Cardinal Health Inc Stock Price, News & Analysis

In a move to boost COVID-19 vaccination rates, four Ohio Managed Care Organizations (MCOs) have partnered with Outcomes, part of Cardinal Health (NYSE: CAH), to utilize local pharmacists for outreach to Medicaid members. The new Needs Immunization service aims to engage over 350,000 eligible participants through personalized consultations, addressing vaccine hesitancy. Pharmacists will connect with members to provide information and, if feasible, administer the vaccine. The initiative reflects the commitment of MCOs to enhance vaccination rates and combat hesitancy in underserved communities.

Cardinal Health (NYSE: CAH) announced the FDA's approval of LYMPHOSEEK® for pediatric use, enhancing lymphatic mapping and sentinel lymph node biopsies in children with solid tumors. This approval allows for improved disease staging in pediatric cancer patients, including those with melanoma and rhabdomyosarcoma. Clinical studies confirm LYMPHOSEEK® is safe for patients aged one month and older, with minimal adverse reactions. This development expands Cardinal Health's radiopharmaceutical offerings and strengthens its position in the precision healthcare market.

Cardinal Health's latest research reveals a growing comfort among oncologists with CAR-T cell therapy, with 60% finding costs reasonable, up from 39% in 2017. The report, based on surveys of 300+ U.S. oncologists, indicates a significant increase in referrals to CAR-T therapy, rising from 54% in 2019 to 91%. Despite these positive changes, challenges remain, including payer approvals and administrative hurdles. The research also highlights the ongoing impact of COVID-19 on cancer screening and the use of telemedicine in oncology.

Cardinal Health (NYSE: CAH) announced an irrevocable early redemption notice for its outstanding notes, totaling $500 million, due June 2022. The affected notes include $237.56 million at a rate of 3.200% and $262.44 million at 2.616%. The redemption date is set for June 15, 2021. The redemption prices will be determined based on specific terms outlined in the indentures, ensuring holders receive the greater of principal or present values of remaining payments. This move reflects Cardinal Health's strategy to manage debt effectively.

Cardinal Health (CAH) reported Q3 FY21 revenue of $39.3 billion, matching last year’s performance. However, GAAP operating earnings fell 16% to $473 million, influenced by a write-down related to the Cordis divestiture. Diluted EPS dropped to $0.40 due to a litigation tax effect. Non-GAAP operating earnings decreased 4% to $689 million, largely from COVID-19 impacts on the Pharmaceutical segment. The company narrowed its fiscal year 2021 EPS guidance to $5.90 to $6.05.

Cardinal Health (NYSE: CAH) has launched Outcomes, a digital ecosystem aimed at improving medication adherence by linking pharmacists, payers, and pharmaceutical companies. This initiative addresses the $528 billion annual cost of medication non-adherence in the U.S., which results in around 275,000 avoidable deaths each year. The Connect platform, part of Outcomes, integrates various existing Cardinal Health services and supports over 60,000 pharmacies and 23 million patients, enhancing clinical workflows and patient engagement.

On April 13, 2021, Cardinal Health (NYSE: CAH) announced it secured a $57.8 million contract with the U.S. Department of Health and Human Services for the storage and distribution of 80,000 pallets of personal protective equipment (PPE). This contract has the potential to reach $91.6 million if all options are exercised. Cardinal Health's extensive distribution network will enable rapid delivery of PPE to healthcare providers across the U.S. in response to ongoing public health emergencies, including the COVID-19 pandemic.

Cardinal Health (NYSE: CAH) has launched Cardinal Health™ Navista™ Tech Solutions (TS), designed to assist community oncologists in enhancing patient care and minimizing costs during the shift to value-based care. This suite includes integrated AI-enabled solutions such as Episode Analytics for cost tracking, CureMD Oncology Cloud for practice management, and CORE™ for population health support. By offering these tools, Cardinal Health aims to improve decision-making, automate processes, and reduce administrative burdens, ultimately driving better patient outcomes and financial performance.

Cardinal Health (NYSE: CAH) will release its financial results for Q3 fiscal year 2021 on May 6, before market opening. A webcast discussing these results will begin at 8:30 a.m. Eastern. The company specializes in distribution of pharmaceuticals and medical products, serving healthcare facilities globally, with operations in over 40 countries and approximately 48,000 employees. Interested parties can access the webcast and presentation on the Investor Relations page.