Cardinal Health Inc. (CAH: Quote) announced Tuesday morning that its pharmaceutical distribution contract with Walgreen Co. (WAG: Quote), which is scheduled to expire at the end of August 2013, will not be renewed.
Cardinal Health gapped open sharply lower Tuesday and dipped in early trade. Shares slipped further going into the close and finished down by 3.78 at $42.35 on the highest volume of the year. The stock dropped to over a 2-month low and fell below its 50-day moving average.
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by RTT Staff Writer
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