{"slug":"mckesson","name":"맥케슨","name_en":"McKesson Corporation","ticker":"MCK","updated_at":"2026-09-23T09:58:33.590806+00:00","canonical":"https://valuechain.wiki/mckesson","citable":"밸류체인 그래프 기준 맥케슨의 직접 연결 기업은 13곳(관계 기준 공급 11·매출 2)이고, 사슬을 2차까지 넓히면 34곳에 닿는다. 링크의 근거 출처는 20건이며 그중 1차공시가 12건이다 (valuechain.wiki, 2026-09-23 기준).","citable_en":"Per the valuechain.wiki graph, McKesson Corporation is directly linked to 13 companies (11 supply, 2 revenue relationships) and reaches 34 companies within two hops; the links are backed by 20 dated sources, 12 of them primary filings (as of 2026-09-23).","kicker":"의약품 유통·특수진료","kicker_en":"Drug distribution and specialty care","lead":"맥케슨은 제약사에서 의약품과 의료 제품을 조달해 대형 약국 체인, 병원, 지역 약국과 진료기관에 유통한다. 매출은 북미 의약품 유통에 크게 집중돼 있으며, 제약사에 지급하는 재고 매입비가 핵심 비용이다. 최근에는 종양학과 안과 진료 지원 조직의 지배 지분을 인수해 특수진료 서비스를 넓히고 있다.","lead_en":"McKesson sources pharmaceuticals and medical products from manufacturers and distributes them to large pharmacy chains, hospitals, community pharmacies, and care providers. Revenue is concentrated in North American pharmaceutical distribution, while inventory purchases from drugmakers are its core cost. It has also expanded specialty-care services by acquiring controlling interests in oncology and ophthalmology organizations.","categories":[{"key":"pharma-distribution","ko":"의약품 유통","en":"Pharmaceutical Distribution","theme":"life-sciences","theme_ko":"바이오·헬스","theme_en":"Biopharma & Life Sciences","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"북미 의약품","note":"브랜드·제네릭·특수·바이오시밀러·일반의약품의 유통과 물류"},{"name":"종양학·다전문 진료","note":"특수의약품 유통, 공동구매, 주입·약국·진료 지원 서비스"},{"name":"처방전 기술 솔루션","note":"환자 접근성, 사전승인, 가격 투명성 및 바이오파마 지원 기술"},{"name":"의료·수술 솔루션","note":"진료소와 의료기관용 의료·수술 제품과 공급망 서비스"}],"total":"FY2026 총매출 4,034억3,000만달러","track":"C"},"segments_en":{"parts":[{"name":"North American Pharmaceutical","note":"Distribution and logistics for branded, generic, specialty, biosimilar, and over-the-counter drugs"},{"name":"Oncology & Multispecialty","note":"Specialty distribution, group purchasing, infusion, pharmacy, and practice-support services"},{"name":"Prescription Technology Solutions","note":"Patient access, prior authorization, price transparency, and biopharma support technology"},{"name":"Medical-Surgical Solutions","note":"Medical-surgical products and supply-chain services for care sites"}],"total":"FY2026 total revenue of $403.43 billion"},"returns_yearly":{"2021":44.2,"2022":51.8,"2023":24.1,"2024":23.7,"2025":44.5,"2026":14.8},"return_asof":"2026-10-09","value_chain":{"leading":[{"slug":"unitedhealth-group","name":"유나이티드헬스 그룹","name_en":"UnitedHealth Group Incorporated","tier":2,"returns_yearly":{"2021":45.2,"2022":6.9,"2023":0.8,"2024":-2.4,"2025":-33.1,"2026":21.9}},{"slug":"elevance-health","name":"엘레반스 헬스","name_en":"Elevance Health, Inc.","tier":2,"returns_yearly":{"2021":46.1,"2022":11.8,"2023":-6.9,"2024":-20.7,"2025":-3.1,"2026":17.4}},{"slug":"cvs-health","name":"CVS 헬스","name_en":"CVS Health","tier":1,"returns_yearly":{"2021":54.9,"2022":-7.6,"2023":-12.5,"2024":-40.8,"2025":84.3,"2026":24.7}},{"slug":"walmart","name":"Walmart