ADVFN - Advanced Financial Network.
HOME» NYSE » C » CAH Stock Price » CAH Stock News

Cardinal Health Share News

 Cardinal Health, Inc. Stock Price
CAH Stock Price
 Cardinal Health, Inc. Stock Chart
CAH Stock Chart
 Cardinal Health, Inc. Stock News
CAH Stock News
 Cardinal Health, Inc. Company Information
CAH Company Information
 Cardinal Health, Inc. Stock Trades
CAH Stock Trades

Cardinal's Plant Is Stopped From Shipping Narcotic Painkillers

By Jon Kamp and Timothy W. Martin Of DOW JONES NEWSWIRES A U.S. appeals court ruled Friday that a Cardinal Health Inc. (CAH) distribution hub in Florida can't ship prescription painkillers while the company battles a Drug Enforcement Administration move to suspend that facility's license. While the appeals court recently issued a stay of the DEA's enforcement efforts against Cardinal's Lakeland, Fla., facility, the court on Friday said Cardinal hasn't met the "stringent requirements for an injunction." The decision means the Lakeland facility can't ship any controlled substances until the appeal is sorted out. Cardinal, in a statement, said it activated contingency plans earlier this month "and will continue to endeavor to meet our customers' needs with minimal disruption from our other distribution centers." Those contingency plans involve shipping controlled drugs to customers in the southeast U.S. from alternative facilities in Mississippi or North Carolina. Analysts have said the plans could add transportation costs to Cardinal and delay deliveries. The suspension of the DEA license means the Lakeland facility is blocked from shipping controlled medications like the pain drug oxycodone to thousands of pharmacies, hospitals and other health care providers. Cardinal, the nation's No. 2 drug distributor by sales after McKesson Corp. (MCK), can still ship noncontrolled medications, whichi includes most prescription drugs, and certain supplies,such as surgical packs. The DEA, which has tangled with Cardinal before amid efforts to battle prescription drug abuse, took action against the Lakeland facility last month while accusing Cardinal of not doing enough to stop oxycodone abuse. Cardinal has said that it supports the DEA's efforts, but also disagreed that it wasn't doing enough. The DEA suspended licenses for three Cardinal centers in 2007 after narcotic painkillers were diverted to rogue pharmacies. The Dublin, Ohio, company has said it took responsibility back then, but has also invested heavily to improve its systems. A U.S. District Court Judge ruled in late February that the government acted properly in trying to cut off shipments of oxycodone from the Lakeland site. Cardinal appealed that ruling in the U.S. Court of Appeals for the District of Columbia Circuit. Cardinal shares traded down 10 cents to $41.60 late Friday. -By Jon Kamp and Timothy W. Martin, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

Stock News for Cardinal Health (CAH)
DateTimeHeadline
07/30/201508:40:16Cardinal Health Profit Rises 26%
07/30/201508:30:55Cardinal Health Profit Rises 26%
07/30/201507:16:08Current Report Filing (8-k)
07/30/201507:00:00Cardinal Health Reports Strong Q4 And Record Fiscal Year-End...
07/24/201509:00:00Cardinal Health Announces Three Community Pharmacy Best Practice...
07/22/201509:00:00'Women in Pharmacy' Program to Educate and Guide Entrepreneurial...
07/20/201509:00:00Cardinal Health Helps Position Independent Pharmacists to Win...
07/15/201516:40:45Statement of Changes in Beneficial Ownership (4)
07/14/201508:00:00Cardinal Health Drives IT Service Delivery Performance with Numerify
07/09/201509:00:00Cardinal Health Continues Support of Future Pharmacists with...
07/06/201507:30:00Cardinal Health Completes Acquisition Of The Harvard Drug Group...
07/01/201508:13:30Current Report Filing (8-k)
06/25/201509:03:29Annual Report of Employee Stock Plans (11-k)
06/25/201509:00:26Annual Report of Employee Stock Plans (11-k)
06/23/201517:17:07Current Report Filing (8-k)
06/18/201508:30:00New Clinical Studies Prove that Asking Patients the Right Questions...
06/17/201516:48:46Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
06/17/201509:15:00Cardinal Health Among 64 Employers Recognized by National Business...
06/17/201506:02:53Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
06/16/201509:18:02Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Cardinal Health and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad