Managed regressive company - a drug distributor (5)
I believe the answer is:
narco
'a drug distributor' is the definition.
I don't know anything about this answer so I can't tell whether it can be defined by this definition.
'managed regressive company' is the wordplay.
'managed' becomes 'ran' (both can mean organised or was in charge of).
'regressive' says the letters should be written backwards (to regress is to go backwards).
'company' becomes 'co' (abbreviation).
'ran' backwards is 'nar'.
'nar'+'co'='NARCO'
Can you help me to learn more?
(Other definitions for narco that I've seen before include "Member of US drugs squad" , "Drug trafficker" , "Drugs agent (US slang)" , "American drug agent" .)