Car­di­nal Health los­es Op­tum­Rx con­tract to McKesson

Car­di­nal Health’s dis­tri­b­u­tion con­tract with phar­ma­cy ben­e­fit man­ag­er Op­tum­Rx will ex­pire at the end of June and it will not be re­newed, the com­pa­ny said. McKesson has won the con­tract, in­vest­ment bank Leerink Part­ners said in a note on Mon­day.

Leerink an­a­lysts said they con­firmed with man­age­ment that McKesson won the con­tract, which be­gins Ju­ly 1. An­a­lysts added that the con­tract gives McKesson “ad­di­tion­al drug vol­umes and earn­ings growth” and “more cush­ion for long-term growth.”

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