McKesson Europe

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McKesson Europe AG

logo
legal form Corporation
ISIN DE000CLS1001
founding 1835
Seat Stuttgart , GermanyGermanyGermany 
management
  • Kevin Kettler, CEO
Number of employees 36,917
sales 21.18 billion euros (FY 2019)
Branch Pharmaceutical wholesalers / pharmacies
Website www.mckesson.eu
As of March 31, 2019

McKesson Europe Head Office Stuttgart

The McKesson Europe AG (formerly Celesio AG , previously Go AG ), based in Stuttgart is a leading wholesale and retail company and provider of logistics services in the pharmaceutical and healthcare sector. At the end of the 2019 financial year (March 31, 2019), the company had around 37,000 employees and is represented in 13 countries in Europe. In the 2019 financial year, the company achieved sales of 21.18 billion euros. The company is majority owned by the US McKesson Group, which holds a 77.01% stake. The other 22.99% are in free float. The US-American Kevin Kettler has been the CEO since November 1, 2018.

Group structure

The business is divided into two business areas:

  • In the Pharmacy Solutions division, McKesson Europe bundles its wholesale activities with pharmaceutical products in nine European countries. More than 50,000 pharmacies and hospitals are supplied by 116 wholesale branches every day. Additional services for pharmacists such as pharmacy cooperations and the provision of IT platforms are also provided. McKesson Europe also offers various services for suppliers, manufacturers and other companies in the pharmaceutical and healthcare sector.
  • The Consumer Solutions division is aimed at patients and consumers and includes activities in the areas of retail pharmacies and mail order pharmacies as well as home care. At the end of the 2019 financial year, McKesson Europe had around 1,900 retail pharmacies in five (Great Britain, Ireland, Belgium, Sweden and Italy) countries and 6,900 partner and branded partner pharmacies,

history

1835-1948

The drugstore and color goods store Gehe & Co. was founded by Franz Ludwig Gehe in Dresden on May 1st, 1835 on Königstrasse and opened to the capital market on January 1st, 1903 when it was converted into a stock corporation . In January 1904 the shares were admitted to trading on the Dresden Stock Exchange .

In 1909 the new location on Leipziger Strasse was moved and the trading house on Königstrasse was given up. With capital increases in 1910 and 1912, the financial basis for the establishment and expansion of a nationwide distribution of "drugs and dyed goods, pharmaceutical and chemical products" was created. In 1922 the company founded its first German branch in Stuttgart.

After the Second World War, the headquarters in Dresden and most of the branches were expropriated. Gehe & Co. AG made a fresh start in West Germany with branches in Stuttgart, Kassel and Sulzbach-Rosenberg.

1948-1981

The Go-parent in 1947 in Dresden under the name of medicinal chemistry as a state-owned enterprise continued and on April 1, 1951, the nationalized parent drug factory Dr. Madaus & Co. from Radebeul merged to form VEB Arzneimittelwerk Dresden .

With effect from January 1, 1973, Haniel took over the majority of shares in Westdeutsche AG. The condition of the Haniel management was that the management remained in the company in order to further expand the solid foundation created after the war. The name Gehe , which was known in the pre-war period , was brought to the attention of pharmacists through the revitalized or newly created branches. During the transition to Haniel, these were: Bremen, Hamburg, Kassel, Kelkheim, Landshut, Mühldorf, Munich, Nuremberg, Regensburg and Stuttgart. 1973 sales of 285 million DM were achieved. The majority shareholder Franz Haniel & Cie. further pharmaceutical wholesalers ( Friedrich Schäfer GmbH , Weiterstadt and Kaiserslautern, Wilmaco GmbH , Hamm and Lieser Pharma-GmbH , Duisburg) brought in.

1981-2008

In 1982, the Haniel Group acquired RUWA Rudloff & Watermann GmbH & Co. KG in Minden, a pharmaceutical wholesaler with a branch in Delmenhorst, and integrated it into Gehe. In 1985 the Kaiser + Kraft Group , Stuttgart, mail order business for transport, storage, operations and offices was acquired. Until 1992 customers in Germany were supplied from the branches in Hamburg, Berlin, Haan, Dresden, Stuttgart and Munich. In the following years, the group's trading structure extended to 14 countries in Europe and the USA. When TAKKT went public on September 15, 1999, the spin-off of the mail order business was ended.

From 2003

In April 2003, the year of the 100th birthday of the company's conversion into a stock corporation , the general meeting resolved to change the name from Gehe AG to Celesio AG with a majority of 99.98% . Today the German subsidiary GEHE Pharma Handel still operates under the original name. In April 2007 Celesio announced the takeover of 90% of the shares in the mail order pharmacy DocMorris in order to build up a pharmacy chain in Germany. The acquisition took place in the hope of the case of the ban on third-party ownership of the Pharmacies Act, which was legitimized by the ECJ in May 2009 . For the pharmaceutical wholesaler Gehe, also part of the Celesio Group, the acquisition resulted in a loss of customers because pharmacists saw the chain as a threat. DocMorris was now operated as a franchise-like concept in which pharmacists were allowed to use the DocMorris brand for a monthly license fee. As a result, Celesio sold DocMorris to Zur Rose AG in October 2012 .

