McKesson (MCK) Leerink Global Healthcare Conference 2026 summary

Leadership transition and organizational achievements

• CFO Britt Vitalone announced his retirement, reflecting on eight years of consistent performance and strong financial organization.

• Emphasized building a differentiated asset portfolio and smarter capital allocation, positioning the business for continued execution.

• Leadership for the MedSurg business is in place, with ongoing preparations for its separation, including capital structure and operational improvements.

Specialty and core business growth

• Specialty revenues reached $180 billion in FY 2025, with high growth in oncology and multi-specialty segments, serving over 14,000 providers.

• Specialty revenues in complex areas grew at an 18% CAGR over five years, driven by scaled networks and provider-led platforms.

• Integration of recent MSO acquisitions is progressing well, with performance at or ahead of guidance and ongoing expansion of clinical capabilities.

Technology and innovation

• CoverMyMeds expanded to cover both pharmacy and medical benefit drugs, with GLP-1 prior authorizations accounting for 11% of segment revenue.

• AI is being implemented across platforms, including chatbots in CoverMyMeds and efficiency improvements in call centers, increasing employee productivity.

• Ontada serves as a central platform for oncology, enriching clinical data and supporting partnerships with manufacturers and clinical research.