Chesterbrook’s AmerisourceBergen placed 12th on this year’s Fortune 500, a prestigious list that ranks companies by total revenue.

With a total market value of approximately $19 billion and annual revenue of $153,143.8 million, the company that employs 19,500 people slipped one spot from last year. However, it’s still holding strong near the very top of the list.

The drug wholesaler’s revenue growth of 4.3 percent in 2017 was helped by increased business from a number of its biggest customers, and strong sales of costly cancer drugs. Also, the company’s animal health unit recorded a strong growth in sales, thanks to its booming pet medicine business.

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While sales increased, AmerisourceBergen’s profits took a major hit due to accrued litigation costs from the previous year. Pharmaceutical distributors are facing a number of lawsuits over their alleged role in the nationwide opioid epidemic.

As a result, AmerisourceBergen reported total profits of $364.5 million, which is a 74.5 percent drop compared to the previous year.

Read more about this year’s Fortune 500 here, and check out previous VISTA Today coverage of AmerisourceBergen here.

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