In June 2009 it became known that Celesio had acquired a majority stake in the largest Brazilian pharmaceutical wholesaler Panpharma . Panpharma was fully acquired in April 2012. In February 2016, Celesio agreed to sell its Brazil business, consisting of Panpharma and Oncoprod, to the holding company of the Brazilian pharmaceutical wholesaler SantaCruz. In September 2013 Celesio sold its subsidiary Rudolf Spiegel GmbH to WEPA Apothekenbedarf .

On October 24, 2013, the American McKesson Group announced an agreement to acquire Celesio for EUR 6.1 billion (around EUR 23 per share). On January 13, 2014, however, the company reported on the unsuccessful takeover of Celesio by McKesson due to the fact that the 75% threshold was not reached. At the beginning of November 2013, the hedge fund Elliott acquired 12.68 percent of Celesio from Paul Singer , a well-known practice of his in order to profit from takeovers. After the failed takeover by McKesson, Singer increased his direct and indirect stake to around 32 percent. On January 23, 2014, Haniel took over the stake from the Elliott hedge fund and one day later served the 75.99% to McKesson, which meant that the takeover was still successful.

In July 2013, Sainsbury’s and Celesio announced the formation of a strategic pharmacy partnership, in the course of which McKesson Europe subsidiary LloydsPharmacy is acquiring Sainsbury’s pharmacy business for 125 million GBP.

The company's share was listed in the MDAX until September 21, 2015 . The removal from the index took place due to the change of the stock exchange segment from the Prime Standard to the open market . On September 12, 2017 Celesio was renamed McKesson Europe.

On December 12, 2019, McKesson Corporation announced that it wanted to bring its German wholesale business (GEHE Pharma Handel GmbH, a subsidiary of McKesson Europe) into a joint venture with Alliance Healthcare Deutschland AG (a subsidiary of Walgreens Boots Alliance). McKesson is to hold 30% of the planned joint venture, Walgreens Boots Alliance 70%.

Corporate management

Board

  • Kevin Kettler (Chairman of the Board of Management, Labor Director, since November 1, 2018)
  • Tilo Köster (Member of the Board of Management, Legal and Compliance, since September 23, 2014)
  • Alain Vachon (Member of the Management Board, Finance, since July 16, 2014)

Supervisory board

  • Brian S. Tyler (Chairman)
  • Ihno Goldenstein (Deputy Chairman)
  • WM Henning Rehder (Deputy Chairman)
  • Detlef Bernhardt
  • Dennis Both
  • Jörg Lauenroth-Mago
  • Pauline Lindwall
  • Susan Naumann
  • Ulrich Neumeister
  • Lori A. Schechter
  • Jack Stephens
  • Britt Vitalone

Web links

Commons : Celesio  - collection of images, videos and audio files

Individual evidence

  1. ↑ a b c d e f McKesson Europe - Annual Report 2019. (PDF, 1.9 MB) In: mckesson.eu. June 15, 2019, accessed August 26, 2019 .
  2. ↑ Renaming: Celesio AG becomes McKesson Europe AG. Retrieved August 26, 2019 .
  3. ↑ share. Retrieved August 26, 2019 .
  4. ↑ jb / DAZ.online: McKesson Europe has a new boss. October 31, 2018, accessed August 26, 2019 .
  5. ↑ What we do. Retrieved August 26, 2019 .
  6. ^ McKesson: McKesson Annual Report 2019. In: McKesson.com. McKesson, March 31, 2019, accessed August 26, 2019 .
  7. ↑ May 1, 1835: Founding of the company
  8. ↑ 1903–1947: History
  9. ↑ April 26, 2007 Celesio acquires majority in DocMorris
  10. ↑ Martin-W. Buchenau, Maike Telgheder, Peter Thelen: ECJ judgment: disaster for Doc Morris . In: Handelsblatt , May 19, 2009. Retrieved July 1, 2012. 
  11. ^ Spiegel: Pharmaceutical discounter DocMorris is sold to Switzerland , October 25, 2012
  12. ↑ Handelsblatt: Celesio wants to take over Panpharma completely , April 26, 2012
  13. ↑ Dr Benjamin Wessinger (wes): Celesio sells business in Brazil. In: www.deutsche-apotheker-zeitung.de. February 1, 2016, accessed August 26, 2019 .
  14. ↑ Press portal: Celesio has sold the Rudolf Spiegel Versand to WEPA. September 24, 2013. Retrieved October 24, 2013 .
  15. ↑ Anna Edney: Celesio takeover failed - McKesson does not take 75% hurdle . January 14, 2014 ( welt.de [accessed August 26, 2019]).
  16. ↑ Paul Singer's Elliot hedge fund joins Celesio - manager magazin from November 6, 2013
  17. ↑ Increased - what is Elliott boss Singer planning to do with Celesio? - manager magazin, January 21, 2014
  18. ↑ dpa: Celesio share is in great demand - McKesson takes the second attempt. Finanz.net, January 24, 2014, accessed January 24, 2014 .
  19. ↑ Vonovia replaces Lanxess in the Dax. In: handelsblatt.com. September 3, 2015, accessed on February 11, 2016 : "With its revocation of admission to the Regulated Market, Celesio AG no longer fulfills the necessary criterion for membership in the Prime Standard," declared Deutsche Börse. "
  20. ↑ Celesio AG: About McKesson Europe. Retrieved September 12, 2017 .
  21. ^ Benjamin Rohrer: Alliance Healthcare and Gehe agree on collaboration. December 12, 2019, accessed January 15, 2020 .