Cardinal, Refocusing on Core, Sells a Unit
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Reversing a decade-long campaign of diversification, Cardinal Health Inc. is selling its drug manufacturing and packaging division for $3.3 billion to the private-equity powerhouse Blackstone Group. The deal is the latest move by Cardinal’s new chief executive, R. Kerry Clark, to refocus the Dublin, Ohio, company on its core business of drug distribution, and on products to promote the safe use of drugs and to control medication dispensing. “We’re looking at all our businesses and making sure they have a strategic fit,” Jeff Henderson, Cardinal’s chief financial officer, said in an interview. The unit … Source : online.wsj.com |