McKesson Corporation was among the largest detractors in the Janus Henderson Global Sustainable Equity Fund during the second quarter of 2026, the firm said in its investor letter. The stock fell amid a wider derating of drug distributors, driven by GLP-1 cash-pay concerns, a rotation into insurers, and rising investor worries about specialty pharmacy exposure ahead of a large wave of loss-of-exclusivity events over the next five years. Janus Henderson maintained its investment thesis, viewing McKesson as a leading player in a consolidated market with defensive growth characteristics, scale advantages, and durable customer relationships. McKesson closed at $796.35 per share on July 15, 2026, with a market capitalization of $93.23 billion, and posted a one-month return of 9.60% and a 52-week gain of 15.82%.
McKesson CorporationGLP-1 cash-pay concerns, rotation into insurers, and specialty pharmacy exposure worries drove derating of drug distributors
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