McKesson Corporation
Company History
McKesson History: Founding, Growth & Key Milestones
Founded 1833 in New York City, United States
When was McKesson founded?
McKesson was founded in 1833 in New York City, United States by John McKesson and Charles Olcott, making it 193 years old.
- Founded
- 1833
- Founding place
- New York City, United States
- Founders
- John McKesson and Charles Olcott
- Headquarters today
- Irving, Texas, United States
- Milestones documented
- 7 (1833–2026)
- Current CEO
- Brian S. Tyler
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1833 | Olcott & McKesson is founded |
| 2017 | Change Healthcare joint venture begins trading |
| 2021 | National opioid settlement framework |
| 2025 | Oncology platform expands |
| 2025 | Medical-Surgical separation announced |
| 2026 | European exit completed |
| 2026 | Revenue reaches $403.4 billion |
- Where was McKesson founded?
- McKesson was founded in New York City, United States in 1833. wikidata.org
- Who founded McKesson?
- McKesson was founded by John McKesson and Charles Olcott.
- When did McKesson start?
- McKesson was founded in 1833.
- How old is McKesson?
- McKesson is 193 years old as of 2026.
Founding Story
In 1833 John McKesson and Charles Olcott opened Olcott & McKesson, a wholesale drug and chemical importer on Maiden Lane in New York City. After Daniel Robbins joined and Olcott died, the business became McKesson & Robbins in 1853. The firm grew by supplying druggists across the country and, in the 1920s and 1930s, by buying regional wholesalers to build a national distribution network.
Founders
John McKesson
John McKesson co-founded Olcott & McKesson in New York City in 1833 with Charles Olcott, importing and wholesaling drugs and chemicals. After Olcott's death and the arrival of partner Daniel Robbins, the firm became McKesson & Robbins in 1853, the name it carried into the 20th century. John McKesson was born in 1807.
Charles Olcott
Charles Olcott co-founded Olcott & McKesson in New York City in 1833 alongside John McKesson. Operating out of the financial district, they began as a massive importer and wholesaler of botanical drugs, spices, and therapeutic chemicals from Europe, fundamentally establishing the earliest supply chain for the modern American pharmaceutical industry. Charles M. Olcott was an American pharmacist. He died in 1853. (Exact birth year remains publicly undisclosed).
Key Milestones
Olcott & McKesson is founded
Charles Olcott and John McKesson established a New York wholesaler of therapeutic drugs and chemicals, creating the distribution foundation of today's McKesson.
Change Healthcare joint venture begins trading
McKesson combined most of its technology businesses with Change Healthcare. McKesson later completed its separation from Change Healthcare; it did not acquire the company in 2024.
National opioid settlement framework
McKesson, Cardinal Health, and AmerisourceBergen reached a nationwide settlement framework with states and local governments concerning opioid-distribution claims.
Oncology platform expands
McKesson completed investments in PRISM Vision and Core Ventures, expanding its provider footprint in ophthalmology, oncology, and multispecialty care.
Medical-Surgical separation announced
Management announced plans to separate Medical-Surgical Solutions so McKesson could focus capital on oncology, multispecialty, and biopharma services.
European exit completed
The sale of McKesson's Norwegian retail and distribution operations completed the company's exit from European operations.
Revenue reaches $403.4 billion
McKesson reported $403.4 billion of fiscal 2026 revenue, up 12%, with growth led by pharmaceutical distribution and oncology and multispecialty services.
Major Acquisitions
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McKesson Company History FAQ
What are the major historical milestones in McKesson's corporate evolution since 1833?
Key historical milestones include the founding of Olcott & McKesson in 1833, renaming to McKesson & Robbins in 1853, supplying Union troops in the Civil War, surviving the 1938 Musica accounting fraud, acquiring over 60 wholesalers in the 1920s, merging with Foremost Dairies in 1967, divesting non-pharma assets to refocus on healthcare in the 1980s, acquiring US Oncology in 2010, and distributing COVID-19 vaccines in 2020.
What was the Foremost-McKesson merger and why did the company later de-conglomerate?
In 1967, McKesson & Robbins merged with Foremost Dairies to form Foremost-McKesson Inc., creating a sprawling conglomerate spanning dairy products, liquor distribution, chemical manufacturing, and pharmaceuticals. During the 1980s, management divested dairy, liquor, and chemical assets to focus 100% of capital on healthcare distribution.
How did McKesson pioneer computerized barcoding and electronic ordering in the 1970s and 1980s?
McKesson pioneered digital warehouse management by introducing the 'Economost' electronic ordering system in the 1970s, placing handheld barcode scanners in retail pharmacies. This breakthrough enabled pharmacists to scan empty shelves and transmit overnight replenishment orders electronically, transforming retail inventory turnover.
How did McKesson survive the catastrophic 1999 HBOC merger crisis?
Following the revelation of HBOC's accounting fraud in 1999, the board fired HBOC executives, restated three years of financial statements, and appointed John Hammergren as CEO in 2001. Hammergren restored customer and investor confidence, instituted strict auditing controls, and returned McKesson to disciplined profitable growth.
When and why did McKesson relocate its headquarters from San Francisco to Irving, Texas?
In December 2018, McKesson announced the relocation of its corporate headquarters from San Francisco (where it had been based since 1969) to Irving, Texas, completing the move in April 2019. The move centralized executive operations with major operations hubs and provided a favorable business climate.
How did McKesson contribute to the historic response to the COVID-19 pandemic in 2020 to 2021?
Under contract with the CDC and the US Department of Health and Human Services, McKesson built specialized high-throughput packing facilities to assemble over 100 million ancillary supply kits (syringes, needles, alcohol prep pads) and distributed hundreds of millions of vaccine doses across the country with flawless cold-chain security.
What led to the historic 2022 nationwide opioid settlement and what compliance reforms followed?
Following extensive state and federal lawsuits alleging inadequate suspicious order monitoring of prescription opioid painkillers in the 2000s and 2010s, McKesson agreed to a $7.4 billion 18-year settlement in 2022 and instituted an independent compliance monitor, advanced data algorithms, and strict anti-diversion oversight protocols.
How has McKesson transitioned from a traditional wholesale distributor into an advanced oncology and health tech company?
Over the past two decades, McKesson deliberately shifted its profit mix from low-margin bulk pill shipping to high-value oncology practice management, clinical trial recruitment, automated biopharma prior authorization software (CoverMyMeds), and real-world cancer data science (Ontada).
How did McKesson start?
McKesson was founded in 1833 in New York City by John McKesson and Charles Olcott (originally named Olcott & McKesson). Long before the invention of modern synthetic pharmaceuticals, they operated a massive import business, bringing therapeutic botanical drugs, spices, and chemicals from Europe and Asia via clipper ships to supply American apothecaries.
Related Strategic History
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