Cardinal Health Sales Down 5% in 1Q - Modern Distribution Management

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Cardinal Health Sales Down 5% in 1Q

Pharmaceutical declines from expired contracts impacted results.

Cardinal Health Inc. (NYSE: CAH), Dublin, OH, reported sales for the fiscal 2014 first quarter ended September 30 of $24.5 billion, a decrease of 5 percent compared to the same period a year ago. Profit jumped 25 percent to $339 million.

Pharmaceutical segment sales decreased 7 percent year-over-year to $21.8 billion. The decrease in pharmaceutical sales was driven by the expiration of an Express Scripts contract in September 2012 and a Walgreens contract in August.

Medical segment sales grew 13 percent to $2.7 billion. “Our medical segment made excellent  progress on its key priorities – building the portfolio of preferred products, achieving results from efficiency initiatives, growing strategic hospital network accounts and integrating the 2013 acquisition of AssuraMed," George Barrett, CEO, said.

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