Inc","name_en":"Walmart Inc","tier":1,"returns_yearly":{"2021":2,"2022":-0.5,"2023":12.9,"2024":74,"2025":24.5,"2026":0.6}}],"benefiting":[{"slug":"merck-co","name":"머크 (미국 MSD)","name_en":"Merck & Co.","tier":1,"returns_yearly":{"2021":1.8,"2022":49.4,"2023":1,"2024":-6.3,"2025":9.8,"2026":44.9}},{"slug":"amgen","name":"암젠","name_en":"Amgen","tier":1,"returns_yearly":{"2021":0.9,"2022":20.4,"2023":13.5,"2024":-6.8,"2025":29.7,"2026":36.3}},{"slug":"johnson-johnson","name":"존슨앤드존슨","name_en":"Johnson & Johnson","tier":1,"returns_yearly":{"2021":11.4,"2022":6,"2023":-8.6,"2024":-4.8,"2025":47.5,"2026":35.1}},{"slug":"biogen","name":"바이오젠","name_en":"Biogen Inc.","tier":1,"returns_yearly":{"2021":-2,"2022":15.4,"2023":-6.6,"2024":-40.9,"2025":15.1,"2026":28.3}},{"slug":"dexcom","name":"덱스콤","name_en":"Dexcom","tier":1,"returns_yearly":{"2021":45.2,"2022":-15.6,"2023":9.6,"2024":-37.3,"2025":-14.7,"2026":26.7}},{"slug":"gilead-sciences","name":"길리어드 사이언스","name_en":"Gilead Sciences, 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(Eli)","tier":1,"returns_yearly":{"2021":66.1,"2022":34.3,"2023":60.9,"2024":33.3,"2025":40.2,"2026":10.3}},{"slug":"moderna","name":"모더나","name_en":"Moderna","tier":2,"returns_yearly":{"2021":143.1,"2022":-29.3,"2023":-44.6,"2024":-58.2,"2025":-29.1,"2026":393.6}},{"slug":"abcellera","name":"AbCellera","name_en":"AbCellera Biologics","tier":2,"returns_yearly":{"2022":-29.2,"2023":-43.6,"2024":-48.7,"2025":16.7,"2026":234.2}},{"slug":"jabil","name":"자빌","name_en":"Jabil","tier":2,"returns_yearly":{"2021":66.4,"2022":-2.5,"2023":87.4,"2024":13.3,"2025":58.7,"2026":36.3}},{"slug":"west-pharmaceutical-services","name":"웨스트 파마슈티컬 서비스","name_en":"West Pharmaceutical Services","tier":2,"returns_yearly":{"2021":65.9,"2022":-49.7,"2023":50,"2024":-6.8,"2025":-15.7,"2026":23.8}},{"slug":"veeva-systems","name":"비바 시스템스","name_en":"Veeva Systems","tier":2,"returns_yearly":{"2021":-6.2,"2022":-36.8,"2023":19.3,"2024":9.2,"2025":6.2,"2026":23.2}},{"slug":"incyte","name":"인사이트","name_en":"Incyte 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Corporation","tier":3,"returns_yearly":{"2021":31,"2022":-13.8,"2023":3.5,"2024":30.2,"2025":35.5,"2026":38.8}},{"slug":"exxonmobil","name":"엑슨모빌","name_en":"ExxonMobil","tier":3,"returns_yearly":{"2021":57.6,"2022":87.4,"2023":-6.3,"2024":11.3,"2025":16,"2026":35.2}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":23.2}},{"slug":"bristol-myers-squibb","name":"브리스톨 마이어스 스퀴브","name_en":"Bristol-Myers Squibb Company","tier":3,"returns_yearly":{"2021":2.9,"2022":19,"2023":-26.1,"2024":15.8,"2025":0.1,"2026":14.5}},{"slug":"thermo-fisher-scientific","name":"써모 피셔 사이언티픽","name_en":"Thermo Fisher Scientific","tier":3,"returns_yearly":{"2021":43.5,"2022":-17.3,"2023":-3.4,"2024":-1.7,"2025":11.8,"2026":13.9}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":3,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":12}},{"slug":"orion","name":"오리온","name_en":"Orion","tier":3,"returns_yearly":{"2021":-18.4,"2022":29,"2023":-25.5,"2024":10.6,"2025":18.7,"2026":11.9}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":4}},{"slug":"blackrock","name":"BlackRock","name_en":"BlackRock","tier":3,"returns_yearly":{"2021":29.4,"2022":-20.4,"2023":17.9,"2024":29.3,"2025":6.6,"2026":2.8}},{"slug":"danaher","name":"다나허","name_en":"Danaher