Pharmaceutical and medical distribution
Cardinal Health, Inc.
Cardinal Health earns money by distributing branded, generic and specialty pharmaceuticals to pharmacies and healthcare providers, and by manufacturing, sourcing and distributing medical, surgical and laboratory products. It purchases inventory from pharmaceutical and medical-product suppliers and deploys capital into physician-practice and home-care acquisitions.
CAH Updated Sep 11, 2026 5 AI consumers· 2 recurring
Per the valuechain.wiki graph, Cardinal Health, Inc. is directly linked to 9 companies (8 supply, 1 revenue relationships) and reaches 21 companies within two hops; the links are backed by 12 dated sources, 8 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2026 total revenue: $254.248 billion
- Segments · Pharmaceutical and Specialty Solutions · Global Medical Products and Distribution · Other
Revenue from
- Members of Vizient and Premier High confidence· Revenue share 29 percent · FY2026 · Combined sales to Vizient and Premier members as a share of Cardinal Health FY2026 total revenue
Vizient and Premier are Cardinal Health's two largest group-purchasing-organization relationships by revenue. Combined sales across the company to members of the two organizations represented 29% of FY2026 revenue. - CVS Health High confidence· Revenue share 28 percent · FY2026 · CVS Health share of Cardinal Health FY2026 total revenue
CVS Health is Cardinal Health's largest customer. Cardinal Health supplies pharmaceuticals to CVS pharmacies and distribution centers, and the relationship generated 28% of FY2026 revenue.Mentions EN Drug Channels Institute Published Oct 1, 2025: The 2025-26 Economic Report on Pharmaceutical Wholesalers and Specialty Distributors: Report OverviewConfirms EN Cardinal Health Newsroom Published Aug 11, 2021: Cardinal Health Extends Pharmaceutical Distribution Agreements with CVS Health
Pays to
- Amgen High confidence· Amount $12.6B · FY2025 · Amgen-reported gross product sales to Cardinal Health
Amgen uses Cardinal Health as a major pharmaceutical wholesale customer. Amgen reported $12.562 billion of FY2025 gross product sales to Cardinal Health, evidencing Cardinal Health's sourcing relationship from the manufacturer side. - Bristol-Myers Squibb Company High confidence
Cardinal Health is one of BMS's three largest U.S. pharmaceutical wholesale customers, with gross revenue to Cardinal Health representing 22% of BMS's U.S. gross revenue in 2025. - Moderna High confidence
Cardinal Health was a U.S. distribution customer representing 11% of Moderna's FY2025 total revenue, while the absolute revenue amount by counterparty was not disclosed. - AbbVie High confidence
AbbVie sells its U.S. pharmaceutical products through major wholesalers including Cardinal Health. AbbVie does not disclose the amount or share attributable specifically to Cardinal Health. - Gilead Sciences, Inc. High confidence
Cardinal Health and its specialty distributor affiliates are major U.S. wholesale customers of Gilead and represented 29% of Gilead's total gross product sales in FY2025. - Pfizer Inc. High confidence
Cardinal Health is Pfizer's third-largest U.S. wholesaler customer and represented a double-digit share of FY2025 total revenue. - Lilly (Eli) High confidence
