Business Strategy and Outlook| Karen Andersen, CFA |
AmerisourceBergen is a leading domestic wholesaler of branded, generic, and specialty pharmaceutical products. With over $210 billion in annual U.S. drug distribution revenue, Amerisource supplies nearly one third of the overall market, comparable to McKesson and slightly outpacing Cardinal Health in market share. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the U.S. market. The highly consolidated pharmaceutical wholesale market reflects the substantial scale-based cost advantages held by the largest players, with smaller wholesalers struggling to maintain profits.