Pharmaceutical distribution hub
Cencora, Inc.
Cencora buys pharmaceuticals from manufacturers and distributes them to pharmacies, hospitals, and specialty care providers, with Walgreens and Boots and Evernorth representing major sources of revenue. It pays manufacturers such as Amgen and AbbVie for inventory and acquired the retina practice management organization RCA to connect specialty distribution more closely with care delivery.
COR Updated Sep 11, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Cencora, Inc. is directly linked to 7 companies (7 supply, 0 revenue relationships) and reaches 14 companies within two hops; the links are backed by 10 dated sources, 7 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 revenue: USD 321,332,819,000
- Segments · U.S. Healthcare Solutions · International Healthcare Solutions
Revenue from
- Walgreens and Boots UK Ltd. High confidence· Revenue share 25 percent · FY2025 · Combined share of Cencora revenue from agreements and arrangements with Walgreens and Boots UK Ltd.
Pharmaceutical distribution agreements and related arrangements with Walgreens in the U.S. and Boots in the U.K. generated about 25% of FY2025 revenue. The filing reports only their combined share, not a customer-by-customer split. - Evernorth Health Services High confidence· Revenue share 13 percent · FY2025 · Share of Cencora revenue attributable to Evernorth Health Services
Evernorth, Cigna Group's health-services business, was Cencora's second-largest customer and represented about 13% of FY2025 revenue.
Pays to
- Amgen High confidence· Amount $21B · FY2025 · Amgen gross product sales to Cencora
Cencora purchases Amgen medicines for distribution to healthcare providers and pharmacies. Amgen reported USD 20.986 billion of FY2025 gross product sales to Cencora. - Bristol-Myers Squibb Company High confidence
Cencora is BMS's second-largest U.S. pharmaceutical wholesale customer, with gross revenue to Cencora representing 29% of BMS's U.S. gross revenue in 2025. - AbbVie High confidence
Cencora is a major U.S. wholesale customer purchasing AbbVie medicines. AbbVie said three wholesalers including Cencora represented substantially all of its FY2025 U.S. pharmaceutical sales, but did not disclose Cencora's individual amount. - Pfizer Inc. High confidence
Cencora is Pfizer's second-largest U.S. wholesaler customer and accounted for a material share of FY2025 total revenue. - Gilead Sciences, Inc. High confidence
Cencora and its specialty distributor affiliates are major U.S. wholesale customers of Gilead and represented 21% of Gilead's total gross product sales in FY2025. - Lilly (Eli) High confidence
Cencora, formerly AmerisourceBergen, is one of the three major U.S. wholesalers to which Lilly sells rather than selling to pharmacies. Lilly's 10-K discloses that McKesson, Cencora, and Cardinal each account for 10%+ of consolidated revenue, making this distribution concentration a source of Cencora's channel bargaining power and the layer where the gross-to-net gap from rebates and PBMs forms. - Johnson & Johnson Medium confidence
Cencora is an authorized U.S. wholesale and specialty distributor for J&J Innovative Medicine, but no amount or share is attributed specifically to Cencora because J&J reports wholesaler concentration anonymously.
Investments
- Retina Consultants of America High confidence· Contract value $4B · 2025 acquisition · Cash purchase price paid for an 85% interest in RCA
Cencora acquired an 85% interest in the retina practice management organization RCA in January 2025 for USD 4.042 billion in cash. The metric captures only the cash purchase price and excludes settlement of the pre-existing commercial receivable and contingent consideration.Mentions KO Etoday Published Aug 20, 2026: Is Reducing Wholesalers Enough? Lessons from Global Pharmaceutical Distribution
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Cencora, Inc. | node | +44.1 | +26.3 | +25.3 | +10.4 | +51.5 | -1.4 |
| Amgen | benef1 | +0.9 | +20.4 | +13.5 | -6.8 | +29.7 | +36.3 |
| Johnson & Johnson | benef1 | +11.4 | +6 | -8.6 | -4.8 | +47.5 | +35.1 |
| Bristol-Myers Squibb Company | benef1 | +2.9 | +19 | -26.1 | +15.8 | +0.1 | +28.1 |
| Gilead Sciences, Inc. | benef1 | +30 | +23.6 | -2 | +18.7 | +36.6 | +24.5 |
| Pfizer Inc. | benef1 | +66.7 | -10.4 | -41.3 | -2.2 | +0.6 | +20.2 |
| AbbVie | benef1 | +32.4 | +24 | -0.2 | +18.9 | +33.1 | +14.9 |
| Lilly (Eli) | benef1 | +66.1 | +34.3 | +60.9 | +33.3 | +40.2 | +7.5 |
| Veeva Systems | benef2 | -6.2 | -36.8 | +19.3 | +9.2 | +6.2 | +23.2 |
| Agilent Technologies, Inc. | benef2 | +35.5 | -5.5 | -6.4 | -2.7 | +1.9 | +11.5 |
| Shionogi & | benef2 | +15 | -2.2 | +17.8 | -1 | +42.4 | -7.3 |
| Samsung Biologics | benef2 | -6.8 | +8.6 | +5.8 | +28.7 | +5 | -17.1 |
| Yuhan Corporation | benef2 | -9 | -2.3 | +19.7 | +119.9 | -16.7 | -24.2 |
| LigaChem Biosciences | benef2 | -26.2 | -18.1 | +37.1 | +151 | +60.5 | -54.7 |
| ABL Bio | benef2 | +15.9 | -31.3 | +14.2 | +65.2 | +443.9 | -63.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Cencora, Inc. operates across Pharmaceutical distribution hub. It is -1.4% in 2026. The supply side (avg +27.3%) leads the stock (-1.4%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Amgen (+36.3%) and the furthest behind is Pfizer Inc. (+20.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It pays manufacturers such as Amgen and AbbVie for inventory and acquired the retina practice management organization RCA to connect specialty distribution more closely with care delivery.
Analysis generated from returns as of 2026-09-04