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Cardinal Health, Peers Tumble As Lower Generic Drug Prices Hurt Industry Outlook

Tuesday, April 18, 2017 23:57

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zerohedge.com / by Tyler Durden / Apr 18, 2017 12:46 PM

Cardinal Health tumbled the most in almost six months after the healthcare product distributor warned its outlook would be toward the lower end of its forecast range for this year and gave initial fiscal 2018 guidance that missed analyst estimates.

The company is grappling with lower prices for generic medicines, a trend that several sellside analysts warned is likely to also hit competitors McKesson and AmerisourceBergen. After the poor guidance, CAH fell as much as 12%, most since Oct. 28; Comps ABC and MCK were down as much as 6.2% and 5.7%, respectively. Prior to today, CAH was up 14% YTD vs S&P 500 Health Care Index up 7.6%; ABC had gained 11%, MCK was up 2.7%.

Source: http://silveristhenew.com/2017/04/18/cardinal-health-peers-tumble-as-lower-generic-drug-prices-hurt-industry-outlook/

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