McKesson Corporation: Key Takes from the C-Suite - Another Year of Growth Ahead

研报英文原文证据摘录

McKesson Corporation: Key Takes from the C-Suite - Another Year of Growth Ahead

IdeaMdiscussions and the strength of its relationships limit renegotiation risk heading into

2027–2028. Regarding Part B and IRA/GLOBE policies, MCK does not believe these

are intended to reduce reimbursement to providers, consistent with its past

commentary, and noted that the GLOBE model does not impact provider

reimbursement flows.

Oncology and Multispecailty Accelerating: Oncology and Multispecialty posted

+13% organic AOI growth in F4Q, with FCS/PRISM contributing ~40% to growth.

MCK is lapping the PRISM acquisition in April 2026 and FCS in June 2026. Even so, it

expects FY27 to reflect continued growth in providers and the community oncology

setting to remain the low cost, high quality point of care. The US Oncology Network

added 570 providers in FY26, the most since FY10, and it expanded its footprint by

adding Cancer Care Northwest with clinic locations across WA and ID. Ontada,

launched in 2020 and built on the iKnowMed EMR, connects community providers

with data-driven tools that improve efficiency, patient management, and

personalized care while helping biopharma companies better understand real‑world

drug use and support discovery and launches. Alongside Sarah Cannon Research

Institute's (SCRI) continued patient accrual into clinical trials, both platforms

strengthen relationships and credibility with providers and biopharma partners.

MCK's broader Specialty strategy focuses on adjacencies where it can add scale,

best practices, and value—particularly around innovative drugs and biosimilars—

while supporting local practices. This led to the expansion into ophthalmology/

retina and would be how MCK judges expanding into other areas.