NEW YORK (AP) — Health care products maker Cardinal Health Inc. said Thursday it will buy New York-based drug distributor Kinray Inc. for $1.3 billion in cash, expanding its base of independent pharmacies by 40 percent.
Cardinal Health said Kinray is the world's biggest privately held distributor of drugs, health, beauty, and home care products. Kinray, which does business with about 2,000 independent pharmacies, will expand Cardinal's business in the Northeast. Cardinal Health now serves about 5,000 independent pharmacies.
Cardinal Health expects the purchase to increase fiscal 2011 profit by a small amount and add at least 12 cents per share to its profit in fiscal …
No comments:
Post a Comment