Corporation","tier":3,"returns_yearly":{"2021":48.6,"2022":-19,"2023":-1.2,"2024":-0.3,"2025":0.4,"2026":-3.4}},{"slug":"workday","name":"워크데이","name_en":"Workday, Inc.","tier":3,"returns_yearly":{"2021":14,"2022":-38.7,"2023":65,"2024":-6.5,"2025":-16.8,"2026":-8.8}},{"slug":"alteogen","name":"알테오젠","name_en":"ALTEOGEN","tier":3,"returns_yearly":{"2021":-45.9,"2022":-8.3,"2023":110.6,"2024":380.6,"2025":11.3,"2026":-9.2}},{"slug":"salesforce","name":"세일즈포스","name_en":"Salesforce, Inc.","tier":3,"returns_yearly":{"2021":14.2,"2022":-47.8,"2023":98.5,"2024":27.8,"2025":-20.2,"2026":-12.9}},{"slug":"blackstone","name":"Blackstone","name_en":"Blackstone","tier":3,"returns_yearly":{"2021":107.1,"2022":-40,"2023":82.7,"2024":35.1,"2025":-7.8,"2026":-23.5}},{"slug":"oscotec","name":"오스코텍","name_en":"Oscotec","tier":3,"returns_yearly":{"2021":-17,"2022":-38.1,"2023":-0.3,"2024":39.8,"2025":108.2,"2026":-32.2}}],"analysis":"의약품 유통·특수진료 기업. 최근 몇 년간 견조한 상승이 이어졌고 2026년 +11%다. 공급단(평균 +33.4%)이 본주(+11%)보다 세게 움직였다. 공급 병목 국면의 전형으로, 본주 마진보다 공급사 물량 레버리지가 먼저 반영되고 있다는 신호다. 연결 노드 중 가장 앞선 곳은 머크 (미국 MSD)(+44.9%), 가장 처진 곳은 월마트(-3.2%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"McKesson Corporation operates across Drug distribution and specialty care. It stayed steadily positive in recent years and is +11% in 2026. The supply side (avg +33.4%) has moved harder than the stock (+11%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Merck & Co. (+44.9%) and the furthest behind is Walmart Inc (-3.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It has also expanded specialty-care services by acquiring controlling interests in oncology and ophthalmology organizations.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"Core Ventures","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-08-06","basis":"Core Ventures 지배 지분 70% 현금 인수 대금","value":2500000000,"period":"acquisition completed 2025-06-02","basis_en":"Cash consideration for a 70% controlling interest in Core Ventures","qualifier":null},"note":"맥케슨은 2025년 6월 Core Ventures의 지배 지분 70%를 현금 25억달러에 인수했다. 이 조직은 플로리다 암 전문의 그룹의 경영·행정 서비스를 지원하며 맥케슨의 종양학 플랫폼에 편입됐다.","note_en":"McKesson acquired a 70% controlling interest in Core Ventures for $2.5 billion in cash in June 2025. The organization supports the business and administrative operations of a Florida oncology practice and joined McKesson's oncology platform.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-08-06","url":"https://www.sec.gov/Archives/edgar/data/927653/000092765325000107/mck-20250630.htm","title":"MCKESSON CORP 10-Q (2025-08-06)","title_en":"MCKESSON CORP 10-Q (2025-08-06)","excerpt":"맥케슨은 Core Ventures의 지배 지분 70%를 현금 25억달러에 인수했다.","excerpt_en":"The Company acquired a 70% controlling interest for $2.5 billion in cash."