Cardinal Health

Founded in 1971 as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler.{{Cite web|last=Williams|first=Mark|title=Cardinal Health CEO Quietly Builds Powerful Company|url=https://www.theledger.com/article/20030226/News/608096394|access-date=2021-08-16|website=The Ledger|language=en}}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }} After acquiring the Bailey Drug Company in 1979, it began whole selling drugs.{{Cite web|date=2006-10-03|title=THE CARDINAL RULES: GROWTH, AGILITY: CARDINAL CEO ROBERT WALTER HAS USED RELENTLESS DEALMAKING TO BUILD A DIVERSE HEALTHCARE GIANT|url=https://www.modernhealthcare.com/article/19990419/PREMIUM/904190325/the-cardinal-rules-growth-agility-cardinal-ceo-robert-walter-has-used-relentless-dealmaking-to-build-a-diverse-hea|access-date=2021-08-16|website=Modern Healthcare|language=en}} The company went public on the NASDAQ stock exchange in 1983.

In 1988, Walter sold Cardinal Health's food operations to Roundy's.{{cite web| url=http://www.jhconline.com/executive-interview-bob-walter.html| title=Executive Interview: Bob Walter| date=March 2005| publisher=Journal of Healthcare Contracting| access-date=June 10, 2015}} From 1991 to 1996, the company's sales grew from $1.2 billion to $8.9 billion.{{cite web| url=https://www.bloomberg.com/bw/stories/1997-03-02/the-9-billion-company-nobody-knows| title=The $9 Billion Company Nobody Knows| date=March 2, 1997| publisher=Bloomberg Business| access-date=June 10, 2015}} The company changed its name to Cardinal Health in 1994, and became the third-largest pharmaceutical wholesaler in the United States.{{cite book| url=https://books.google.com/books?id=kGQ7N26vJSQC&q=1994+%22Cardinal+Distribution%22+became+Cardinal+Health&pg=PA237| title=Encyclopedia of Business in Today's World: A - C| last=Wankel| first=Charles| date=2009| volume=1| publisher=SAGE Publications| access-date=June 10, 2015| isbn=9781412964272}}

R. Kerry Clark, a former executive and vice chairman at Procter & Gamble, was appointed president and CEO in April 2006, with Robert D. Walter retaining Chairmanship of the board.{{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}} In September 2008, the company announced Clark and Walter would retire and George S. Barrett would become the chairman and CEO.{{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}}{{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}}

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.{{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}}{{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}} Cardinal Health is now traded on the NYSE under symbol CAH.{{cite web|url=https://www.google.com/finance/quote/CAH:NYSE| title=Cardinal Health Inc(NYSE:CAH)}}

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.{{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 }} The venture was named Red Oak Sourcing and began operations in July 2014.{{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}}

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". 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.{{USBill|114|S.|483}}, 114th Cong. (2015).

In January 2018, Michael Kaufmann assumed the role of CEO after serving as CFO of the company.{{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}}

In 2019, Cardinal was one of several drug distributors named in lawsuits related to the opioid crisis in the US.{{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}} In July 2021, Cardinal Health and other pharmaceutical companies agreed to participate in a $26 billion settlement.{{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}} Cardinal will pay $6.4 billion over 18 years.

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, 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."{{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}}

As of August 2021, it is ranked 14 on the Fortune 500 list with FY2020 annual revenue of $152.9 billion.{{Cite web|title=Cardinal Health {{!}} 2021 Fortune 500|url=https://fortune.com/company/cardinal-health/fortune500/|access-date=2021-08-16|website=Fortune|language=en}} The firm employs 48,000 people worldwide.

In 1995, Medicine Shoppe International, the country's largest franchiser of retail pharmacies, was acquired. The merger represented the first non-distribution acquisition by Cardinal Health.

