento de Defesa	US $ 1,8 bilhão
Programas estaduais do Medicaid	US $ 4,5 bilhões

McKesson Corporation (MCK) - Modelo de Negócios: Estrutura de Custo

Compras de inventário farmacêutico

Os custos de compras de inventário farmacêutico da McKesson em 2023 totalizaram US $ 238,4 bilhões. As despesas de aquisição de inventário da empresa se separam da seguinte forma:

Categoria de compras	Custo anual
Farmacêuticos de marca	US $ 142,6 bilhões
Medicamentos genéricos	US $ 65,3 bilhões
Suprimentos médicos	US $ 30,5 bilhões

Manutenção de infraestrutura de tecnologia

Os custos de manutenção de infraestrutura tecnológica para McKesson em 2023 foram de US $ 1,2 bilhão, com a seguinte quebra:

• Infraestrutura de computação em nuvem: US $ 412 milhões
• Sistemas de segurança cibernética: US $ 287 milhões
• Manutenção do software corporativo: US $ 341 milhões
• Atualizações de hardware: US $ 160 milhões

Despesas de distribuição e logística

Os custos de distribuição e logística para McKesson em 2023 totalizaram US $ 7,6 bilhões, incluindo:

Categoria de despesa de logística	Custo anual
Transporte	US $ 3,2 bilhões
Operações de armazém	US $ 2,1 bilhões
Manutenção da frota	US $ 1,3 bilhão
Embalagem e manuseio	US $ 1 bilhão

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários de McKesson em 2023 foram de US $ 4,8 bilhões:

• Salários base: US $ 3,1 bilhões
• Benefícios e assistência médica: US $ 812 milhões
• Bônus de desempenho: US $ 456 milhões
• Treinamento e desenvolvimento: US $ 432 milhões

Investimentos de pesquisa e desenvolvimento

Os investimentos em P&D para McKesson em 2023 totalizaram US $ 345 milhões, focados em:

• Soluções de tecnologia de saúde: US $ 187 milhões
• Tecnologia de distribuição farmacêutica: US $ 98 milhões
• Plataformas de análise de dados: US $ 60 milhões

McKesson Corporation (MCK) - Modelo de negócios: fluxos de receita

Taxas de distribuição farmacêutica

No ano fiscal de 2023, a receita de distribuição farmacêutica de McKesson foi de US $ 276,8 bilhões. As taxas de distribuição representaram aproximadamente 3-5% da receita total de distribuição farmacêutica.

Fonte de receita	Valor anual	Porcentagem da receita total
Distribuição farmacêutica	US $ 276,8 bilhões	75.2%
Taxas de serviço de distribuição	US $ 8,3 bilhões	3-5%

Contratos de Serviço de Tecnologia da Saúde

Os serviços de tecnologia de saúde da McKesson geraram US $ 2,4 bilhões em receita para o ano fiscal de 2023.

• Soluções de registro eletrônico de saúde (EHR)
• Software de gerenciamento de prática
• Serviços de gerenciamento de ciclo de receita

Gerenciamento da cadeia de suprimentos médicos

Os serviços de gerenciamento da cadeia de suprimentos médicos contribuíram com US $ 5,6 bilhões para a receita total de McKesson em 2023.

Serviço da cadeia de suprimentos	Receita anual
Gerenciamento de inventário	US $ 1,9 bilhão
Serviços de logística	US $ 2,1 bilhões
Soluções de compras	US $ 1,6 bilhão

Licenciamento de análise de software e dados

O licenciamento de software e análise de dados da McKesson gerou US $ 1,2 bilhão no ano fiscal de 2023.

• Sistemas de Gerenciamento de Farmácia
• Plataformas de análise de saúde
• Ferramentas de suporte à decisão clínica

Serviços de consultoria e integração

Os serviços de consultoria e integração representaram US $ 750 milhões em receita para 2023.

Serviço de consultoria	Receita anual
Consultoria em tecnologia da saúde	US $ 350 milhões
Integração do sistema	US $ 400 milhões

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.