嘉德诺Cardinal Health Inc. (CAH) 2017财年年度报告「NYSE」.pdf

1、 2017 Cardinal Health.All Rights Reserved.CARDINAL HEALTH,the Cardinal Health LOGO and ESSENTIAL TO CARE are trademarks of Cardinal Health and may be registered in the US and/or in other countries.All other marks are the property of their respective owners.Lit.No.5IR17-672663(09/2017)2017 Annual Rep

2、ortCorporate offices Cardinal Health 7000 Cardinal Place Dublin,Ohio 43017614.757.5000 Annual reportDear Shareholders of Cardinal Health:George S.BarrettChairman and CEO,Cardinal Health,Inc.At Cardinal Health,our fiscal 2017 was a year of challenges and a year in which we took important actions to s

3、trengthen our market position,grow our scale,add new long-term drivers of growth,and improve the overall balance of our integrated portfolio.These actions will have significant positive impact on our performance over the next two to five years.While demand for the healthcare products and services we

4、 provide continues to grow powered by demographic changes that will only accelerate in the years ahead a combination of market dynamics,policy uncertainty,and economic forces made our FY17 among the most difficult years to model and predict.The impact of those dynamics was most pronounced in our Pha

5、rmaceutical Distribution business where pricing was a significant headwind that was mostly associated with generics.We talked about this pricing phenomenon all year,and along the way,we also indicated that most of the Cardinal Health portfolio performed extremely well,and we feel confident that we a

6、re well positioned for the long-term.Our Pharmaceutical Distribution business remains an anchor in our portfolio and is very valuable to the broader healthcare system.Cardinal Health manages an intricate network,which includes complex contracting,global sourcing,extensive regulatory interfaces,and a