Cardinal Health, Inc. (NYSE: CAH), Dublin, OH, reported sales for the second quarter ended Dec. 31, 2012, of $25.2 billion, an increase of 7 percent compared to the same period a year ago. Profit increased 16 percent to $303 million.
Revenue for the Pharmaceutical segment decreased 8 percent to $22.7 billion due to the previously announced non-renewal of the Express Scripts contract as well as expected conversions from branded pharmaceuticals to lower-priced generics.
Revenue for the Medical segment increased 3 percent to $2.5 billion, reflecting the benefits of last year's acquisition of FutureMed and one additional sales day year-on-year.
For the first six months, sales were $51.1 billion, a 5 percent decline from the prior year. Profit increased 15 percent to $575 million.