Cardinal Health announced that its pharmaceutical distribution contracts with OptumRx, which expire at the end of June will not be renewed. Sales to OptumRx generated 16% of Cardinal Health’s consolidated revenue in fiscal year 2023. Approximately 90% of these sales were serviced by the company’s Pharmaceutical Distribution business and primarily consisted of non-specialty bulk shipments to Optum’s mail dispensing facilities. Total sales to OptumRx generate a meaningfully lower operating margin than the overall Pharmaceutical and Specialty Solutions segment.