Monday 12 March 2012

Drug Enforcement Administration-Temporary Restraining Order-Prescription Drugs-Cardinal Health

Cardinal Fights a Misdirected DEA

Does the Drug Enforcement Administration (DEA) understand the distribution system for legitimate, prescription drugs? It sure doesn't look that way. The DEA once again went after Cardinal Health (NYSE:CAH) by suspending the company’s controlled substances license at its Lakeland, FL, facility. Late Friday, Cardinal successfully won a temporary restraining order against the DEA. See Cardinal Health’s statement. Kudos to Cardinal Health CEO George Barrett for standing up to an overzealous DEA. When this happened in 2007, Cardinal’s tentative and indecisive response led to major business losses, from which the company has never fully recovered. I'm curious to see how CVS Caremark (NYSE:CVS) reacts to last Friday's raid at 2 of its Florida stores.As I explain below, the DEA started targeting wholesalers and manufacturers because they can't stop the real criminals—the patients abusing prescription drugs, the physicians running “pill mills,” and the pharmacies dealing these drugs. And don’t even get me started on how the DEA has created a shortage of ADHD meds by putting manufacturers under their thumb…Read more »Copyright © 2006-2012 Pembroke Consulting, Inc. and Copyright © 2006-2012 Drug Channels. This Feed is for personal non-commercial use only. read more..

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