The U.S. Department of Justice announced that Cardinal Health (NYSE:CAH) agreed to pay more than $13 million to resolve kickback allegations. Allegations against Dublin, Ohio-based Cardinal Health include a violation of the False Claims Act by paying “upfront discounts” to its physician practice customers in violation of the Anti-Kickback Statute. The Anti-Kickback Statute prevents pharmaceutical…
Johnson & Johnson reaches opioid settlement with Colorado and Nevada
Johnson & Johnson (NYSE:JNJ) has reached a settlement agreement with Colorado and Nevada to put opioid-related allegations there to bed. Colorado will receive $385 million from Johnson & Johnson and the drug distributors McKesson (NYSE:MCK), AmerisourceBergen (NYSE: ABC) and Cardinal Health (NYSE:CAH). Nevada will receive nearly $285.2 million as part of the overall settlement, which is earmarked…
Cardinal Health docks executive bonuses over opioid costs
Cardinal Health’s board of directors reduced bonus payouts for CEO Mike Kaufmann and his four top-paid executives due to the cost of opioid litigation. After pressure from investors, Cardinal Health (NYSE:CAH) for the first time has disclosed how its board of directors factored the opioid litigation settlement costs into the pay packages of Kaufmann, Chief…
Cardinal Health expands pharmaceutical distribution contracts with CVS Health
Cardinal Health (NYSE:CAH) announced that it extended agreements with CVS Health over pharmaceutical distribution. The agreements for the distribution of pharmaceuticals to retail pharmacies and distribution centers run through June 30, 2027, according to a news release. “We value our long-standing partnership with CVS Health, and we are honored to continue our important work together…
Cardinal Health stock down after Q4 earnings disappoint The Street
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…