}]},{"direction":"cost","counterparty":"화이자","counterparty_slug":"pfizer","confidence":"high","metric":{"type":"revenue_share","unit":"percent","as_of":"2026-02-26","basis":"화이자 2025년 총매출 중 맥케슨 고객 매출 비중","value":25,"period":"FY2025","basis_en":"Share of Pfizer 2025 total revenue generated from McKesson as a wholesaler customer","qualifier":null},"note":"맥케슨은 화이자의 미국 도매 고객으로 의약품을 매입한다. 화이자의 역방향 공시에 따르면 2025년 화이자 총매출의 25%가 맥케슨에서 발생했으며, 이는 맥케슨 비용 중 비중이 아니라 화이자 매출 기준이다.","note_en":"McKesson purchases pharmaceuticals as one of Pfizer's U.S. wholesaler customers. Pfizer's reverse disclosure shows that McKesson generated 25% of Pfizer's 2025 total revenue; this is not McKesson's supplier-spend share.","sources":[{"stance":"confirms","publisher":"화이자","publisher_en":"Pfizer Inc.","kind":"filing","lang":"en","published_at":"2026-02-26","url":"https://s206.q4cdn.com/795948973/files/doc_financials/2025/q4/2025-Form-10-K.pdf","title":"화이자 2025 Form 10-K","title_en":"Pfizer Inc. 2025 Form 10-K","excerpt":"화이자는 2025년 총매출의 25%가 미국 도매 고객 맥케슨에서 발생했다고 공시했다.","excerpt_en":"McKesson, Inc. 25%."}]},{"direction":"revenue","counterparty":"CVS 헬스","counterparty_slug":"cvs-health","confidence":"high","metric":{"type":"revenue_share","unit":"percent","as_of":"2026-05-08","basis":"맥케슨 FY2026 연결 매출 중 CVS 헬스 비중","value":24,"period":"FY2026","basis_en":"CVS Health share of McKesson FY2026 consolidated revenue","qualifier":null},"note":"CVS 헬스는 맥케슨의 최대 고객이다. 2026회계연도에 CVS 매출은 연결 매출의 약 24%였고, 의약품 유통 계약은 2027년 6월까지 이어진다.","note_en":"CVS Health is McKesson's largest customer. CVS represented about 24% of consolidated fiscal 2026 revenue, and the pharmaceutical distribution partnership runs through June 2027.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-05-08","url":"https://www.sec.gov/Archives/edgar/data/927653/000092765326000069/mck-20260331.htm","title":"MCKESSON CORP 10-K (2026-05-08)","title_en":"MCKESSON CORP 10-K (2026-05-08)","excerpt":"CVS 헬스 매출은 2026회계연도 연결 매출의 약 24%였다.","excerpt_en":"Sales to our largest customer, CVS Health Corporation, accounted for approximately 24% of our total consolidated revenues in fiscal 2026."},{"stance":"confirms","publisher":"드러그 채널스 인스티튜트","publisher_en":"Drug Channels Institute","kind":"research","lang":"en","published_at":"2025-10-01","url":"https://drugchannelsinstitute.com/files/2025-26-PharmaWholesalers-Overview.pdf","title":"2025-26 의약품 도매·스페셜티 유통 경제 보고서 개요","title_en":"The 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors: Report Overview","excerpt":"보고서는 2011~2025년 맥케슨의 CVS 헬스 매출을 별도 분석 대상으로 둔다.","excerpt_en":"McKesson, Revenues from CVS Health, 2011 to 2025."}]},{"direction":"cost","counterparty":"머크 (미국 MSD)","counterparty_slug":"merck-co","confidence":"high","metric":{"type":"receivables_share","unit":"percent","as_of":"2026-02-24","basis":"머크 2025년 말 총매출채권 중 맥케슨 상대 채권 비중","value":22,"period":"2025-12-31","basis_en":"Share of Merck total accounts receivable attributable to McKesson at year-end 2025","qualifier":null},"note":"맥케슨은 머크의 의약품을 매입하는 도매 고객이다. 