SAN DIEGO, Calif. — The HDA Research Foundation honored Albert “Al” Paonessa, III, Chairman and former CEO of KeySource, with the 2026 Nexus Award for Lifetime Achievement. The award, the healthcare distribution industry’s highest individual achievement, was presented last night at the Healthcare Distribution Alliance’s 2026 Business and Leadership Conference.
Founded in 1956, the Nexus Award recognizes one industry executive’s exceptional character, accomplishments and leadership in the healthcare distribution industry, HDA and in their community. Recipients are selected by HDA leadership, the HDA Research Foundation Board of Directors and former Nexus winners who remain active within the sector. This year marks the 70th anniversary of the Nexus Award.
“Al Paonessa represents the very best of healthcare distribution: entrepreneurial leadership, deep industry knowledge and an enduring commitment to the people and partnerships that make this sector successful,” said HDA President and CEO Chester “Chip” Davis, Jr. “Further, Al’s dedication has helped shape the future of our sector through innovation, mentorship, and a steadfast focus on serving customers, manufacturers and communities with the highest level of integrity.”
Throughout his more than 30 years in the pharmaceutical distribution industry, Mr. Paonessa earned a reputation as one of the industry’s most respected figures. He began his career in the early 1990s at VIP Pharmaceuticals, which Anda acquired in 2000. After serving in senior leadership roles across information technology, sales and operations, he became President of Anda in 2005 and served in that role until his retirement in 2015. During his tenure, the company experienced its most significant period of growth, increasing sales from $700 million to more than $2 billion.
Paonessa emerged from retirement in 2017 to serve as CEO of Cincinnati-based KeySource, a position he held until 2025. Under his leadership, KeySource grew from a company with 30 employees and $33 million in sales to one with 170 employees and $160 million in sales.
Paonessa has been a strong advocate for HDA and the broader healthcare distribution industry. He served on both the HDA and HDA Research Foundation board of directors, helping to guide the association's priorities and support pharmaceutical supply chain research and education while promoting the role and value of distribution. He previously served on the board of directors of Lannett Company, Inc. and has partnered with organizations including the National Community Pharmacists Association, Efficient Collaborative Retail Marketing and the National Association of Chain Drug Stores.
The 2026 Nexus Award for Lifetime Achievement was made possible through the support of Johnson & Johnson and Viatris. For more information, including a list of previous honorees, visit the HDA Research Foundation website.
