The Philadelphia region is no longer home to one of the ten largest companies in America after Conshohocken-based AmerisourceBergen dropped from tenth place to eleventh on the 2023 Fortune 500 list, writes Ryan Mulligan for the Philadelphia Business Journal.

The list ranks publicly traded companies by annual revenue. Its latest iteration was published earlier this week. For the third year in a row, Greater Philadelphia has thirteen companies among the 500 largest, but many of them have moved down several places. For example, a year ago, there were seven companies in the top 300, but this year there are only five.

AmerisourceBergen posted $238.6 billion in revenue for fiscal 2022. It was overtaken by Chevron with a revenue of $246.3 billion. This is the first time in the last six years that the pharmaceutical wholesaler has not been in the Fortune 10.

Another Montgomery County company on the list is Radnor-based Lincoln National Corp., which went down 35 spots to No. 222 this year. The drop came after the company saw its revenue fall by 5.5 percent to $18.8 billion.

Read more about AmerisourceBergen in the Philadelphia Business Journal.

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