Welcome to our dedicated page for Cardinal Health news (Ticker: CAH), a resource for investors and traders seeking the latest updates and insights on Cardinal Health stock.
Cardinal Health, Inc. distributes pharmaceuticals and specialty products and manufactures and distributes medical, laboratory, home-health and direct-to-patient products and services. The company also operates nuclear pharmacies and manufacturing facilities and provides performance and data solutions for healthcare customers.
Recurring company updates cover financial results and fiscal outlooks, dividend actions, share repurchases, debt activity, segment performance in Global Medical Products and Distribution, at-Home Solutions, Nuclear and Precision Health Solutions and OptiFreight Logistics. Other developments include biosimilars and advanced-therapy research reports, Actinium-225 production capacity for radiopharmaceutical applications, and board governance changes.
Cardinal Health (NYSE: CAH) reported a fiscal year 2022 update, projecting an additional $150 million to $175 million hit to Medical segment profits due to ongoing inflation and supply chain constraints. This translates to an estimated $0.40 to $0.45 loss per share in non-GAAP diluted EPS. The company reassured that other financial expectations remain unchanged. Cardinal Health is committed to enhancing its Medical segment through operational simplification and growth investments. A presentation at the J.P. Morgan Healthcare Conference is scheduled for today.
Cardinal Health (NYSE: CAH) will release its second-quarter financial results for fiscal year 2022 on February 3 before the market opens. The company will host a webcast at 8:30 a.m. Eastern to discuss these results. Additionally, CEO Mike Kaufmann is scheduled to present at the 40th Annual J.P. Morgan Healthcare Conference on January 10. The webcast and presentation slides will be accessible on the Investor Relations page until February 2, 2023.
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 org value="NYSE:CAH"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.