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Cardinal Health quarterly revenue rises 3.8 pct
May 1, 2017 / 11:11 AM / 7 months ago

Cardinal Health quarterly revenue rises 3.8 pct

May 1 (Reuters) - Cardinal Health Inc reported a 3.8 percent rise in quarterly revenue, helped by strength in its pharmaceutical business even as the drug distributor faces declining generic drug prices.

Cardinal’s results come nearly two weeks after the drug distributor said it expected full-year adjusted earnings at the lower end of its forecast, underscoring the U.S. drug distribution industry’s struggles with falling generic drug prices.

Net earnings attributable to the company fell marginally to $381 million, or $1.20 per share, in the third quarter ended March 31, from $386 million, or $1.17 per share, a year earlier.

Revenue rose 3.8 percent to $31.82 billion. (Reporting by Ankur Banerjee in Bengaluru; Editing by Supriya Kurane)

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