머크의 역방향 공시에서 2025년 말 총매출채권의 약 22%가 맥케슨에 대한 채권이었으며, 이는 맥케슨 비용 비중이 아니라 머크 매출채권 기준이다.","note_en":"McKesson is a wholesaler customer that purchases Merck products. Merck's reverse disclosure attributes about 22% of its year-end 2025 accounts receivable to McKesson; this is not McKesson's supplier-spend share.","sources":[{"stance":"confirms","publisher":"머크","publisher_en":"Merck & Co., Inc.","kind":"filing","lang":"en","published_at":"2026-02-24","url":"https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf","title":"머크 2025 Form 10-K","title_en":"Merck & Co., Inc. 2025 Form 10-K","excerpt":"머크는 2025년 말 총매출채권의 약 22%가 맥케슨 상대 채권이라고 공시했다.","excerpt_en":"McKesson Corporation represented approximately 22% of total accounts receivable at December 31, 2025."}]},{"direction":"cost","counterparty":"버텍스 파마슈티컬스","counterparty_slug":"vertex-pharmaceuticals","confidence":"high","metric":null,"note":"맥케슨은 버텍스의 가장 큰 공시 고객으로, FY2025 버텍스 총 gross product revenues의 22%를 차지했다.","note_en":"McKesson is Vertex's largest disclosed customer and accounted for 22% of Vertex's total gross product revenues in FY2025.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm","title":"VERTEX PHARMACEUTICALS INC / MA 10-K (2026-02-13)","title_en":"VERTEX PHARMACEUTICALS INC / MA 10-K (2026-02-13)","excerpt":"10-K는 맥케슨의 FY2025 비중을 총 gross product revenues의 22%로 공시했다.","excerpt_en":"McKesson Corporation 22%."}]},{"direction":"cost","counterparty":"길리어드 사이언스","counterparty_slug":"gilead-sciences","confidence":"high","metric":null,"note":"맥케슨과 그 전문 유통 계열사는 길리어드의 주요 미국 도매 고객으로, FY2025 길리어드 총 gross product sales의 24%를 차지했다.","note_en":"McKesson and its specialty distributor affiliates are major U.S. wholesale customers of Gilead and represented 24% of Gilead's total gross product sales in FY2025.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-24","url":"https://www.sec.gov/Archives/edgar/data/882095/000088209526000006/gild-20251231.htm","title":"GILEAD SCIENCES, INC. 10-K (2026-02-24)","title_en":"GILEAD SCIENCES, INC. 10-K (2026-02-24)","excerpt":"주요 고객 매출 표에서 맥케슨의 FY2025 비중을 총 gross product sales의 24%로 공시했다.","excerpt_en":"McKesson Corporation 24%."}]},{"direction":"cost","counterparty":"암젠","counterparty_slug":"amgen","confidence":"high","metric":null,"note":"맥케슨은 미국 최대 의약품 도매상이자 암젠의 최대 단일 채널로, FY2025 암젠 총매출의 34%($262.5억 총제품매출)를 차지했다.","note_en":"McKesson, the largest U.S. drug wholesaler and Amgen's single biggest channel, accounted for 34% of Amgen's total gross revenues in FY2025 ($26.25B gross product sales).","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-13","url":"https://www.sec.gov/Archives/edgar/data/318154/000031815426000010/amgn-20251231.htm","title":"암젠 2025 회계연도 Form 10-K","title_en":"Amgen 2025 Form 10-K","excerpt":"맥케슨·센코라·카디널헬스 3대 도매상이 각각 2025·2024·2023년 총매출의 10% 이상을 차지했으며, 합산 기준 각각 77%·77%·79%였다.","excerpt_en":"Our product sales to three large wholesalers, McKesson Corporation, Cencora, Inc. and Cardinal Health, Inc., each individually accounted for more than 10% of total revenues for 2025, 2024 and 2023. On a combined basis, these wholesalers accounted for 77%, 77% and 79% of worldwide gross revenues."