Cardinal Health makes $1.1 billion-plus acquisition
Cardinal Health (NYSE: CAH) says it plans to acquire The Harvard Drug Group (THDG), a distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers.
This is the second acquisition in the past few weeks for Cardinal, which last month issued a binding offer to purchase US health care giant Johnson & Johnson’s (NYSE: JNJ) Cordis business for $1.94 billion (The Pharma Letter May 28).
THDG is currently owned by Court Square Capital Partners. Cardinal Health will pay $1.115 billion using existing cash and new debt. The transaction is expected to close in the beginning of fiscal year 2016 subject to regulatory approvals and other customary closing conditions.
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