Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  McKesson Corporation    MCK

MCKESSON CORPORATION

(MCK)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

McKesson : Board of Directors Releases Findings and Recommendations of Independent Investigation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2018 | 11:42am EST
  • Investigation was conducted by an independent committee of the Board, and supported by independent counsel
  • Committee makes recommendations to further strengthen the company's compliance framework

SAN FRANCISCO, April 20, 2018 - The Board of Directors of McKesson today released its response to a request from the International Brotherhood of Teamsters, a McKesson stockholder, that the Board perform an investigation into senior management's and the Board's oversight of McKesson's compliance with its legal and regulatory obligations relating to the distribution of opioids.

An independent investigation was performed by a Special Review Committee (SRC) of the Board composed of three independent directors: Donald R. Knauss (Chair), N. Anthony Coles, M.D., and Susan R. Salka. These three directors are the newest members of the McKesson Board, having joined in October 2014 (Knauss and Salka) and April 2014 (Coles). The SRC was assisted by the law firm Wilson Sonsini Goodrich & Rosati. As part of the investigation, the SRC reviewed extensive documentation and interviewed numerous current and former managers, employees, members of McKesson's Board, and other relevant parties.

The SRC's investigation found that senior management: (i) worked in earnest to meet the DEA's expectations for its Controlled Substances Monitoring Program (CSMP), and shared details of the program with the DEA at its inception; (ii) routinely worked closely with advisors and counsel on the Company's CSMP; and (iii) had oversight procedures in place for the CSMP and the company's distribution facilities. The SRC's investigation also found that the Board exercised appropriate oversight, reasonably relying on information from Internal Audit, members of senior management, and counsel. The SRC concluded that senior management and the Board acted in good faith to meet McKesson's obligations following the company's 2008 settlement with the Drug Enforcement Administration (DEA).

'The Board felt it was important to conduct an investigation in response to a shareholder request, mindful of the public health crisis that continues to afflict the country,' said Edward A. Mueller, Lead Independent Director of McKesson. 'The Board is grateful for the work of the Special Review Committee and unanimously agreed to adopt its recommendations. These recommendations include enhanced oversight procedures for the Board related to opioid distribution, the Controlled Substances Monitoring Program, and the pending lawsuits and investigations; and confirmation by the Compensation Committee that regulatory, compliance and legal issues have and will continue to be considered in determining executive compensation.'

'The company respects the Special Review Committee's findings and accepts their recommendations,' said McKesson's chairman and CEO John Hammergren. 'We take our role in helping protect the safety and integrity of the pharmaceutical supply chain very seriously. That's why we have taken significant action to strengthen our anti-diversion program and continually evaluate the program as diversion tactics change. ;We also recently announced a series of initiatives to help combat the opioid crisis, including the formation of a new foundation that will focus on increasing education and increasing access to life-saving treatments.'

To read the Board's response to the International Brotherhood of Teamsters and for more information about McKesson's ongoing efforts to address the opioid epidemic, please visit: www.McKesson.com/FightingOpioidAbuse.

About McKesson Corporation

McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a global leader in healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. McKesson partners with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare to help provide the right medicines, medical products and healthcare services to the right patients at the right time, safely and cost-effectively. United by our ICARE shared principles, our employees work every day to innovate and deliver opportunities that make our customers and partners more successful - all for the better health of patients. McKesson has been named the 'Most Admired Company ' in the healthcare wholesaler category by FORTUNE, a 'Best Place to Work' by the Human Rights Campaign Foundation, and a top military-friendly company by Military Friendly. For more information, visit www.mckesson.com.

PR Contact

Kristin Hunter Chasen
General and Business Media
415-983-8974
Kristin.Chasen@McKesson.com

Disclaimer

McKesson Corporation published this content on 20 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 April 2018 15:41:08 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MCKESSON CORPORATION
01/17MCKESSON : Designated as 2020 Qualified Clinical Data Registry by CMS
AQ
01/14MCKESSON : to Present at the 38th Annual J.P. Morgan Healthcare Conference Will ..
AQ
01/13Oklahoma State Sues Drug Distributors Over Alleged Role in Opioid Crisis
DJ
01/13MCKESSON : Raises FY20 Adjusted EPS Guidance
DJ
01/13MCKESSON CORP : Regulation FD Disclosure, Financial Statements and Exhibits (for..
AQ
01/13MCKESSON TO PRESENT AT THE 38TH ANNU : Will Provide Company Overview and Review ..
BU
01/06MCKESSON CORPORATION : to Announce Third Quarter Fiscal 2020 Results on February..
AQ
01/03MCKESSON CORPORATION : to Announce Third Quarter Fiscal 2020 Results on February..
BU
01/03MCKESSON : AdaptHealth Names Carson President of Patient Care Solutions
DJ
01/02Washington State Sues J&J Over Opioid Crisis -- Update
DJ
More news
Financials (USD)
Sales 2020 228 B
EBIT 2020 3 789 M
Net income 2020 855 M
Debt 2020 4 535 M
Yield 2020 1,04%
P/E ratio 2020 33,6x
P/E ratio 2021 12,5x
EV / Sales2020 0,14x
EV / Sales2021 0,13x
Capitalization 28 169 M
Chart MCKESSON CORPORATION
Duration : Period :
McKesson Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MCKESSON CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 158,75  $
Last Close Price 156,33  $
Spread / Highest target 11,9%
Spread / Average Target 1,55%
Spread / Lowest Target -10,4%
EPS Revisions
Managers
NameTitle
Brian Scott Tyler Chief Executive Officer & Director
Edward A. Mueller Chairman
Britt Vitalone Chief Financial Officer & Executive Vice President
M. Christine Jacobs Independent Director
Marie L. Knowles Independent Director
Sector and Competitors