In 1996, Cardinal Health acquired Pyxis Corporation, a company that developed automated pill dispensers for hospitals, for $867 million.{{cite web| url=https://www.nytimes.com/1996/02/08/business/cardinal-deal-to-buy-pyxis-in-stock-swap.html| title=Cardinal Deal To Buy Pyxis In Stock Swap| last=Freudenheim| first=Milt| date=February 8, 1996| work=The New York Times| access-date=June 10, 2015}}

In 1997, Cardinal Health planned to purchase Bergen Brunswig Corp., to which McKesson Corporation responded with a bid to purchase Amerisource.{{Cite web|title=McKesson Plans to Buy Rival AmeriSource|website=Los Angeles Times |date=24 September 1997 |url=https://www.latimes.com/archives/la-xpm-1997-sep-24-fi-35503-story.html|url-status=live|archive-url=https://web.archive.org/web/20121107150755/http://articles.latimes.com/1997/sep/24/business/fi-35503|archive-date=7 November 2012}} Instead, Amerisource and Bergen merged into AmerisourceBergen. Later that year, Cardinal Health completed the acquisition of Owen Healthcare, the second-largest provider of pharmacy management services in the U.S. at the time.{{cite web| url=https://www.nytimes.com/1996/11/28/business/cardinal-health-to-purchase-owen-healthcare.html| title=Cardinal Health to Purchase Owen Healthcare| date=November 28, 1996| work=The New York Times| access-date=June 10, 2015}}

In 1999, the firm acquired the Chicago-based medical products manufacturer and distributor, Allegiance Healthcare (formerly a division of Baxter Healthcare). In 2001, the company acquired Bindley Western Industries, a wholesale distributor of pharmaceuticals based in Indianapolis.{{Cite web|date=15 February 2001|title=Cardinal Health completes Bindley Western acquisition|url=https://www.bizjournals.com/columbus/stories/2001/02/12/daily19.html|url-status=live|access-date=2021-08-16|website=www.bizjournals.com|archive-url=https://web.archive.org/web/20040417115125/http://www.bizjournals.com:80/columbus/stories/2001/02/12/daily19.html |archive-date=2004-04-17 }}

In April 2006, Cardinal Health purchased Niagara Falls-based ParMed Pharmaceuticals for $40.1 million.{{Cite web|last=Staff|title=Cardinal Health buying ParMed for $40.1 million|url=https://buffalonews.com/news/cardinal-health-buying-parmed-for-40-1-million/article_5c89c08b-6a1c-5830-a964-80c613f186eb.html|access-date=2021-08-20|website=The Buffalo News|date=9 March 2006 |language=en}} In June 2007, the firm announced the completion of a tender offer for VIASYS Healthcare.{{cite web| url=http://www.healthcareitnews.com/news/cardinal-health-acquires-viasys-15b| title=Cardinal Health acquires VIASYS for $1.5B| date=May 14, 2007| publisher=Healthcare IT News| access-date=June 10, 2015}}

In June 2010, Cardinal Health announced plans to purchase Healthcare Solutions Holding, a specialty pharmaceutical services company, for $517 million.{{cite web| url=http://www.dailyfinance.com/2010/06/09/cardinal-health-buys-healthcare-solutions/| title=Cardinal Health Pays $517 Million for Obscure Specialty Pharma Firm| last=Taulli| first=Tom| date=June 9, 2010| publisher=Daily Finance| access-date=June 10, 2015}} In December 2010, the company acquired Kinray, an independent pharmaceutical wholesaler, increasing Cardinal Health's presence in the independent pharmacy market by 40 percent.Dinah Wisenberg Brin, [https://www.wsj.com/articles/SB10001424052748704104104575622363175617190 "Cardinal Health to Purchase Kinray"], The Wall Street Journal, November 19, 2010 From 2010 to 2014, Cardinal Health acquired 18 companies including Yong Yu, a Chinese drug distributor.{{Cite web|last=Glenn|first=Brandon|date=2010-11-29|title=Cardinal Health buys Chinese drug distributor for $470 million|url=https://medcitynews.com/2010/11/cardinal-health-buys-chinese-pharmaceuticals-distributor-for-470m/|access-date=2021-08-20|website=MedCity News|language=en-US}} Cardinal sold Yong Yu in 2017 to Shanghai Pharmaceuticals Holding Co. Ltd. for $1.2 billion.{{Cite web|title=Cardinal Health sells China business for $1.2B|url=https://www.bizjournals.com/columbus/news/2017/11/15/cardinal-health-sells-china-business-for-1-2.html|url-status=live|access-date=2021-08-20|website=www.bizjournals.com|archive-url=https://web.archive.org/web/20220116082737/https://www.bizjournals.com/columbus/news/2017/11/15/cardinal-health-sells-china-business-for-1-2.html |archive-date=2022-01-16 }}