}]},{"direction":"cost","counterparty":"일라이 릴리","counterparty_slug":"lilly-eli","confidence":"high","metric":null,"note":"맥케슨은 릴리 매출의 직접 창구로서 릴리 제품을 매입하며, 릴리의 10-K는 미국 3대 도매유통사(맥케슨·센코라·카디널)가 각각 연결 매출의 10%+를 차지한다고 공시하고, 릴리가 약국이 아니라 이들 도매상에 판매하므로 미국 최대 도매상인 맥케슨에 대한 유통 집중은 채널 협상력이자 총매출-순매출 간극(리베이트·PBM)이 형성되는 지점이다.","note_en":"McKesson serves as a direct channel for Lilly's revenue by purchasing Lilly products, and Lilly's 10-K discloses that each of the three U.S. wholesalers (McKesson, Cencora, and Cardinal) accounts for 10%+ of consolidated revenue, with Lilly selling to these wholesalers rather than pharmacies, making its concentration on McKesson as the largest U.S. wholesaler both a source of channel bargaining power and the layer where the gross-to-net gap (rebates, PBMs) forms.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-12","url":"https://www.sec.gov/Archives/edgar/data/59478/000005947826000013/lly-20251231.htm","title":"일라이 릴리 10-K FY2025","title_en":"Eli Lilly 10-K FY2025","excerpt":"미국 3대 도매상(맥케슨·센코라·카디널)이 각각 연결 매출 10%+","excerpt_en":"Three U.S. wholesalers (McKesson, Cencora, Cardinal) each 10%+ of consolidated revenue"}]},{"direction":"cost","counterparty":"브리스톨 마이어스 스퀴브","counterparty_slug":"bristol-myers-squibb","confidence":"high","metric":null,"note":"맥케슨은 BMS의 가장 큰 미국 의약품 도매 고객으로, 2025년 맥케슨 대상 총매출은 BMS 미국 총매출의 36%였고 전년 34%에서 높아졌다.","note_en":"McKesson is BMS's largest U.S. pharmaceutical wholesale customer, with gross revenue to McKesson representing 36% of BMS's U.S. gross revenue in 2025, up from 34% in 2024.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-11","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427226000004/bmy-20251231.htm","title":"BRISTOL MYERS SQUIBB CO 10-K (2026-02-11)","title_en":"BRISTOL MYERS SQUIBB CO 10-K (2026-02-11)","excerpt":"2025년 미국 총매출 중 맥케슨 대상 총매출 비중은 36%였다.","excerpt_en":"McKesson Corporation | 36% | 34% | 33%."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-12","url":"https://www.sec.gov/Archives/edgar/data/14272/000001427225000039/bmy-20241231.htm","title":"BRISTOL MYERS SQUIBB CO 2024 Form 10-K","title_en":"BRISTOL MYERS SQUIBB CO 2024 Form 10-K","excerpt":"2024년 미국 총매출 중 맥케슨 대상 총매출 비중은 34%였다.","excerpt_en":"McKesson Corporation | 34% | 33% | 32%."}]},{"direction":"cost","counterparty":"덱스콤","counterparty_slug":"dexcom","confidence":"high","metric":null,"note":"맥케슨은 덱스콤의 미국 의약품 유통사로서, 덱스콤이 FY2022 이 관계에서 총매출의 10% 이상이 발생했다고 공시한 뒤 2026년에도 G6·G7 소매 제품의 공식 유통사로 제시됐다.","note_en":"McKesson, a U.S. pharmaceutical distributor for Dexcom whose relationship Dexcom disclosed generated at least 10% of FY2022 revenue, continued to be listed as an authorized distributor for retail G6 and G7 products in 2026.","sources":[{"stance":"confirms","publisher":"덱스콤","publisher_en":"Dexcom","kind":"ir","lang":"en","published_at":"2026-09-23","url":"https://www.dexcom.com/en-us/dexcom-suppliers","title":"덱스콤 공급사 및 공식 유통사","title_en":"Dexcom Suppliers and Authorized Distributors","excerpt":"덱스콤은 맥케슨의 미국 의약품 사업부를 G6·G7 소매 제품의 공식 유통사로 열거한다.","excerpt_en":"McKesson Corporation – US Pharmaceutical | Retail."