Cardinal, CVS Health generics sourcing venture tracking ahead of plan

DUBLIN, Ohio — Following a solid first-half performance and promsing second-half projections, Cardinal Health increased full-year share earnings projections to a range of $4.28 to $4.38, in part driven by a faster-than-expected start for its generics sourcing venture with CVS Health, Columbus Business First reported Thursday. 

 

George Barrett, Cardinal CEO, told analysts Thursday morning that the Red Oak Sourcing joint venture is tracking ahead of plan in transitioning manufacturers. 

 

"I continue to be impressed with the efficiency and speed at which the Red Oak team has executed," said Mike Kaufmann, Cardinal CEO. "They have now transitioned suppliers representing greater than 95% of the total generic spend."