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Last $84.57 USD
Change Today -1.06 / -1.24%
Volume 2.0M
CAH On Other Exchanges
Symbol
Exchange
New York
Munich
As of 8:04 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

cardinal health inc (CAH) Key Developments

Cardinal Health, Inc. Reports Earnings Results for the Third Quarter of 2015; Revised Earnings Guidance for 2015

Cardinal Health, Inc. reported earnings results for the third quarter of 2015. For the quarter, the company reported revenues of $25.4 billion, an increase of 18%. Non-GAAP diluted EPS was $1.19, up 18% from last year. Non-GAAP operating earnings in the quarter were $656.7 million, which is a 17% growth versus the prior year. The company generated $658 million in operating cash flow for the quarter. Based on the strength of performance year-to-date, the company increasingly confident that it will finish fiscal 2015 in the upper half of full year non-GAAP EPS guidance range of $4.28 to $4.38. The company expecting capital expenditures to come in at about $330 million.

Cardinal Health to Pay $26.8 Million in Federal Trade Commission Settlement

Cardinal Health will pay $26.8 million as part of a settlement with the Federal Trade Commission over charges it monopolized the sale in 25 markets of diagnostic drugs known as low-energy radiopharmaceuticals. The charges allege that the company forced hospitals and clinics to pay inflated prices for the drugs, used to diagnose a range of conditions, including heart disease. The Federal Trade Commission said that Cardinal Health did this by employing various tactics to get both Bristol Myers-Squibb and General Electric Co. to refuse to grant distribution rights for their radiopharmaceuticals used in heart stress tests to potential Cardinal competitors in those 25 markets. Without rights for those agents, competitors' businesses were not financially viable. The settlement money will be placed in a fund that will be distributed to customers who had to pay the inflated prices.

Cardinal Health Agrees to Pay $26.8 Million to Settle Charges It Monopolized 25 Markets for the Sale of Radiopharmaceuticals to Hospitals and Clinics

In its latest action to ensure competition in the nation's healthcare markets, the FTC announced that Cardinal Health, Inc. has agreed to resolve charges that it illegally monopolized 25 local markets for the sale and distribution of low-energy radiopharmaceuticals and forced hospitals and clinics to pay inflated prices for these drugs. The proposed stipulated order requires Cardinal to pay $26.8 million of ill-gotten gains and represents the second large monetary settlement the FTC has obtained in an antitrust case. The money will be deposited into a fund for distribution to injured customers. The order also includes provisions to prevent future violations and restore competition in six markets where Cardinal remains the dominant radiopharmacy. As alleged in the FTC complaint, between 2003 and 2008, Bristol-Myers Squibb and General Electric Co. were the only U.S. manufacturers of heart perfusion agents or HPAs. HPAs are radiopharmaceuticals used to perform heart stress tests, the most common procedure in nuclear medicine. As such, they are key inputs for a financially viable radiopharmacy business. During this time, a radiopharmacy could not profitably enter a new market and compete without obtaining the right to distribute either Cardiolite. According to the FTC's complaint, through separate acquisitions in 2003 and 2004, Cardinal became the large operator of radiopharmacies in the United States and the sole radiopharmacy operator in 25 metropolitan areas. Between 2003 and 2008, Cardinal employed various tactics to coerce and induce both BMS and GE to refuse to grant distribution rights for their respective HPA products to new competitors in the relevant markets.  As described in the complaint, Cardinal's anticompetitive tactics included: Cancelling, and threatening to cancel, Cardinal's current or future purchases of the manufacturers' radiopharmaceutical products; Threatening to switch, and actually switching, customers from BMS's Cardiolite to GE's Myoview in the relevant markets to pressure BMS to abandon plans to license Cardiolite to new competitors; Threatening to compete, and offering to forego competing, against BMS as a generic HPA manufacturer; and Conditioning Cardinal's future relationship with GE in the radiopharmaceutical. Under the proposed stipulated federal court order, Cardinal is required to pay $26.8 million as disgorgement of its ill-gotten gains. In addition, the order bars Cardinal from entering into simultaneous exclusive deals with manufacturers of the same radiopharmaceutical product or from using coercion or retaliation to obtain de facto exclusivity. The order also requires Cardinal to notify the FTC before entering into new exclusive distribution agreements or buying radiopharmacy assets that would not otherwise be subject to the notification requirements of the Hart-Scott Rodino Act.

Cardinal Health, Inc. to Report Q3, 2015 Results on Apr 30, 2015

Cardinal Health, Inc. announced that they will report Q3, 2015 results at 8:30 AM, US Eastern Standard Time on Apr 30, 2015

Cardinal Health, Inc., Q3 2015 Earnings Call, Apr 30, 2015

Cardinal Health, Inc., Q3 2015 Earnings Call, Apr 30, 2015

 

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CAH

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Valuation CAH Industry Range
Price/Earnings 25.0x
Price/Sales 0.3x
Price/Book 4.4x
Price/Cash Flow 20.1x
TEV/Sales 0.2x
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