In July 2014, Cardinal Health and CVS formed Red Oak Sourcing, the largest generic drug sourcing operation in the United States.{{Cite web|title=Cardinal, CVS to form venture for generics|url=https://www.dispatch.com/article/20131210/NEWS/312109768|url-status=live|access-date=2021-08-20|website=The Columbus Dispatch|language=en|archive-url=https://web.archive.org/web/20210820142753/https://www.dispatch.com/article/20131210/NEWS/312109768 |archive-date=2021-08-20 }} The companies started buying generic drugs around the world to sell in U.S. markets.

In March 2015, Cardinal Health signed an agreement to acquire Johnson & Johnson's Cordis (medical) division, a cardiology and endovascular device manufacturer, for $1.94 billion.{{cite web| url=http://www.dispatch.com/content/stories/business/2015/03/02/cardinal-health-buys-cordis.html| title=Cardinal Health to acquire Cordis for $1.9 billion| last=Wartenberg| first=Steve| date=March 3, 2015| publisher=The Columbus Dispatch| access-date=June 10, 2015}}{{cite web| url=http://www.foxbusiness.com/industries/2015/03/02/cardinal-health-to-buy-jj-heart-business-for-14b/| title=Cardinal Health to Buy J&J's Heart Business for $1.94B| date=March 2, 2015| publisher=Fox Business| access-date=June 10, 2015| archive-url=https://web.archive.org/web/20150611203318/http://www.foxbusiness.com/industries/2015/03/02/cardinal-health-to-buy-jj-heart-business-for-14b/| archive-date=June 11, 2015| url-status=dead}} The acquisition was completed on October 4, 2015.{{cite press release|url=http://www.prnewswire.com/news-releases/cardinal-health-completes-acquisition-of-cordis-300153418.html#|title=Cardinal Health Completes Acquisition Of Cordis|first=Cardinal|last=Health|website=www.prnewswire.com|access-date=14 April 2018}} Cardinal sold the division in August 2021 to Hellman & Friedman, a private equity firm, for $1 billion.{{Cite web|title=Cardinal Health to sell off its Cordis device division in $1B deal|url=https://www.fiercebiotech.com/medtech/cardinal-health-to-divest-its-cordis-device-division-1b-deal|access-date=2021-08-20|website=FierceBiotech|date=15 March 2021 |language=en}}

In April 2017, Cardinal Health announced the plan to acquire the patient product portfolio from Medtronic for $6.1 billion.{{Cite web|date=2017-04-18|title=Cardinal Health to acquire Medtronic medical supplies business for $6.1B|url=https://www.modernhealthcare.com/article/20170418/NEWS/170419874/cardinal-health-to-acquire-medtronic-medical-supplies-business-for-6-1b|access-date=2021-08-20|website=Modern Healthcare|language=en}}{{Cite web|title=Medtronic closes on $6.1 billion sale of supply lines to Cardinal Health|url=https://www.startribune.com/medtronic-closes-on-6-1-billion-sale-of-supply-lines-to-cardinal-health/437690263/|access-date=2021-08-20|website=Star Tribune|date=August 2017 }} The acquisition was completed on July 30, 2017.

