McKesson & Robbins, Incorporated Stock Certificate

Description

McKesson & Robbins, Incorporated Stock Certificate
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McKesson & Robbins was founded in 1840 by John McKesson and Dr. Charles A. Robbins and became the nation's best-known drug manufacturing company. As the years passed, heirs to the founders were constantly at odds, the company's direction changed, and finally, in 1926, McKesson & Robbins was sold to Frank Donald Coster for million. It was Coster's business acumen that led to the creation of the McKesson & Robbins that Murray had joined.
McKesson & Robbins continued to show steady growth, but in 1938, questionable activities by Coster, whose real name was Philip Musica, were revealed. Wall Street and the business world were shocked. Musica had previously been convicted of bribery and fraud and had served prison sentences. When he learned of the McKesson & Robbins revelations, Coster took his own life, and a trustee was appointed to oversee the company operations.
Although Wall Street and the nation were uneasy about its future, McKesson & Robbins was a strong, vast, and complex operation.
In a book titled "The Road to Market," a spokesman for McKesson & Robbins said that its quick recovery after 1938 could be attributed to the high regard in which the company was held by its customers and the public. The vast majority of the company was not affected by the scandal. The book continued: "What triumphed in the end was men, management, and merchandising. The brunt of restoring morale and keeping up sales was borne by William J. Murray, Jr., first vice president, who worked side by side during the critical months with the court-appointed trustee, William J. Wardall."
In July 1941, Murray became President of McKesson & Robbins, and in 1944, he was named chairman. He served as chairman until 1955, when he was named chairman of the executive committee. He continued in that role until he retired in 1964.
Today, McKesson Corporation, heir to the original McKesson & Robbins, is the leading health care supply management company in North America. The company also develops and manages marketing programs for pharmaceutical manufacturers and is involved in providing other health-related services and supplies. During fiscal 1998, McKesson achieved record total revenues of .9 billion.
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