Cardinal Health Reports Higher Earnings, Lower Revenues; WellPoint Pledges Millions

Cardinal Health Reports Higher Earnings, Lower Revenues

Ohio-based healthcare supply and service giant Cardinal Health reported significantly higher earnings on depressed revenue for its second fiscal quarter ending Dec. 31.

Cardinal reported net income for the quarter of $303 million on revenue of $25.2 billion. That compares to net income of $262 million on revenue of $27.1 billion in the second quarter of fiscal 2012. Much of the dip in revenue was connected to the non-renewal of a contract with Express Scripts, company officials said.

For the first half of fiscal 2013, Cardinal reported net income of  $575 million on revenue of $51.1 billion. That compares to net income of $499 million on revenue of $53.9 billion for the first half of fiscal 2012.

While continued brand-to-genericconversions and the previously announced movement of the Express Scripts contract drove a revenue decline...excellent performance from our genericprograms and new customer wins fueled profit gains," said George Barrett, Cardinal's chief executive officer.

WellPoint Pledges Millions

Indianapolis-based managed care giant WellPoint, Inc. made more than $7 million in grants to community foundations during 2012 via its non-profit philanthropic arm.

The grants included $1.5 million to the American Cancer Society to fund a patient navigator program to help cancer patients negotiate and plan their care. The program is active in 14 states. The American Health Association also received a three-year, $4.5 million grant to teach CPR skills to members of the general public in order to reduce the mortality rate of those who suffer cardiac arrests outside of the hospital.

WellPoint also provided funding in the second year of a three-year $5 million grant to fund a wellness program operated by the Boys & Girls Clubs of America.

“Creating healthier futures for children, adults and seniors is at the core of everything we do,”said Lance Chrisman, the WellPoint Foundation's executive director.

GM Foundation Donates $400,000 For Cancer Research

The Detroit-based General Motors Foundation has donated $400,000 to the Barbara Ann Karmanos Cancer Institute. It's the second year in a row the automotive manufacturer has made such a donation to the institute, a National Cancer Institute-designated care center that's affiliated with Wayne State University in Detroit.

“Not only is Karmanos' state-of-the-sciencecancer research andcancer care known locally and nationally, its reputation extends across the globe,” said Vivian Pickard, president of the GM Foundation. “We're happy to support Karmanos' Annual Dinner but more importantly, its continued fight to eradicate this disease.”