In November 2024, Cardinal Health announced the plan to acquire Advanced Diabetes Supply Group (ADSG), a leading national direct-to-patient provider of diabetes medical supplies, for about $1.1 billion with plans to merge the company into its at-Home Solutions business.{{Cite web|title=In brief: Cardinal Health to buy ADS, AMA fights prior auths, Williams Brothers names CEO|url=https://www.hmenews.com/article/in-brief-cardinal-health-to-buy-ads-ama-fights-prior-auths-williams-brothers-names-ceo|access-date=2025-04-08|website=NHM News}}{{Cite press release|title=Cardinal Health announces two strategic additions to its portfolio|url=https://www.prnewswire.com/news-releases/cardinal-health-announces-two-strategic-additions-to-its-portfolio-302301928.html|access-date=2025-04-08|website=PR Newswire}} The acquisition was complete by April 2024. {{Cite web|title=Cardinal Health completes acquisition of the Advanced Diabetes Supply Group (ADSG)|url=https://newsroom.cardinalhealth.com/2025-04-01-Cardinal-Health-completes-acquisition-of-the-Advanced-Diabetes-Supply-Group-ADSG|access-date=2025-04-08|website=Cardinal Health Newsroom}}

Multiple legal settlements have demonstrated Cardinal Health's role in the US Opioid epidemic, though the company never admitted wrongdoing:

• December 2016: Cardinal Health settled for $44 million for violations of the Controlled Substances Act brought in allegations from United States Attorneys in districts from Maryland, New York, Florida and Washington.{{Cite web |date=2016-12-23 |title=District of Maryland {{!}} Cardinal Health Agrees to $44 Million Settlement for Alleged Violations of Controlled Substances Act {{!}} United States Department of Justice |url=https://www.justice.gov/usao-md/pr/cardinal-health-agrees-44-million-settlement-alleged-violations-controlled-substances-act |access-date=2024-11-04 |website=www.justice.gov |language=en}}
• July 2021: Cardinal Health agreed to pay $6.4 billion to settle thousands of US lawsuits. They were one of four companies to pay $26 billion, including Johnson & Johnson, AmerisourceBergen and McKesson.{{Cite news |last=Mann |first=Brian |date=February 25, 2022 |title=4 U.S. companies will pay $26 billion to settle claims they fueled the opioid crisis |url=https://www.npr.org/2022/02/25/1082901958/opioid-settlement-johnson-26-billion |access-date=November 4, 2024 |work=NPR}}
• May 2022: Settled a derivative suit on behalf of shareholders for $124 million.{{Cite web |last=LaCroix |first=Kevin |date=2022-05-30 |title=Cardinal Health Opioid-Related Derivative Suit Settled for $124 Million |url=https://www.dandodiary.com/2022/05/articles/shareholders-derivative-litigation/cardinal-health-opioid-related-derivative-suit-settled-for-124-million/ |access-date=2024-11-04 |website=The D&O Diary |language=en-US}}
• August 2024: Settlement with various health plans including insurers and third-party payers for $92.7 million.{{Cite news |last=Raymond |first=Nate |date=August 30, 2024 |title=Drug distributors strike $300 mln opioid settlement with US health plans |url=https://www.reuters.com/business/healthcare-pharmaceuticals/drug-distributors-strike-300-mln-opioid-settlement-with-us-health-plans-2024-08-30/ |access-date=November 4, 2024 |work=Reuters}}
• August 2024: Settlement with the City of Baltimore for $152.5 million.{{Cite web |date=2024-08-16 |title=City of Baltimore Reaches $152.5 Million Deal with Cardinal Health to Resolve Ongoing Opioid Litigation |url=https://mayor.baltimorecity.gov/news/press-releases/2024-08-16-city-baltimore-reaches-1525-million-deal-cardinal-health-resolve |access-date=2024-11-04 |website=Mayor Brandon M. Scott |language=en}}

