Cardinal Health has announced that it will not renew its pharmaceutical distribution contracts with OptumRx, a unit of UnitedHealth Group Inc., after they expire at the end of June. The company anticipates that it will partially mitigate the impact of losing these contracts by acquiring new customers and expanding its specialty pharmacy business.
Debbie Weitzman, CEO of Cardinal Health’s pharmaceutical and specialty solutions division, expressed enthusiasm about other opportunities in the marketplace. She mentioned bringing on board new customers and benefiting from the integration of Specialty Networks in fiscal 2025. Weitzman did not offer any additional comments on the OptumRx contracts.
OptumRx serves as a pharmacy benefit manager that negotiates prescription drug prices between insurers and drug manufacturers. This decision marks a shift in Cardinal Health’s distribution strategy as the company looks to diversify its customer base and expand its offerings in the pharmaceutical and specialty pharmacy sectors.
