For the second time this year, a major pharmaceutical wholesaler has reached agreement with a coalition of institutional investors to bolster oversight of opioid distribution and board accountability.
In this instance, the Cardinal Health (CAH) board agreed to create a committee to monitor the risks of distributing the addictive painkillers and provide investors with reports of two investigations into allegations of failed oversight. In addition, the wholesaler agreed to post detailed information about its policies and efforts on its website.
As a result, the investor coalition, which also reached an agreement earlier this year with McKesson (MCK), withdrew a shareholder resolution that called for the Cardinal Health board to take these steps.
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