Cardinal Health posts 8% growth in Q1
Cardinal Health on Thursday reported its first quarter fiscal year 2019 results, posting revenues of $35.2 billion — an increase of 8% from the same period last year.
For the quarter, GAAP diluted earnings per share increased 439% to $1.94, while non-GAAP diluted EPS increased 18% to $1.29.
“We are pleased that the first quarter provided a solid start to fiscal year 2019,” Cardinal Health CEO Mike Kaufmann said. “Operating performance came in as expected, and we are on track in executing on our strategic initiatives to deliver increased value to our shareholders, our customers and their patients. We look forward to making further strides over the balance of the year and building on Cardinal Health’s essential role in health care.”
First-quarter revenue for theDublin,Ohio-based company’s pharmaceutical segment increased 9% to $31.4 billion, due to sales growth from pharmaceutical distribution and specialty solutions customers, partially offset by the divestiture of the company’s China distribution business, the company said.
Segment profit for the quarter decreased 12% to $409 million, which reflects the negative impact from the company’s generic program performance, according to the company.
First-quarter revenue of the medical segment increased 2% to $3.8 billion, which was driven primarily by new and existing customers, Cardinal Health said.
Claim 2 free vaccination-focused CE courses
Drug Store News has partnered with CE Impact to offer our readers free access to two on-demand CE courses focused on vaccinations — “Protect your patients’ health: How the Entire pharmacy team becomes vaccine advocates” and “Influenza update: Prepare for the 2018-19 flu season.”
The former course is focused on sharing how pharmacy technicians can support vaccine services in the community pharmacy and help protect patient health. The latter will offer a review of various influenza vaccines, pharmacist recommendations and recommendations for overcoming flu vaccine barriers.
Each course offers 1 contact hour of continuing pharmacy education.
To access the courses, please visit CEImpact.com and create an account. In the “Enter Partner Code” field, pharmacists enter code IMZ18P, and technicians enter the code IMZ18T and click apply, then confirm at the bottom of the page. The CPE activities will populate in your To Do folder.
After completing each activity, complete the exam and evaluation, then click submit to send to CPE monitor.
Bristol-Myers Squibb gets FDA green light for Empliciti
Bristol-Myers Squibb Company has received the Food and Drug Administration’s approval for Empliciti (elotuzumab) injection for intravenous use in combination with pomalidomide and dexamethasone for the treatment of adult patients with multiple myeloma who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor.
“Empliciti plus pomalidomide and dexamethasone has been proven to extend the time that certain patients live without disease progression, giving health care professionals an effective new tool to tackle this relentless cancer,” Bristol-Myers Squibb senior vice president and head of medical Joseph Eid said. “Today’s approval reinforces the importance of immuno-oncology in blood cancers and expands the role of Empliciti to address the needs of relapsed or refractory multiple myeloma patients.”
Bristol-Myers Squibb and AbbVie are co-developing Empliciti, with Bristol-Myers Squibb solely responsible for commercial activities.