In September 2004, Cardinal Health announced plans to restate past results for fiscal 2001, 2002, 2003, and the first three quarters of 2004 downward, after an accounting review and an ongoing federal investigation. In 2005, in connection with the Audit Committee's conclusions reached in September and October 2004, the company made certain reclassification and restatement adjustments to its fiscal 2004 and prior historical consolidated financial statements.{{cite web|url=http://www.getfilings.com/o0000950152-05-004156.html| title=CARDINAL HEALTH INC - 10-Q Quarterly Report }} According to The Wall Street Journal, "Analysts called the restatement decision troubling, yet limited in scope."{{cite web

| url =https://www.wsj.com/articles/SB109512255085516946

| title =Cardinal Health to Restate Net, Citing Bulk-Revenue Accounting

| last =Burton

| first =Thomas M.

| date =September 14, 2004

| website =The Wall Street Journal

| access-date =May 17, 2016

}}

In August 2006, Cardinal Health ceased production of its Alaris SE infusion pump after approximately 1300 units were seized{{Why|date=May 2022}} by the United States Food and Drug Administration (FDA).{{cite web |url=http://cardinalhealth.mediaroom.com/newsreleasearchive?item=122451 |title=Cardinal Health Suspends Production of Alaris SE Infusion Pump Following FDA Actions |publisher=Cardinal Health |date=August 28, 2006 |access-date=June 13, 2018 |archive-date=April 18, 2021 |archive-url=https://web.archive.org/web/20210418145851/https://cardinalhealth.mediaroom.com/newsreleasearchive?item=122451 |url-status=dead }} In February 2007, Cardinal Health signed a consent decree with the FDA which promised procedures to guarantee the safety of the Alaris SE. After FDA inspections, Cardinal Health entered into a further consent agreement with the FDA in 2009.

{{see also|Drug diversion}}

In 2008, Cardinal Health agreed to pay $34 million in civil penalties to settle DEA allegations that it failed to report suspicious orders of hydrocodone. The fine followed a 10-month DEA suspension of a Lakeland, Florida distribution facility and two others in New Jersey and Washington.{{cite news|last=Schoenberg |first=Tom |url=https://www.bloomberg.com/news/2012-02-29/cardinal-health-blocked-from-shipping-painkiller-in-florida-1-.html |title=Cardinal Health Blocked From Shipping Painkiller in Florida |publisher=Bloomberg |date=2012-02-29 |access-date=2012-09-01}} On February 2, 2012, the Drug Enforcement Administration again suspended the license of the firm's Lakeland distribution center to distribute controlled substances on charges that it had allowed four Florida pharmacies to purchase excessive amounts of controlled substances, in particular oxycodone.Donna Leinwand Leger "DEA aims big in Cardinal Health painkiller case" USA Today Feb 27, 2012 [https://www.usatoday.com/news/nation/story/2012-02-27/painkiller-abuse-DEA/53275844/1]

Cardinal Health obtained a restraining order against the suspension, but the suspension was upheld on February 29 by a Federal district court because the court agreed with the DEA that Cardinal Health's activities represented an "imminent danger to the public."Donna Leinwand Leger "Judge blocks Cardinal Health drug shipments in Fla." USA Today Deb 29, 2012 [https://www.usatoday.com/news/nation/story/2012-02-29/cardinal-health-painkillers-florida/53307498/1] The company stated that it blocked two of the pharmacies, (Brooks Pharmacy in Bonita Springs, Florida, and Gulf Coast Medical in Panama City, Florida), and notified the corporate owners of the two pharmacies that were part of national chains, two CVS stores in Sanford, Florida.