},{"stance":"mentions","publisher":"그랜드 뷰 리서치","publisher_en":"Grand View Research","kind":"research","lang":"en","published_at":"2026-09-01","url":"https://www.grandviewresearch.com/industry-analysis/continuous-glucose-monitoring-market","title":"연속혈당측정기 시장 규모·점유율·추세 분석 보고서, 2033","title_en":"Continuous Glucose Monitoring Devices Market Size, Share & Trends Analysis Report, 2033","excerpt":"시장분석은 약국 채널이 2025년 세계 CGM 시장 매출의 59.4%로 가장 컸다고 추정한다.","excerpt_en":"The pharmacies segment led the market with the largest revenue share of 59.4% in 2025."},{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2023-02-09","url":"https://www.sec.gov/Archives/edgar/data/1093557/000109355723000024/dxcm-20221231.htm","title":"덱스콤 2022 회계연도 Form 10-K","title_en":"DexCom, Inc. FY2022 Form 10-K","excerpt":"맥케슨은 FY2022 덱스콤 총매출의 10% 이상을 각각 만든 주요 도매·유통사 중 하나였다.","excerpt_en":"McKesson, our most significant wholesalers and distributors, each generated 10% or more of our total revenue."}]},{"direction":"cost","counterparty":"바이오젠","counterparty_slug":"biogen","confidence":"high","metric":null,"note":"맥케슨은 바이오젠의 핵심 미국 의약품 도매 유통사였고, FY2014에는 바이오젠 총매출의 10%를 넘고 총제품매출의 27%를 차지했다.","note_en":"McKesson was a major U.S. wholesale distributor for Biogen and accounted for more than 10% of Biogen's total revenue and 27% of its gross product revenue in FY2014.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2015-02-04","url":"https://www.sec.gov/Archives/edgar/data/875045/000087504515000005/biib-20141231x10k.htm","title":"Biogen Idec Inc. 2014 Form 10-K","title_en":"Biogen Idec Inc. 2014 Form 10-K","excerpt":"아메리소스버겐과 맥케슨은 2014년 총제품매출의 각각 33%와 27%를 차지했다.","excerpt_en":"AmerisourceBergen and McKesson each accounted for more than 10% of our total revenues in 2014."}]},{"direction":"revenue","counterparty":"Walmart Inc","counterparty_slug":"walmart","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2025-09-23","basis":"월마트 대상 의약품 유통 서비스 매출","value":null,"period":"relationship current at 2025-09-23","basis_en":"Revenue from pharmaceutical distribution services provided to Walmart","qualifier":"confirmed_no_disclosed_value"},"note":"월마트는 맥케슨이 30년 넘게 유통 서비스를 제공해 온 고객이자 제네릭 의약품 공동조달 파트너다. 상대별 매출액이나 비중은 공개되지 않았다.","note_en":"Walmart is both a distribution customer served by McKesson for more than 30 years and its generic-drug sourcing partner. No counterparty-specific revenue amount or share was disclosed.","sources":[{"stance":"confirms","publisher":"맥케슨","publisher_en":"McKesson Corporation","kind":"ir","lang":"en","published_at":"2025-09-23","url":"https://s24.q4cdn.com/128197368/files/doc_presentations/2025/09/250923-McKesson-Investor-Day-Transcript.pdf","title":"맥케슨 2025 인베스터 데이 수정 녹취록","title_en":"McKesson 2025 Investor Day Corrected Transcript","excerpt":"맥케슨은 월마트에 30년 넘게 유통 서비스를 제공해 왔다고 밝혔다.","excerpt_en":"We've been providing distribution services to Walmart for more than 30 years."},{"stance":"confirms","publisher":"뉴스핌","publisher_en":"NewsPim","kind":"news","lang":"ko","published_at":"2025-04-07","url":"https://www.newspim.com/news/view/20250407000962","title":"[GAM] ② '의약품 유통' 매케슨, 관세 충격 속 신고점 행진","title_en":"[GAM] McKesson Reaches New Highs Despite Tariff Shock, Part 2","excerpt":"월마트 같은 대형 체인에 의약품을 전달해 매출을 올린다.","excerpt_en":"McKesson generates revenue by delivering pharmaceuticals to large chains such as Walmart."