McKesson Corp., the nation’s largest pharmaceutical distributor, announced today that it will relocate its headquarters from San Francisco to Irving in April.
The company, which delivers prescription drugs and medical supplies, has more than 75,000 employees globally and had revenue of $208 billion last year. It ranks sixth on the Fortune 500 list, behind only Walmart, Exxon Mobil, Berkshire Hathaway, Apple and UnitedHealth Group. With its move, McKesson will become the second-largest company by revenue to be based in North Texas. The largest, Exxon Mobil, is also headquartered in Irving.
The medical industry giant was founded by John McKesson and Charles Olcott in 1833 as a drug import and chemicals wholesale business in New York City. Since then, it’s become a powerhouse in pharmaceutical distribution, moving mass quantities of prescription drugs, latex gloves and other medical supplies. Although many consumers never see its name on a product, one-third of pharmaceuticals used each day in North America are delivered by McKesson.
McKesson began setting the stage for its corporate relocation last spring. It opened a North Texas campus in Las Colinas and relocated U.S. Pharmaceuticals Group, its largest business unit and biggest revenue driver. When its campus opened, it brought about 1,000 jobs to Dallas-Fort Worth. Since then, it has grown to about 1,600 jobs at the campus.
With the headquarters relocation, McKesson’s top executives will be based in North Texas. Company officials say the relocation will bring additional jobs in divisions such as human resources, finance and accounting and corporate strategy, but it did not specify a number. The company has about 500 jobs in San Francisco, and most of those will move to Irving or another company hub by 2021. Some divisions of the company, such as McKesson Ventures and a tech development team for its U.S. oncology network, will remain in San Francisco.