tom: you heard from don straszheim, evercore isi. total failure, productivity. don straszheim, gina martin adams, and kim schoenholtz will join us from nyu. ♪ e francine: live pictures from london. i'm sure you can see the prudential building from here. they actually beat estimates. this is "bloomberg surveillance." let's get straight to the bloomberg first word news with taylor. taylor: francine a new poll -- taylor: a new poll shows that hillary clinton has retained most of the balance sheet received from the dnc. when third party candidates are included, her lead shrinks to close to the margin of error. trump postulates of the is roiling the presidential campaign against her the comments came in north carolina where he was talking about gun rights and the supreme court. trump: hillary wants to essentially abolish the second amendment. by the way, if she gets to pick -- if she gets to pick her judges, nothing you can do, folks. the second amendment people, maybe there is. i don't know. taylor: the clinton campaign responded quickly

we're now joined by evercore isi managing partner ross muken joining us on the phone. thank you for joining us. meg walked us through but still kind of confusing. the question i have for you in terms of understanding what the supply chain makes and specifically for instance pharmacy benefit managers, have what they made either in terms of the absolute dollar amount or the percent in gross margin, has that gone up in a commensurate way with drug prices? >> so when we look at the financials of most of the supply cha chain, margins have not expanded and in many cases have contracted over time. not the best way to gauge the economic health of these businesses. you said before sometimes you get the revenue and no profit associated with it. but the reality is this is sort of an unusual example in terms of epipen, for the most part the supply chain's economic profits are just not that high. most of them have gone through government scrutiny before, their margins are relatively thin. and overall, you know, they're reasonably well-run businesses that obviously try to maximize p