Cardinal Health (NYSE: CAH) reported fourth-quarter adjusted earnings today that were only two-thirds of what The Street expected.
The Dublin, Ohio–based health care services company’s stock was down more than –13% to $51.04 apiece in morning trading. Our sister site MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.
State and local opioid lawsuits resulted in $149 million in pre-tax charges in Q4; it was $1.17 billion for the full year. The Pharmaceutical segment’s profit was about the same year-over-year, at $358 million. Sales grew 15% to $38.3 billion.