In February 2012, Joseph Rannazzisi, chief of the Drug Enforcement Administration’s Office of Diversion Control, issued immediate suspension orders against Cardinal's supply of oxycodone to suspected pill mills.{{cite news|last1=Lenny Bernstein|last2=Scott Higham|title=Investigation: The DEA slowed enforcement while the opioid epidemic grew out of control|url=https://www.washingtonpost.com/investigations/the-dea-slowed-enforcement-while-the-opioid-epidemic-grew-out-of-control/2016/10/22/aea2bf8e-7f71-11e6-8d13-d7c704ef9fd9_story.html|access-date=17 March 2017|newspaper=The Washington Post|date=22 October 2016|author2-link=Scott Higham}} These orders were filed after Deputy Attorney General James M. Cole met with Rannazzisi to ask if he had met with Cardinal about the investigation. Cole stated that he believed “it made good sense to listen to what Cardinal had to say” regarding the investigation. That year, Cardinal and the DEA reached a settlement that suspended Cardinal's facility in Lakeland, Florida from selling pain killers or other drugs for two years.{{Cite news|last=Raymond|first=Nate|date=2016-12-23|title=Cardinal settles with U.S. over painkiller shipments to pharmacies|language=en|work=Reuters|url=https://www.reuters.com/article/us-cardinal-health-lawsuit-idUSKBN14C1ID|access-date=2021-08-20}} In 2016, Cardinal was fined $44 million for after the investigation concluded.{{cite web|url=http://ir.cardinalhealth.com/news/press-release-details/2016/CARDINAL-HEALTH-ANNOUNCES-CIVIL-SETTLEMENT-WITH-DOJ/default.aspx|title=Cardinal Health Announces Civil Settlement with DOJ|website=ir.cardinalhealth.com|access-date=14 April 2018}}

In January 2022, Cardinal Health, Johnson & Johnson, McKesson, and AmerisourceBergen agreed to pay $26 billion to settle with all but five of the states suing them.{{Cite news|last=Raymond|first=Nate|date=2022-01-27|title=Most U.S. local governments opt to join $26 bln opioid settlement|language=en|work=Reuters|url=https://www.reuters.com/world/us/most-us-local-governments-opt-join-26-bln-opioid-settlement-2022-01-26/|access-date=2022-02-21}} Had the states gone to court, the companies could have faced up to $95 billion in penalties.{{Cite news|last=Raymond|first=Nate|date=2021-11-16|title=Washington state, in $95 billion opioid trial, blames drug distributors for crisis|language=en|work=Reuters|url=https://www.reuters.com/world/us/mckesson-drug-distributors-face-95-billion-opioid-trial-washington-state-2021-11-15/|access-date=2022-02-21}}

Annual financial statistics are displayed below:

The Cardinal Health Foundation is the charitable arm of Cardinal Health. The company makes annual product donations of over $9 million through international relief organizations and provides up to $1,000 in matching funds for every Cardinal Health employee that makes a charitable donation.{{cite web|url=http://www.bizjournals.com/columbus/news/2011/04/13/benefactor-of-the-year-cardinal.html?page=all| title=Benefactor of the Year: Cardinal Health Inc.| last=Dutton| first=Melissa Kossler| date=April 13, 2011| publisher=Columbus Business First| access-date=June 10, 2015}} In 2008, the foundation established its E3 Grant Program.{{cite web| url=http://www.healthcarefinancenews.com/press-release/cardinal-health-foundation-invites-healthcare-providers-apply-grants-improve-patient-s| title=Cardinal Health Foundation invites healthcare providers to apply for grants to improve patient safety, efficiency| date=October 13, 2011| publisher=Healthcare Finance| access-date=June 10, 2015}} Over the past seven years, the Foundation has invested more than $7.15 million in funding to 241 hospitals, health systems or other health-related organizations.{{cite web|url=https://www.google.com/finance/quote/CAH:NYSE?fstype=ii |title=Financial Statements for Cardinal Health, Inc. - Google Finance |access-date=October 25, 2016}}

Cardinal Health also supports organizations such as Ronald McDonald House Charities, and was named Benefactor of the Year at the 2011 Corporate Caring Awards. In 2015, the foundation contributed $3 million to the Solutions for Patient Safety project, which has raised over $11 million nationally for efforts to improve safety initiatives in children's hospitals.{{cite web| url=http://www.dispatch.com/content/stories/local/2015/02/11/hospital-safety-initiative-helps-ohio-kids.html| title=Hospital safety initiative helps Ohio kids| last=Sutherly| first=Ben| date=February 11, 2015| publisher=The Columbus Dispatch| access-date=June 10, 2015}}

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• {{Official website|https://www.cardinalhealth.com}}

{{Finance links

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