<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>5
<FILENAME>f72121ex21.txt
<DESCRIPTION>LIST OF SUBSIDIARIES
<TEXT>

<PAGE>   1

                                                                      EXHIBIT 21

                         SUBSIDIARIES OF THE REGISTRANT

     There is no parent of the Company. The following is a listing of the
significant subsidiaries of the Company, or if indented, subsidiaries of the
Company under which they are listed:

<TABLE>
<CAPTION>
                                                              JURISDICTION OF
                                                               ORGANIZATION
                                                              ---------------
<S>                                                           <C>
HBO & Company...............................................  Delaware
McKesson Canada Inc.........................................  Canada
  Medis Health and Pharmaceutical Services Inc..............  Canada
GM Holdings, Inc............................................  Delaware
  McKesson General Medical Corp.............................  Virginia
</TABLE>
</TEXT>
</DOCUMENT>