Cardinal Health Sales Up 18% in 3Q - Modern Distribution Management

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Cardinal Health Sales Up 18% in 3Q

Year-to-date sales up 10 percent year-over-year.

Cardinal Health (NYSE: CAH), Dublin, OH, reported sales for the third quarter of $25.4 billion, an increase of 18 percent. Profit increased 16 percent to $365 million.

For the first nine months of the fiscal year, sales were $75 billion, a 10 percent increase from the previous year. Profit increased 1 percent to $920 million.

Sales for the pharmaceutical segment increased 20 percent to $22.6 billion and profit increased 25 percent to $567 million.

Sales for the medical segment were up 4 percent to $2.8 billion and profit decreased 8 percent to $102 million.

"During this past quarter, we announced our plan to acquire Cordis, significantly enhancing our scale, product line and capabilities in the cardiovascular area," said CEO George Barrett. "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."

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