Improved generic sourcing drives Cardinal Health revenues up 18%

DUBLIN, Ohio — Cardinal Health on Thursday posted $25.4 billion in third-quarter revenue, up 18%. 

 

"We're pleased to report strong overall results for the third quarter while continuing to make the moves to lead and create value in today's dynamic healthcare environment," stated George Barrett, chairman and CEO Cardinal Health. "During this past quarter, we announced our plan to acquire Cordis, significantly enhancing our scale, product line and capabilities in the cardiovascular area. This move aligns squarely with our strategy around physician preference items. Further, our recent acquisition of the specialty distribution business of Metro Medical expands our scale in specialty pharma and extends our reach into additional therapeutic areas."

 

Revenue for the Pharmaceutical segment increased 20% to $22.6 billion due to growth from existing and new customers. Segment profit increased 25% to $567 million, driven by strong performance under the company's generics program, which includes the net benefit of Red Oak Sourcing as well as the growth from existing and new customers.