By Adam J. Fein, Ph.D. and the Drug Channels Institute team · 566-page PDF · March 2026
Every year, Drug Channels Institute publishes economic reports with fact-based analyses of key drug channel participants — available as downloadable PDFs.
Released March 2026
The most comprehensive, fact-based analysis of the evolving drug channels within the U.S. healthcare system — pharmacies, PBMs, patients’ costs, and the money that changes hands at each step.
Forthcoming October 2026
The most comprehensive tool for analyzing the economic and business realities of the U.S. pharmaceutical distribution industry.
Earlier years of the same two studies. Open an edition to read it, or ask DCI to compare a chapter across years.
Released March 2025
The prior edition of the flagship pharmacies and PBM study — 540+ pages on dispensing, reimbursement, and PBM economics.
Released March 2024
The 2024 edition of the pharmacies and PBM report, covering the year GLP-1s began to dominate retail growth.
Released March 2023
The 2023 edition — the last full year before IRA negotiation began to rewrite Part D economics.
Released October 2025
How the Big Three and specialty distributors make money — and what compressed margins mean for manufacturers.
Released October 2024
The 2024-25 wholesaler edition — 178 exhibits on the Big Three, specialty distributors, and manufacturer services.
Released October 2023
The 2023-24 edition of the distribution report, written as specialty mix began to replace traditional spread.
