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America's health-care intermediaries, such as Pharmacy Benefit Managers (PBMs), have been earning annualized excess returns significantly higher than the S&P 500, indicating their remarkable profitability.

America's health-care intermediaries, such as Pharmacy Benefit Managers (PBMs), have been earning annualized excess returns significantly higher than the S&P 500, indicating their remarkable profitability. "Rewrite in less than 10 words.

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