May 1 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
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