Cardinal Health Inc Stock Price, News & Analysis

AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK) have extended the deadline for political subdivisions to join the proposed opioid settlement from January 2, 2022, to January 26, 2022. New Mexico confirmed its participation, raising total states in the settlement to 43, covering all U.S. territories and Washington, D.C. The deadline to assess sufficient participation has also been moved from February 1, 2022, to February 25, 2022. The companies aim to expedite relief to affected communities and remain committed to addressing the opioid crisis.

Cardinal Health has announced the launch of WaveMark™ Supply Management and Workflow Solutions for clinical labs across the U.S. This solution aims to automate inventory tracking, thereby easing workforce strain and improving operational efficiency. It enables faster test result delivery, crucial for timely diagnoses and treatments. WaveMark is designed to save staff time with automated alerts for inventory needs and product recalls. Currently, it is utilized in over 2,500 operating rooms in more than 300 hospitals. More details can be found on Cardinal Health's website.

Cardinal Health (NYSE: CAH) reported Q1 FY22 revenues of $44.0 billion, a 13% increase year-over-year. GAAP operating earnings were $415 million, contrasting with a $624 million loss in the prior year. However, non-GAAP operating earnings decreased 15% to $527 million. The Medical segment saw a 46% decline in profit due to rising supply chain costs. The company reaffirmed its full-year non-GAAP EPS guidance of $5.60 to $5.90, despite updated expectations for a decline in Medical segment profit.

Cardinal Health (NYSE: CAH) has announced a quarterly dividend of $0.4908 per share, set to be paid on January 15, 2022. Shareholders must be on record by the close of business on January 3, 2022 to receive this payment. This decision reflects the company’s commitment to returning value to its shareholders.

Cardinal Health emphasizes the significance of biosimilars in enhancing healthcare access during the second annual Global Biosimilars Week. Biosimilars, which are FDA-approved treatments that mirror biologics, play a vital role in reducing U.S. drug costs, projected to save $133 billion by 2025. Currently, there are 31 FDA-approved biosimilars in the U.S., with 20 available in the market, primarily targeting cancer and autoimmune diseases. Their anticipated entry into diabetes and ophthalmology markets promises lower treatment costs for millions of patients. Cardinal Health's leadership in the biosimilars sector aims to foster competition and innovation.

Suzanne Foster, president of Cardinal Health at-Home, joins Exo's board of directors following a successful $220 million Series C funding round. With her extensive experience in healthcare and medical devices, Foster is expected to enhance Exo's commercialization efforts, particularly as it launches innovative handheld ultrasound devices. Exo aims to improve healthcare accessibility and real-time diagnostics. Additionally, Exo has expanded its executive team with key leadership appointments to support its growth.

Cardinal Health (NYSE: CAH) has secured a $750,000 contract from the FDA for an 18-month study examining real-world evidence (RWE) in lymphoma treatment. The study, titled 'Assessment of a Novel Methodology for Endpoints Assessing Response to Lymphoma Treatment in Real-World Studies,' aims to compare real-world data (RWD) with central review standards in clinical trials. This initiative supports the FDA's increasing focus on RWE following the 21st Century Cures Act and seeks to improve patient outcomes through enhanced regulatory decision-making.

Cardinal Health (NYSE: CAH) announced a new range of cancer screening options in collaboration with FUJIFILM Healthcare and Polymedco. These options aim to address the significant decline in cancer screenings caused by the pandemic, which saw nearly 10 million screenings missed in the U.S. alone. The company now offers at-home testing for colon cancer, reducing barriers to early detection. Additionally, it provides solutions for liver cancer surveillance, critical for at-risk patients. Cardinal Health emphasizes the importance of accessible diagnostics to improve healthcare outcomes.

Journey Biosciences announced a collaboration with Cardinal Health's OptiFreight® Logistics to enhance kidney disease diagnostics for diabetes patients. This partnership aims to deliver the innovative NaviDKD diagnostic screening technology to healthcare providers, facilitating proactive management of Diabetic Kidney Disease (DKD). The deal focuses on improving logistics management, which is critical for timely diagnostics. Journey Biosciences seeks to transform diabetes care from reactive to proactive, emphasizing early detection and risk reduction.