Cencora Inc

COR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$112.00	Lrjjp	Hbgkcyhw

Upon a Fresh Look, We Are Lowering Our AmerisourceBergen Fair Value Estimate to $148

Keonhee Kim

Dec 23, 2022

Business Strategy and Outlook

AmerisourceBergen is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With over $197 billion in U.S. human healthcare solutions sales in fiscal 2022, the company supplies roughly one third of the domestic drug distribution market. Its two close competitors are Cardinal Health and McKesson. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the U.S. market.

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