Oct 31Drug wholesaler Cardinal Health Inc.
on Tuesday reported higher quarterly profits even as
revenue fell as patients converted to generic pharmaceuticals
from higher-priced brand name pharmaceuticals.
Cardinal lost business from pharmacy benefits manager
Express Scripts Holding Co starting at the beginning of
October, but the company reaffirmed its outlook for the coming
It said fiscal first quarter net earnings were $271 million,
or 80 per share, up from $237 million or 69 per share a year
Earnings from continuing operations, excluding one-time
items, were 79 cents a share.