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    Cencora beats profit estimates on strong demand for costly specialty drugs

    Cencora beat Wall Street estimates for second-quarter profit on Wednesday, driven by robust demand for costly specialty medicines that treat complex diseases such as cancer and rheumatoid arthritis. The drug distributor has been benefiting from specialty drugs and biosimilars - close copies of complex biotech drugs - at a time when intense competition pulls down prices of generic medicines. Generic drugs are exact copies that can be easily produced and sold once the original medicine loses patent protection, typically leading to quick drops in the prices of the original by 90% or more.