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CORRECT: Cardinal Health Protests DEA Suspension For Florida Facility

("Cardinal Health Protests DEA Suspension For Florida Facility," at 11:57 a.m. EST, misstated the name of the government agency in the first paragraph. The correct version follows:) By Jon Kamp Of DOW JONES NEWSWIRES Cardinal Health Inc. (CAH) said Friday that the Drug Enforcement Administration has suspended the drug wholesaler's license to distribute controlled medicines such as pain drugs from a Florida facility, but that the company is asking a federal court to block the DEA's efforts. The agency alleges four of Cardinal's retail pharmacy customers dispensed controlled substances based on prescriptions that were not issued for legitimate purposes, according to a Cardinal press release. The order also alleges that the company failed to conduct "meaningful due diligence" to stop this from happening, the company said. Cardinal defended its "robust controls," however, and said the DEA's actions would disrupt drug shipments to more than 2,500 pharmacy customers in Florida, Georgia and South Carolina. A company spokeswoman said the controlled medicines at issue include drugs used to treat epilepsy, severe pain and sleep disorders. Shares of the Dublin, Ohio, firm recently traded down 1.3% to $41.66. The DEA's license suspension affects Cardinal's Lakeland, Fla., facility. The company is asking the U.S. District Court for the District of Columbia to intervene. "We strongly disagree with the allegations the DEA has made against our Lakeland facility and intend to vigorously challenge this action," Cardinal Chief Executive George Barrett said in the release. Cardinal noted that over the past four years, it has stopped shipping controlled medicines to more than 350 pharmacies while reporting them to the DEA. This includes 160 pharmacies in Florida. -By Jon Kamp, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

Stock News for Cardinal Health (CAH)
DateTimeHeadline
05/02/201308:20:07Cardinal Health Profit Rose 3.6%; Dividend Raised
05/02/201308:00:12Cardinal Health Third-Quarter Profit Rose 3.6%; Dividend Raised
04/25/201308:21:03Cardinal, McKesson Renew Distribution Agreements With CVS
03/19/201309:25:51U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
02/19/201315:30:09Cardinal Health Borrows $1.3 Billion for AssuraMed Buy
02/19/201315:14:18Cardinal Health Borrowing $1.3 Billion to Acquire AssuraMed
02/14/201308:40:07Cardinal Health to Buy AssuraMed for $2.07 Billion
02/14/201308:23:17Cardinal Health to Buy Medical-Supplies Provider AssuraMed for...
02/05/201308:40:22Cardinal Health Profit Up 16% on Improved Margins
02/05/201308:30:05Cardinal Health 2nd-Quarter Profit Up 16% on Improved Margins
01/30/201319:44:24CORRECT: Cardinal Health Sees $79 Million in Costs From Production...
01/30/201318:37:32Cardinal Health Sees $79 Million in Costs from Production Move
01/30/201309:49:57AmerisourceBergen Signs New Deal With Big Customer PharMerica
12/19/201214:00:25Glaxo in $150 Million Settlement in Generic Nasal Spray Case
12/19/201213:45:34GlaxoSmithKline in $150 Million Settlement in Generic Nasal Spray...
11/09/201209:23:14Cardinal Health: DOJ Requested Documents on Customer Discounts
11/06/201214:11:34Fitch Lowers Outlook for Cardinal Health to Stable on Growth...
10/31/201211:14:28Correction to Tuesday's Cardinal Health Earnings Story
10/30/201211:43:02Cardinal Health's 1st-Quarter Profit Up 14% on Lower Costs; Unveils...
10/04/201209:07:48McKesson Renews Drug-Supply Deal With Large Customer Rite Aid

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