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Cardinal Health (CAH) Introduces 2 New Digital Solutions
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Cardinal Health, Inc. (CAH - Free Report) recently launched Cardinal Health NavixRx Compliance Packaging and E-Commerce Storefront to help independent pharmacies meet changing consumer expectations and provide personalized and convenient on-demand services.
For investors’ note, NavixRx Compliance Packaging offers independent pharmacies a solution to outsource the most expensive and time-consuming aspects of compliance packaging for patients taking two or more prescriptions daily, thereby allowing pharmacists to spend more time with their patients.
Meanwhile, E-Commerce Storefront is a digital platform that enables independent pharmacies to meet the changing expectations of consumers with regard to virtual shopping, which local pharmacists are not able to meet. The cloud-based website permits pharmacists to expand online shopping capabilities for patients by offering more than 11,000 over-the-counter products.
The launch of the two latest digital offerings by Cardinal Health is expected to bolster its pharmacy business.
Benefits of the Digital Offerings
Compliance packaging is intended to increase medication adherence for patients who are on complicated medication regimens.
NavixRx digitally integrates with the pharmacist's Pharmacy Management System to ensure consistency and safety. Further, NavixRx, which is fully operational in Lewisville, TX, is situated in proximity to a Cardinal Health distribution center and the Dallas Fort Worth and Alliance airports, thereby offering supply and logistical advantages for service to pharmacies nationwide.
Image Source: Zacks Investment Research
Now shifting the focus to the e-commerce storefront website – it is a cloud-based solution that integrates into the independent pharmacy's existing website. This website offers next-day delivery from the Cardinal Health warehouse to the pharmacy along with marketing support from Cardinal Health.
Industry Prospects
Per a report published in Grand View Research, the global biotechnology and pharmaceutical outsourcing market size is set to witness a CAGR of 5.2% during the forecast period of 2021-2028. Factors driving market growth include increasing pricing pressure, lack of internal capabilities, drug development costs coupled with higher failure rates, low-cost service offering by Contract Research Organizations and Contract Manufacturing Organizations and increasing regulatory pressure.
Given the substantial market prospects, the two latest offerings by Cardinal Health seem strategic and well-timed.
Notable Developments
In July 2021, Cardinal Health announced that its robust network of radiopharmacies is poised to meet demand for a new radioactive diagnostic agent, Gallium 68 (Ga-68) PSMA-11. Per the FDA’s announcement in December 2020, Ga-68 could be prescribed and administered to patients with suspected prostate cancer metastasis and suspected prostate cancer recurrence. At present, more than 110 of the company’s nuclear pharmacies across the country are licensed to possess Ga-68.
In June, the company’s LYMPHOSEEK (technetium Tc 99m tilmanocept) injection received FDA approval for pediatric use. The LYMPHOSEEK is the first and only radiopharmaceutical agent specifically designed for targeted lymphatic mapping and guiding sentinel lymph node biopsies.
Share Price Performance
Over the past year, Cardinal Health has underperformed the industry it belongs to. The stock has gained 5.4% compared with the 19% rise of the industry.
Zacks Rank and Key Picks
Currently, Cardinal Health carries a Zacks Rank #3 (Hold).
Image: Bigstock
Cardinal Health (CAH) Introduces 2 New Digital Solutions
Cardinal Health, Inc. (CAH - Free Report) recently launched Cardinal Health NavixRx Compliance Packaging and E-Commerce Storefront to help independent pharmacies meet changing consumer expectations and provide personalized and convenient on-demand services.
For investors’ note, NavixRx Compliance Packaging offers independent pharmacies a solution to outsource the most expensive and time-consuming aspects of compliance packaging for patients taking two or more prescriptions daily, thereby allowing pharmacists to spend more time with their patients.
Meanwhile, E-Commerce Storefront is a digital platform that enables independent pharmacies to meet the changing expectations of consumers with regard to virtual shopping, which local pharmacists are not able to meet. The cloud-based website permits pharmacists to expand online shopping capabilities for patients by offering more than 11,000 over-the-counter products.
The launch of the two latest digital offerings by Cardinal Health is expected to bolster its pharmacy business.
Benefits of the Digital Offerings
Compliance packaging is intended to increase medication adherence for patients who are on complicated medication regimens.
NavixRx digitally integrates with the pharmacist's Pharmacy Management System to ensure consistency and safety. Further, NavixRx, which is fully operational in Lewisville, TX, is situated in proximity to a Cardinal Health distribution center and the Dallas Fort Worth and Alliance airports, thereby offering supply and logistical advantages for service to pharmacies nationwide.
Image Source: Zacks Investment Research
Now shifting the focus to the e-commerce storefront website – it is a cloud-based solution that integrates into the independent pharmacy's existing website. This website offers next-day delivery from the Cardinal Health warehouse to the pharmacy along with marketing support from Cardinal Health.
Industry Prospects
Per a report published in Grand View Research, the global biotechnology and pharmaceutical outsourcing market size is set to witness a CAGR of 5.2% during the forecast period of 2021-2028. Factors driving market growth include increasing pricing pressure, lack of internal capabilities, drug development costs coupled with higher failure rates, low-cost service offering by Contract Research Organizations and Contract Manufacturing Organizations and increasing regulatory pressure.
Given the substantial market prospects, the two latest offerings by Cardinal Health seem strategic and well-timed.
Notable Developments
In July 2021, Cardinal Health announced that its robust network of radiopharmacies is poised to meet demand for a new radioactive diagnostic agent, Gallium 68 (Ga-68) PSMA-11. Per the FDA’s announcement in December 2020, Ga-68 could be prescribed and administered to patients with suspected prostate cancer metastasis and suspected prostate cancer recurrence. At present, more than 110 of the company’s nuclear pharmacies across the country are licensed to possess Ga-68.
In June, the company’s LYMPHOSEEK (technetium Tc 99m tilmanocept) injection received FDA approval for pediatric use. The LYMPHOSEEK is the first and only radiopharmaceutical agent specifically designed for targeted lymphatic mapping and guiding sentinel lymph node biopsies.
Share Price Performance
Over the past year, Cardinal Health has underperformed the industry it belongs to. The stock has gained 5.4% compared with the 19% rise of the industry.
Zacks Rank and Key Picks
Currently, Cardinal Health carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Dental Supplies industry include Henry Schein, Inc. (HSIC - Free Report) , Laboratory Corporation of America Holdings (LH - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) , each sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein has a long-term earnings growth rate of 11.2%.
Laboratory Corporation has a long-term earnings growth rate of 10.6%.
West Pharmaceutical has a long-term earnings growth rate of 25.8%.