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Cardinal Health Inc

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Cardinal's Loss of Optum Contract Drags Near-Term Sales but Underlying Trend and Demand Look Solid

Business Strategy and Outlook

Cardinal Health is one of three leading domestic wholesalers of branded, generic, and specialty pharmaceutical products. With roughly $190 billion in annual US drug distribution sales in fiscal 2023, the company supplies roughly one fourth of the overall market. Its two close competitors are Cencora and McKesson. Together, the three operate as a pharmaceutical wholesale and distribution oligopoly, supplying over 90% of the US market.

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