The U.S. supply chain for prescription drugs is highly complex, involving several intermediaries between drug manufacturers and patients. This analysis estimates the percentages of drug expenditures that are allocated to each stakeholder in the supply chain, including manufacturers. Then, it examines the gross margins (hereinafter referred to as “margins”) of three primary intermediaries in the U.S. retail prescription drug supply chain, namely wholesalers, retail pharmacies, and Pharmacy Benefit Managers (PBMs) from Quarter 1 (Q1) 2020 to Quarter 4 (Q4) 2022.