}]},{"direction":"cost","counterparty":"존슨앤드존슨","counterparty_slug":"johnson-johnson","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2024-09-26","basis":"맥케슨을 통한 JNJ 혁신의약품 매출액","value":null,"period":"current distributor status at 2024-09-26","basis_en":"J&J Innovative Medicine revenue distributed through McKesson","qualifier":"confirmed_no_disclosed_value"},"note":"맥케슨은 JNJ 혁신의약품의 미국 공인 도매 유통사이며, JNJ는 FY2025 매출의 상당 부분이 세 대형 도매상을 통과했다고 공시했지만 회사별 비중은 공개하지 않아 맥케슨 귀속 금액은 비워 둔다.","note_en":"McKesson is an authorized U.S. wholesaler for J&J Innovative Medicine, and although J&J disclosed that three wholesalers handled a substantial share of FY2025 gross revenue, it did not map the percentages to names, so no McKesson-specific amount is assigned.","sources":[{"stance":"confirms","publisher":"얀센 파마슈티컬스","publisher_en":"Janssen Pharmaceuticals, Inc.","kind":"ir","lang":"en","published_at":"2024-09-26","url":"https://www.jnj.com/innovativemedicine/us/authorized-distributors-policies","title":"공인 유통사","title_en":"Authorized Distributors","excerpt":"JNJ는 맥케슨을 도매 유통사로 명시한다.","excerpt_en":"MCKESSON CORPORATION. Wholesale/Distributor."},{"stance":"mentions","publisher":"모닝스타 주식 리서치","publisher_en":"Morningstar Equity Research","kind":"analysis","lang":"en","published_at":"2024-04-30","url":"https://www.morningstar.com/content/cs-assets/v3/assets/blt9415ea4cc4157833/blt94f5075298dc8306/66202cc046f75c49a44437cd/U.S._Drug_Distribution_Landscape.pdf","title":"미국 의약품 유통 산업 지형","title_en":"US Drug Distribution: Industry Landscape","excerpt":"모닝스타는 맥케슨·센코라·카디널 헬스가 미국 의약품 유통시장의 95%를 차지한다고 분석했다.","excerpt_en":"Cardinal Health, Cencora, and McKesson have 95% of the overall US drug distribution market."}]},{"direction":"cost","counterparty":"벡톤 디킨슨","counterparty_slug":"becton-dickinson","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2022-03-18","basis":"맥케슨을 통한 BD 제품 매출","value":null,"period":"2022 relationship disclosure","basis_en":"BD product revenue distributed through McKesson","qualifier":"confirmed_no_disclosed_value"},"note":"맥케슨은 미국 의료기관에 BD 제품을 공급하는 주요 독립 유통사이며, 맥케슨에 귀속되는 BD 매출액은 공개되지 않았다.","note_en":"McKesson is a major independent distributor supplying BD products to U.S. healthcare providers, while BD revenue attributable to McKesson is not disclosed.","sources":[{"stance":"confirms","publisher":"미국 제7연방항소법원(Justia)","publisher_en":"U.S. Court of Appeals for the Seventh Circuit via Justia","kind":"analysis","lang":"en","published_at":"2022-03-18","url":"https://law.justia.com/cases/federal/appellate-courts/ca7/21-1513/21-1513-2022-03-18.html","title":"Marion Diagnostic Center, LLC 대 Becton Dickinson & Co., 제21-1513호","title_en":"Marion Diagnostic Center, LLC v. Becton Dickinson & Co., No. 21-1513","excerpt":"법원 기록은 카디널 헬스와 맥케슨을 BD 제품의 양대 주요 유통사로 설명한다.","excerpt_en":"Cardinal and McKesson are two of the largest distributors of the Products."}]}]}