On Monday, Cardinal Health announced that it will not be renewing its pharmaceutical distribution contracts with OptumRx unit of UnitedHealth Group Inc. Despite this news, the drug distributor remains optimistic about its future prospects and believes it will partially offset the impact of losing these contracts by gaining new customers and experiencing growth in its specialty pharmacy business.
Debbie Weitzman, CEO of Cardinal Health’s pharmaceutical and specialty solutions division, expressed excitement about other opportunities in the marketplace beyond the OptumRx contracts. She mentioned the onboarding of new customers and the additional capabilities expected from the integration of Specialty Networks in fiscal 2025.
Cardinal Health did not provide further comment on the OptumRx contracts and their decision not to renew them. OptumRx serves as an intermediary between insurers and drugmakers to negotiate prescription drug prices. The impact of the contract non-renewal will be closely watched in the industry.
Overall, Cardinal Health is focused on expanding its customer base and enhancing its specialty pharmacy services, which they believe will contribute to their growth in the coming years.
