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Cardinal Health posts 22% increase in Q3 revenue to $30.7 billion

BY Michael Johnsen
DUBLIN, Ohio – Cardinal Health on Thursday reported a 21% increase in revenue to $30.7 billion for its third quarter for the fiscal year 2016.
 
"We had a strong financial and operational performance in our fiscal third quarter. At the same time, we continued to enhance and grow enterprise-wide service and product lines, which are important to our customers and address some of health care's most difficult challenges," stated George Barrett, chairman and CEO Cardinal Health. "We delivered double-digit growth in revenue and profit in both our Pharmaceutical and Medical reporting segments and had very solid performance across our lines of business."
 
Third-quarter revenue for the Pharmaceutical segment increased 22% to $27.5 billion due to growth from new and existing customers as well as acquisitions. Third-quarter revenue for the Medical segment increased 13% to $3.1 billion due to the net contribution from acquisitions as well as solid growth from existing businesses.
 
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CVS Pharmacy offers nonprescription naloxone to New Hampshire residents

BY Michael Johnsen
WOONSOCKET, R.I. – CVS Health announced Thursday it has made the opioid overdose reversal medication naloxone available without a prescription at all CVS Pharmacy locations in New Hampshire. CVS Health has established a standing order with physicians in New Hampshire that allows CVS Pharmacy to expand access to the medication in the Granite State.  
 
"Naloxone is a safe and effective antidote to opioid overdoses and by expanding access to this medication in our New Hampshire pharmacies by the use of a physician's standing order for patients without a prescription, we can help save lives," stated Tom Davis,VP pharmacy professional practices at CVS Pharmacy. "We support expanding naloxone availability to give more people a chance to get the help they need for recovery and we applaud the State of New Hampshire for its leadership in the fight against drug abuse and addiction."
 
"The opioid epidemic has touched so many families in New Hampshire and across the U.S. and expanding access to naloxone is one important step in our efforts to address it," commented Marcia Lee Taylor, president and CEO of the Partnership for Drug-Free Kids. "We applaud CVS Health for increasing access to this life-saving drug for patients without a prescription at CVS Pharmacy locations in New Hampshire and in many other states across the country."  
 
CVS Health has also launched digital resources on www.cvs.com/content/prescription-drug-abuse giving patients and families a single destination to learn more about drug abuse prevention. These new resources build on CVS Health's commitment to helping communities address and prevent drug abuse.  In 2015, CVS Health launched a community outreach program called Pharmacists Teach, which brings local pharmacists to high school health classes to talk to students about the dangers of drug abuse. More than 60,000 students have already taken part in the program.  
 
CVS Health has also joined with the Partnership for Drug-Free Kids to create the Medication Disposal for Safer Communities Program, which donates disposal units to local police departments, providing a safe and environmentally friendly way to dispose of unwanted medication. The program has already donated twelve units to police departments in the state and collected more than 1,665 pounds of unwanted medications in New Hampshire.  
 
In addition to New Hampshire, CVS Pharmacy locations in 22 other states can now dispense naloxone to patients without an individual prescription.
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Former Target chief merchant joins consulting firm

BY Gina Acosta

SAN FRANCISCO, Calif. — Former Target executive Kathryn Tesija has joined CPG/retail consulting firm Simpactful as a senior adviser and consultant.

Tesija spent 30 years at Target Corp., most recently as chief merchandising and supply chain officer. She will be a senior adviser and consultant for Simpactful, based in Minneapolis. 

“Kathee’s tremendous experience, along with our team of other senior leaders from companies like Walmart, P&G, Acosta, General Mills, Safeway and beyond, enables Simpactful to bring our clients real-world solutions that enable them to deliver best-in-class sales and profit growth, plus organizational productivity. We are very excited and fortunate to have Kathee join our team," said Tom O’Brien, chairman at Simpactful.

The firm says Tesija will help empower client companies of all sizes to improve top and bottom line results via strategic guidance, direction on sales and marketing plans, and strong operational/in-store expertise.

During 30 years at Target, Tesija was among the key executives who helped grow Target into a $73 billion company. During her tenure, she helped build Target from 226 to 1,800 retail stores while at the same time navigating significant disruption — as shopping forever changed from an in-store only to a seamless, online and on-demand experience. Tesija oversaw all functions of product design and development, sourcing, merchandising, presentation, inventory management, operations and global supply chain for Target.com and nearly 1,800 retail stores.  

Tesija’s move to Simpactful follows other high-profile additions, including Taylor Smith of Walmart and Brian Baldwin of Acosta Sales and Marketing, among others.

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