As filed with the Securities and Exchange Commission on February 9, 1995.    
                                                       Registration No. 33-86536

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549
                            
                        POST-EFFECTIVE AMENDMENT NO. 1      

                                     
                                    TO     

                                   FORM S-8

                            REGISTRATION STATEMENT

                                     UNDER

                          THE SECURITIES ACT OF 1933

             McKESSON CORPORATION (formerly, "SP Ventures, Inc.")
            (Exact name of registrant as specified in its charter)

Delaware                                                     94-3207296
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)

One Post Street
San Francisco, California                                    94104
(Address of Principal Executive Offices)                     (Zip Code)

         SP Ventures, Inc. 1994 Stock Option and Restricted Stock Plan
                 McKesson Corporation 1973 Stock Purchase Plan
              McKesson Corporation Profit-Sharing Investment Plan
                             (Full Title of Plans)

Nancy A. Miller                                                 Ivan D. Meyerson
Vice President and                                            Vice President and
Corporate Secretary                                              General Counsel
One Post Street                                                  One Post Street
San Francisco, CA 94104                                  San Francisco, CA 94104
                   (Name and address of agents for service)

                                (415) 983-8300
        (Telephone number, including area code, of agents for service)

    
        This Post-Effective Amendment to the Registration Statement shall be
effective upon filing in accordance with Rule 462 under the Securities Act of
1933.     


 
                                  SIGNATURES
    
     Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Post-Effective
Amendment No. 1 to the Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of San Francisco, State of
California, on the 8th day of February, 1995.     

 
                                    McKESSON CORPORATION


                                        
                                    By:     /s/ Nancy A. Miller      
                                        ____________________________
                                                Nancy A. Miller
                                        Vice President and Secretary

    
     Pursuant to the requirements of the Securities Act of 1933, this Post-
Effective Amendment No. 1 to the Registration Statement has been signed by the
following persons in the capacities indicated on the 8th day of February, 1995.
     
 
Signature                                        Title
- ---------                                        -----
 
*
- -----------------------------
Alan J. Seelenfreund                             Chairman of the Board and Chief
                                                 Executive Officer             
                                                 (Principal Executive Officer)
  
*
- -----------------------------                     
David E. McDowell                                President, Chief Operating
                                                 Officer and Director      
 
*
- -----------------------------                    
Kevin B. Ferrell                                 Vice President, Chief Financial
                                                 Officer (Principal Financial  
                                                 Officer)                       
*
- -----------------------------                    
Richard H. Hawkins                               Vice President and Controller
                                                 (Principal Accounting Officer)


                                      -2-

 
*
- -----------------------------                    
Tully M. Friedman                                Director 
 
 
*
- -----------------------------      
James R. Harvey                                  Director 

 
 
*
- -----------------------------                    
George M. Keller                                 Director 
 
 
*
- -----------------------------  
Leslie L. Luttgens                               Director 
 
 
*
- -----------------------------                 
John M. Pietruski                                Director 
 
 
*
- -----------------------------  
Jane E. Shaw                                     Director 
 
 
*
- -----------------------------  
Robert H. Waterman, Jr.                          Director 
 
    
   /s/  Nancy A. Miller      
- -----------------------------
*By:    Nancy A. Miller
      (Attorney-in-Fact)


                                     -3- 

 
                                 EXHIBIT INDEX


 
Exhibit                        Description
   No.
     
   4.1*  SP Ventures, Inc. 1994 Stock Option and Restricted
         Stock Plan
   4.2*  McKesson Corporation 1973 Stock Purchase Plan, as
         amended through July 31, 1987
   4.3   McKesson Corporation Profit-Sharing Investment Plan,
         as amended through November 18, 1994
   5.1*  Opinion of Pillsbury Madison & Sutro, as to the
         legality of the securities being registered
   5.2*  Undertaking by the Company as to the submission of
         the McKesson Corporation Profit-Sharing Investment
         Plan to the Internal Revenue Service
  23.1*  Independent Auditors' Consent
  23.2*  Consent of Pillsbury Madison & Sutro (included in
         Exhibit 5.1 to this Registration Statement)
    24*  Powers of Attorney pursuant to which certain
         officers and directors of the registrant signed this
         Registration Statement


          * Previously filed.     


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