The U.S. health regulator has sent a warning letter to Cardinal Health (CAH.N) after an inspection of its facility in Illinois found the company was marketing and distributing unapproved devices made by a Chinese manufacturer.
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“Today’s announcement was a worst-case scenario for Cardinal Health’s Optum renewal,” EvercoreISI analyst Elizabeth Anderson wrote in a note.
Yesterday the agency told healthcare providers and facilities not to use Cardinal Health’s Monoject syringes with patient-controlled pain management pumps and syringe pumps.
Drug distributor Cardinal Health on Friday raised its full-year earnings forecast for the second time in nearly three months, betting on strong demand for specialty medicines.
A crackdown by U.S. drug wholesalers in response to the opioid crisis is preventing some pharmacists from dispensing a combination of stimulants and sedatives routinely prescribed by psychiatrists to help patients manage conditions like anxiety and ADHD.