AbbVie vs Cardinal Health: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: AbbVie and Cardinal Health side by side

1. 1971Cardinal Health

   Cardinal Foods Founded by Robert D. Walter

   Robert D. Walter, a 26-year-old Harvard MBA graduate, borrowed $1.3 million to acquire the food-distribution division of Consolidated Foods in a leveraged buyout, establishing Cardinal Foods in Columbus, Ohio.

2. 1979Cardinal Health

   Pivot to Pharmaceutical Distribution

   Walter acquired Bailey Drug Co., a pharmaceutical distributor in Zanesville, Ohio, marking Cardinal's entry into pharmaceutical distribution.

3. 1983Cardinal Health

   Cardinal Distribution Goes Public

   Cardinal Distribution Inc. completed its initial public offering on the NASDAQ at $1.03 per share, providing capital for continued expansion through acquisitions.

4. 1984Cardinal Health

   Acquisition of Ellicott Drug

   Cardinal acquired Ellicott Drug, a pharmaceutical distributor in Buffalo, New York, continuing the acquisition-driven expansion strategy that would define the company's growth for decades.

5. 1988Cardinal Health

   Sale of Food Operations to Roundy's Inc.

   Cardinal sold its remaining food operations to Roundy's Inc., completing the company's transition from a diversified food and drug distributor to a pure-play pharmaceutical distribution company.

6. 1994Cardinal Health

   Name Change to Cardinal Health

   The company changed its name from Cardinal Distribution to Cardinal Health, reflecting its expanding mission beyond pure distribution into healthcare services, manufacturing, and technology. Revenues exceeded $1 billion by 1991.

7. 1995Cardinal Health

   Acquisition of Medicine Shoppe International

   Cardinal acquired Medicine Shoppe International, the country's largest franchise of retail pharmacies, marking the company's first significant non-distribution acquisition and entry into retail pharmacy.

8. 1996Cardinal Health

   Acquisition of Pyxis Corp.

   Cardinal acquired Pyxis Corp., a manufacturer of automated supply and pharmaceutical dispensing systems for hospitals, adding medical technology capabilities to the company's portfolio.

9. 1999Cardinal Health

   Acquisition of Allegiance Healthcare Corp.

   Cardinal acquired Allegiance Healthcare Corp. for approximately $4.4 billion, becoming a major player in the medical-surgical products market and establishing the foundation for what would become the Global Medical Products and Distribution segment.

10. 2013AbbVie

    AbbVie Launches as an Independent Company

    AbbVie launched after Abbott Laboratories separated its research-based pharmaceutical business and began NYSE trading under ABBV.

11. 2013Cardinal Health

    Red Oak Sourcing Joint Venture with CVS

    Cardinal Health and CVS Caremark announced the creation of Red Oak Sourcing, a 50/50 joint venture to form the largest generic pharmaceutical sourcing entity in the United States. The venture began operations in July 2014 with an initial 10-year term.

12. 2014Cardinal Health

    Loss of Walgreens Contract

    Cardinal Health lost a major pharmaceutical distribution contract with Walgreens, which shifted its distribution to AmerisourceBergen. The contract had generated $3.3 billion in quarterly revenue.

13. 2015AbbVie

    Pharmacyclics Acquisition Completed

    AbbVie completed its acquisition of Pharmacyclics, adding Imbruvica and expanding its hematologic oncology business.

14. 2017Cardinal Health

    Acquisition of Patient Recovery Business from Medtronic

    Cardinal Health acquired the Patient Recovery business from Medtronic for $6.1 billion, expanding its medical products portfolio and adding significant scale to the Global Medical Products and Distribution segment.

15. 2019AbbVie

    Skyrizi Receives Initial U.S. Approval

    The FDA approved Skyrizi for adults with moderate to severe plaque psoriasis in April 2019.

16. 2019AbbVie

    Rinvoq Receives Initial U.S. Approval

    The FDA approved Rinvoq for adults with moderate to severe rheumatoid arthritis in August 2019.

17. 2020AbbVie

    Allergan Acquisition Completed

    AbbVie completed the Allergan acquisition, adding neuroscience, eye care, and Allergan Aesthetics products including Botox and Juvederm.

18. 2023AbbVie

    U.S. Humira Biosimilar Competition Begins

    Humira began facing U.S. biosimilar competition, and AbbVie reported a subsequent decline in Humira revenue.

19. 2024AbbVie

    ImmunoGen Acquisition Completed

    AbbVie completed its acquisition of ImmunoGen, adding Elahere and antibody-drug conjugate programs.

20. 2024AbbVie

    Robert A. Michael Becomes CEO

    Robert A. Michael succeeded Richard A. Gonzalez as chief executive officer effective July 1, 2024.

21. 2024AbbVie

    Cerevel Therapeutics Acquisition Completed

    AbbVie completed its acquisition of Cerevel Therapeutics, adding clinical-stage neuroscience programs.

22. 2024Cardinal Health

    OptumRx Contract Non-Renewal Announced

    Cardinal Health's pharmaceutical distribution contracts with OptumRx (part of UnitedHealth Group) expired at the end of June 2024 and were not renewed. They represented about $38.1 billion of fiscal 2024 revenue.

23. 2025AbbVie

    Robert A. Michael Becomes Chairman

    Robert A. Michael added the chairman role effective July 1, 2025, when Richard A. Gonzalez retired from the board.

24. 2025AbbVie

    FY2025 Revenue Reaches $61.160 Billion

    AbbVie reported FY2025 net revenue of $61.160 billion and net income of $4.226 billion.

25. 2025Cardinal Health

    Fiscal 2025 Results and Raised FY2026 Guidance

    Cardinal Health reported fiscal 2025 revenue of $222.6 billion, down about 2% after the OptumRx contract expiration, while net earnings rose to about $1.6 billion.

26. 2026AbbVie

    Q1 2026 Revenue Reaches $15.002 Billion

    AbbVie reported first-quarter 2026 net revenue of $15.002 billion, up 12.4 percent on a reported basis.

27. 2026Cardinal Health

    Fiscal 2026 Revenue Reaches $254.2 Billion

    Fiscal 2026 revenue rose 14% to $254.2 billion and non-GAAP EPS rose 37% to $11.26, with profit growth in all five operating segments.

Acquisitions

Questions about AbbVie vs Cardinal Health