McKesson (MCK) risk factors: FY2026 10-K

1. We experience costly and disruptive legal disputes.
2. We experience losses not covered by insurance or indemnification.
3. We experience costly legal disputes, government actions, and adverse publicity regarding our role in distributing controlled substances such as opioids.

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1. We are subject to extensive, complex, challenging, and frequently changing healthcare, environmental, and other laws, and may experience increased costs to distribute controlled substances such as opioids.new
2. We are subject to extensive and frequently changing laws relating to healthcare fraud, waste, and abuse.
3. We might lose our ability to purchase, store, or distribute pharmaceuticals, including controlled substances, and medical products.
4. Privacy, cybersecurity, data protection, and AI laws and guidance increase our compliance burden and expose us to risks.rewordedAICybersecurity

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1. Anti-bribery and anti-corruption laws increase our compliance burden and expose us to risks.reworded

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1. We might record significant charges from impairment to goodwill, intangibles, and other long-lived assets.

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1. We experience cybersecurity incidents that might significantly compromise our technology systems or might result in material data breaches.Cybersecurity
2. We experience significant problems with information systems or networks.
3. Our technology products or services might not conform to specifications or perform as we intend.

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1. Pharmaceutical and medical products that we distribute might not conform to specifications or perform as intended.
2. We might not realize expected benefits from business process initiatives.
3. We might be unable to successfully complete or integrate acquisitions or other strategic transactions, and our investments in businesses may not perform as we expect.new

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1. From time to time we are adversely impacted by delays or other difficulties with divestitures.
2. Our planned separation of Medical-Surgical Solutions is contingent upon the satisfaction of certain conditions, may not be completed on the currently contemplated terms or timeline, or at all, and, if completed, may not achieve the intended financial and strategic benefits.new
3. We might not realize the expected tax treatment from our split-off of Change Healthcare.

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1. We might be adversely impacted by outsourcing or similar third-party relationships.
2. We may be unsuccessful in achieving our strategic growth objectives.
3. We are impacted by customer purchase reductions, contract non-renewals, payment defaults, and bankruptcies.

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1. Our contracts with governmental entities involve future funding and compliance risks.
2. We might be harmed by changes in our relationships or contracts with suppliers.
3. We might infringe intellectual property rights or our intellectual property protections might be inadequate.
4. Our use of third-party data is subject to risks and limitations that could impede the growth of our data services business.

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1. We might be unable to successfully recruit and retain qualified employees.

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1. We might be adversely impacted by healthcare reform such as changes in pricing and reimbursement models.
2. We are adversely impacted by competition and industry consolidation.

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1. From time to time we have difficulties in sourcing or selling products due to a variety of causes and are adversely impacted by disruptions or changes in product supply.
2. We are adversely impacted as a result of our distribution of generic pharmaceuticals.
3. We are adversely impacted by changes in the economic environments in which we operate, including from inflation, an economic slowdown, a recession, or fluctuations in foreign currency exchange rates.
4. Changes affecting capital and credit markets might impede access to credit, increase borrowing costs, and disrupt banking services for us and our customers and suppliers and might impair the financial soundness of our customers and suppliers.

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1. We might be adversely impacted by tax legislation or challenges to our tax positions.

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1. Conditions and events outside of our control, such as widespread public health issues, natural disasters, and geopolitical factors adversely impact our business operations and our financial position or results of operations.
2. We may be adversely affected by global climate change or by regulatory or market responses to such change.

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1. Evolving expectations and regulatory requirements related to governance and sustainability matters may damage our reputation and have an adverse effect on our business, financial condition, and results of operations.
2. Exclusive forum provisions in our bylaws could limit our stockholders’ ability to choose their preferred judicial forum for disputes with us or our directors, officers, or employees.

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Headings in the FY2025 10-K with no match this year.

1. We experience increased costs to distribute controlled substances such as opioids.
2. We are subject to extensive, complex, and challenging healthcare, environmental, and other laws.
3. We might be unable to successfully complete or integrate acquisitions or other strategic transactions.