Open main menu
Home
Random
Recent changes
Special pages
Community portal
Preferences
About Wikipedia
Disclaimers
Incubator escapee wiki
Search
User menu
Talk
Dark mode
Contributions
Create account
Log in
Editing
Cardinal Health
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
=== 2000β2019 === R. Kerry Clark, a former executive and vice chairman at [[Procter & Gamble]], was appointed president and [[Chief executive officer|CEO]] in April 2006, with Robert D. Walter retaining Chairmanship of the board.<ref>{{cite web| url=http://www.bizjournals.com/columbus/stories/2006/04/17/daily4.html| title=Walter steps down at Cardinal Health, P&G exec takes over| date=April 17, 2006| publisher=Columbus Business First| access-date=June 10, 2015}}</ref> In September 2008, the company announced Clark and Walter would retire and [[George S. Barrett]] would become the chairman and CEO.<ref>{{cite web| url=http://www.bizjournals.com/columbus/stories/2008/10/06/story6.html?page=all| title=Next Cardinal Health CEO sees bright future after spinoff| last=Ghose| first=Carrie| date=October 6, 2008| publisher=Columbus Business First| access-date=June 10, 2015}}</ref><ref>{{cite web| url=http://www.dispatch.com/content/stories/business/2013/05/19/outside-the-box.html| title=Cardinal Health's CEO uses background to think outside the box| last=Wartenberg| first=Steve| date=May 19, 2013| publisher=The Columbus Dispatch| access-date=June 10, 2015}}</ref> In 2009, Cardinal Health completed the spin-off of its clinical and medical products businesses into an independent medical technology company called [[CareFusion]] with David Schlotterbeck as CEO.<ref name="spinoff">{{cite web |url=http://www.healthcareitnews.com/news/cardinal-health-name-spinoff-after-carefusion-line-announces-amended-consent-decree |title=Cardinal Health to name spinoff after CareFusion line |newspaper=Healthcare IT News |date=February 18, 2009 |access-date=June 13, 2018}}</ref><ref>{{cite web| url=http://www.modernhealthcare.com/article/20090902/NEWS/309029953/hits-brief3-cardinal-health-completes-carefusion-spinoff%26template=emailart| title=Cardinal Health completes CareFusion spinoff| last=Rhea| first=Shawn| date=September 2, 2009| publisher=Modern Healthcare| access-date=June 10, 2015}}</ref> Cardinal Health is now traded on the [[NYSE]] under symbol CAH.<ref>{{cite web|url=https://www.google.com/finance/quote/CAH:NYSE| title=Cardinal Health Inc(NYSE:CAH)}}</ref> In December 2013, it was announced that Cardinal Health would partner with [[CVS Caremark]] to form a generic drug sourcing operation in the United States.<ref name="cvs">{{cite news | url=https://www.reuters.com/article/us-cvs-cardinalhealth-idUSBRE9B90VB20131210 | title=CVS, Cardinal Health form U.S. generic drug venture | work=[[Reuters]] | date=10 December 2013 | access-date=11 December 2013 | author=Berkrot, Bill | archive-date=10 December 2013 | archive-url=https://web.archive.org/web/20131210225010/http://www.reuters.com/article/2013/12/10/us-cvs-cardinalhealth-idUSBRE9B90VB20131210 | url-status=live }}</ref> The venture was named Red Oak Sourcing and began operations in July 2014.<ref name="redoak">{{cite journal |url=https://www.bizjournals.com/columbus/blog/2014/05/cardinal-health-cvs-generics-venture-red-oak-on.html |title=Cardinal Health, CVS generics venture Red Oak on track for July start |journal=[[Columbus Business First]] |last=Ghose |first=Carrie |date=May 1, 2014 |access-date=June 13, 2018}}</ref> Between 2014 and 2016, Cardinal, alongside [[McKesson Corporation]], and [[AmerisourceBergen]], spent $13 million lobbying Congress to pass Congressman [[Tom Marino]]'s "Ensuring Patient Access and Effective Drug Enforcement Act".<ref name="WashPo16" /> The bill, which increases the burden of proof enforcers need to show against drug distributors, was signed into law by President [[Barack Obama]] in April 2016.<ref>{{USBill|114|S.|483}}, 114th Cong. (2015).</ref> In January 2018, Michael Kaufmann assumed the role of CEO after serving as CFO of the company.<ref>{{Cite web|last=Rose|first=Marla Matzer|title=Cardinal Health's CEO Mike Kaufmann is a steady hand in his new role|url=https://www.dispatch.com/news/20180916/cardinal-healths-ceo-mike-kaufmann-is-steady-hand-in-his-new-role|access-date=2021-08-16|website=The Columbus Dispatch|language=en|archive-date=2021-08-16|archive-url=https://web.archive.org/web/20210816180004/https://www.dispatch.com/news/20180916/cardinal-healths-ceo-mike-kaufmann-is-steady-hand-in-his-new-role|url-status=dead}}</ref> ==== Opioid lawsuits ==== In 2019, Cardinal was one of several drug distributors named in lawsuits related to the [[Opioid epidemic in the United States|opioid crisis in the US]].<ref>{{Cite news|last1=Hakim|first1=Danny|last2=Rashbaum|first2=William K.|last3=Rabin|first3=Roni Caryn|date=2019-04-22|title=The Giants at the Heart of the Opioid Crisis|language=en-US|work=The New York Times|url=https://www.nytimes.com/2019/04/22/health/opioids-lawsuits-distributors.html|access-date=2021-08-20|issn=0362-4331}}</ref> In July 2021, Cardinal Health and other pharmaceutical companies agreed to participate in a $26 billion settlement.<ref name=":4">{{Cite web|last=Williams|first=Mark|title=Cardinal Health to take $140 million charge tied to opioid settlement|url=https://www.dispatch.com/story/business/2021/07/22/cardinal-health-pay-6-4-billion-part-opioid-settlement/8053626002/|access-date=2021-08-20|website=The Columbus Dispatch|language=en-US}}</ref> Cardinal will pay $6.4 billion over 18 years.<ref name=":4" /> In May 2020, Oklahoma Attorney General Mike Hunter sued Cardinal Health in Bryan County District Court, Oklahoma. The lawsuit alleged that he company's actions helped fuel Oklahoma's opioid crisis. The suit was filed along with lawsuits against [[AmerisourceBergen]] and [[McKesson Corporation|McKesson]], and the three lawsuits allege that the three companies provided "enough opioids to Bryan County that every adult resident there could have had 144 hydrocodone tablets."<ref>{{Cite web|last=Carey|first=Liz|date=2020-05-05|title=Oklahoma Attorney General refiles opioid lawsuit against three distributors|url=https://healthcrisisalert.com/news/20641-oklahoma-attorney-general-refiles-opioid-lawsuit-against-three-distributors/|access-date=2020-05-05|website=Health Crisis Alert|language=en-US}}</ref>
Edit summary
(Briefly describe your changes)
By publishing changes, you agree to the
Terms of Use
, and you irrevocably agree to release your contribution under the
CC BY-SA 4.0 License
and the
GFDL
. You agree that a hyperlink or URL is sufficient attribution under the Creative Commons license.
Cancel
Editing help
(opens in new window)