Cardinal Health buying Harvard Drug for $1.12B

June 5, 2015 3:59 PM

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Cardinal Health (CAH) plans to acquire The Harvard Drug Group in a $1.12 billion cash and debt deal designed to expand its distribution of generic drugs, the company said Friday.

Ohio-based Cardinal Health predicted the acquisition of the Michigan-headquartered firm now owned by private equity firm Court Square Capital Partners would add more than 15 cents to earnings per share in fiscal year 2016.

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