*China business had over $3.5 bln revenue last year. *Cardinal sale move comes amid China drug distribution reform. HONG KONG, July 20- U.S. drug distributor Cardinal Health has put its China business up for sale, drawing keen interest from state-backed Chinese pharmaceutical firms in a deal that may be worth up to $1.5 billion, sources familiar with the matter said.
*Q1 earnings $1.77/ shr vs estimate of $1.68/ shr. *Raised fiscal 2017 adjusted earnings to $5.77 to $5.92 per share. Leerink Partners analyst David Larsen said the unchanged drug pricing forecast bodes well for fiscal 2018, adding that operating margins for the quarter have been partly hurt by more rapid brand to generic conversions and not pricing.
April 27- Duracell, a unit of Warren Buffett's Berkshire Hathaway Inc, on Thursday filed a lawsuit accusing a Missouri wholesaler of illegally selling gray market versions of its copper-top alkaline batteries. According to a complaint filed in federal court in Chicago, JRS Ventures Inc is importing and selling batteries made in China that were intended for...
WASHINGTON, Feb 28- The U.S. economy expanded at a slower pace in the fourth quarter, as previously reported, and appeared to remain on a moderate growth path as President Donald Trump took office with a promise to reinvigorate manufacturing and protect jobs. He is expected to outline part of his program in a speech to Congress on Tuesday night.
Net income attributable to McKesson was $633 million, or $2.85 per share, in the third quarter ended Dec. 31, from $634 million, or $2.73 per share, a year earlier. Revenue rose to $50.13 billion from about $47.90 billion, compared with estimates of about $50.50 billion. McKesson said on Wednesday it expects adjusted earnings from continuing operations of $12.60-...
CNBC's Rick Santelli reports the latest industrial production data.
Profits earned by Chinese industrial companies fell 4.6 percent in October from a year earlier, data from the statistics bureau showed on Friday.
South Korea's industrial output declined sharply with production losses across key automobile, semiconductor and machinery sectors.