Health
Cardinal Health Falls After Optum Rx Distribution Contract Ended
Cardinal Health Inc. headquarters in Dublin, Ohio.
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Cardinal Health Inc. shares fell the most in more than two months after the drug distributor lost a big contract with UnitedHealth Group Inc.’s pharmacy benefits subsidiary.
The drug distribution contract with Optum Rx expires in June and won’t be renewed, Cardinal said Monday in a statement. Cardinal affirmed its fiscal 2024 adjusted earnings forecast of $7.20 to $7.35 a share.