This IDC contract for Pharmaceuticals > Pharmaceutical Products, Healthcare > Medical Practitioners, Medical Equipment & Supplies > Medical Supplies/Equipment, Industrial Products & Machinery > Industrial Products & Services was awarded in FY2020 on December 11, 2019 to McKesson by Veterans Affairs. There have been $19.9B in obligations to date with a ceiling value of $61.8B, showing a 32% burn rate so far on the contract. The contract was not competed under any preference program with 3 offers received. We expect a 5 year duration with ultimate completion date of August 08, 2024.
McKesson is a contractor located in TX, doing primarily Pharmaceuticals > Pharmaceutical Products work for Veterans Affairs. The company receives $10.1B annually in federal awards (as of FY2020). Also, they have shown success winning IDC contracts concentrated mainly on a singular customer focused portfolio.
The Federal Government competes and awards an Indefinite Delivery Contract (IDC) to support requirements where the quantity and time of delivery are unknown. Typically referred to as Indefinite Delivery-Indefinite Quantity (IDIQ) contracts, the Government has the option of awarding a single or multiple award IDIQ. Once awarded, an IDIQ acts as a master agreement between the Federal Government and one or more contractors. On an as-needed basis, Federal buying organizations place orders, commonly referred to as Task Orders against an IDIQ, to purchase goods or services available through the IDIQ.
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