Cardinal Health is one of the three major U.S. wholesalers that buy and distribute Lilly products, and Lilly's 10-K discloses that McKesson, Cencora, and Cardinal each account for 10%+ of consolidated revenue, with Lilly selling to these wholesalers rather than pharmacies and the resulting concentration creating both channel bargaining power and the layer where the gross-to-net gap (rebates, PBMs) forms. - Becton, Dickinson and Company Medium confidence
Cardinal Health is a major independent U.S. distributor that warehouses BD products and supports order processing and marketing, while BD revenue attributable to Cardinal Health is not disclosed.Confirms EN U.S. Court of Appeals for the Seventh Circuit via Justia Published Mar 18, 2022: Marion Diagnostic Center, LLC v. Becton Dickinson & Co., No. 21-1513
Investments
- Solaris Health High confidence· Amount $1.9B · Acquisition completed 2025-11-03 · Cash purchase price for Solaris Health
Cardinal Health completed its acquisition of urology management-services organization Solaris Health in November 2025. The cash purchase price was approximately $1.9 billion, and the business joined the multi-specialty platform The Specialty Alliance.Mentions KO Investing.com Korea Published Aug 12, 2025: Cardinal Health Shares Fall on Revenue Miss Despite Raised Outlook
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Elevance Health, Inc. | lead2 | +46.1 | +11.8 | -6.9 | -20.7 | -3.1 | +17.4 |
| CVS Health | lead1 | +54.9 | -7.6 | -12.5 | -40.8 | +84.3 | +24.7 |
| Cardinal Health, Inc. | node | -0.4 | +54.1 | +34.1 | +19 | +76.3 | +21.1 |
| Moderna | benef1 | +143.1 | -29.3 | -44.6 | -58.2 | -29.1 | +393.6 |
| Amgen | benef1 | +0.9 | +20.4 | +13.5 | -6.8 | +29.7 | +36.3 |
| Bristol-Myers Squibb Company | benef1 | +2.9 | +19 | -26.1 | +15.8 | +0.1 | +28.1 |
| Gilead Sciences, Inc. | benef1 | +30 | +23.6 | -2 | +18.7 | +36.6 | +24.5 |
| Becton, Dickinson and Company | benef1 | +1.9 | +5.1 | -2.7 | -5.4 | -12.6 | +22.7 |
| Pfizer Inc. | benef1 | +66.7 | -10.4 | -41.3 | -2.2 | +0.6 | +20.2 |
| AbbVie | benef1 | +32.4 | +24 | -0.2 | +18.9 | +33.1 | +14.9 |
| Lilly (Eli) | benef1 | +66.1 | +34.3 | +60.9 | +33.3 | +40.2 | +7.5 |
| Jabil | benef2 | +66.4 | -2.5 | +87.4 | +13.3 | +58.7 | +36.3 |
| Veeva Systems | benef2 | -6.2 | -36.8 | +19.3 | +9.2 | +6.2 | +23.2 |
| Agilent Technologies, Inc. | benef2 | +35.5 | -5.5 | -6.4 | -2.7 | +1.9 | +11.5 |
| Thermo Fisher Scientific | benef2 | +43.5 | -17.3 | -3.4 | -1.7 | +11.8 | +6.1 |
| Edwards Lifesciences Corporation | benef2 | +42 | -42.4 | +2.2 | -2.9 | +15.2 | +5.5 |
| Shionogi & | benef2 | +15 | -2.2 | +17.8 | -1 | +42.4 | -7.3 |
| Blackstone | benef2 | +107.1 | -40 | +82.7 | +35.1 | -7.8 | -8.9 |
| Samsung Biologics | benef2 | -6.8 | +8.6 | +5.8 | +28.7 | +5 | -17.1 |
| Yuhan Corporation | benef2 | -9 | -2.3 | +19.7 | +119.9 | -16.7 | -24.2 |
| LigaChem Biosciences | benef2 | -26.2 | -18.1 | +37.1 | +151 | +60.5 | -54.7 |
| ABL Bio | benef2 | +15.9 | -31.3 | +14.2 | +65.2 | +443.9 | -63.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Cardinal Health, Inc. operates across Pharmaceutical and medical distribution. Momentum stayed firm and it is +21.1% in 2026. The supply side (avg +120.6%) has moved harder than the stock (+21.1%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Moderna (+393.6%) and the furthest behind is Gilead Sciences, Inc. (+24.5%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It purchases inventory from pharmaceutical and medical-product suppliers and deploys capital into physician-practice and home-care acquisitions.
Analysis generated from returns as of 2026-09-04