Based in Pennsylvania, Cencora is among the three largest pharmaceutical distributors in the United States, shipping more than one billion medications each year. Along with McKesson and Cardinal Health, the company dominates the U.S. pharmaceutical distribution market, with these three players accounting for more than 90% of the sector. Cencora serves as an intermediary between drug manufacturers and healthcare providers, including hospitals, pharmacies, clinics, and physicians. In practice, it purchases medications from manufacturers, takes ownership of them, and then resells them to its customers. This business model is characterized by very high revenue volume but relatively low margins.