Filed by Cardinal Health, Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Syncor International Inc.
Commission File No. 000-08640
[CARDINAL HEALTH LOGO]
[FOUR REPRESENTATIVE GRAPHICS]
Syncor All Employee Meeting
Remarks from Robert D. Walter
June 27, 2002
ABOUT CARDINAL HEALTH...
--------------------------------------------------------------------------------
o Our history
o Cardinal Health today
o Our strategy
o Our culture
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
EXCEPTIONAL PAST
--------------------------------------------------------------------------------
o Food ------> Drug
o Local ------> Regional
o Distribution ------> Broader services
o National ------> International
o Just three decades to become a global leader in
healthcare
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CARDINAL OVER THE PAST DECADE --
FOCUS ON CUSTOMER EXPANDS OUR REACH
--------------------------------------------------------------------------------
SCOPE
-------------------------------------------
|
1991 | 2001
--------------------|----------------------
|
o Focus Healthcare | Healthcare
|
o Concentration Rx Dist. | Broad Portfolio
|
o Geography U.S. Only | 42% Employees
| Outside U.S.
|
-------------------------------------------
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CARDINAL OVER THE PAST DECADE
--------------------------------------------------------------------------------
SIGNIFICANT GROWTH IN ALL CATEGORIES
[BAR GRAPH]
REVENUE
-------
1991 - $1.2B
2001 - $38B
OPERATING EARNINGS
------------------
1991 - $35mm
2001 - $1.6B
MARKET CAPITALIZATION
---------------------
1991 - $3.4B
2001 - $34B
NO. OF EMPLOYEES
----------------
1991 - 1,400
2001 - 49,000
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CARDINAL OVER THE PAST DECADE --
A LEADER IN HEALTHCARE
--------------------------------------------------------------------------------
SIZE
-------------------------------------------
1991 2001
-------------------------------------------
o Revenue $1.2B --------> $38B
o Operating Earnings $35mm --------> $1.6B
o Market Capitalization $3.4B --------> $34B
o No. of Employees 1,400 --------> 49,000
-------------------------------------------
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
ABOUT CARDINAL HEALTH
--------------------------------------------------------------------------------
o Our history
o Cardinal Health today
o Our strategy
o Our culture
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CARDINAL HEALTH TODAY
A DIVERSIFIED PORTFOLIO
--------------------------------------------------------------------------------
[GRAPH]
FY'02 Consensus Estimate
------------------------
Operating
Revenue Earnings Mix
--------------------------------------------------------------------------------
Rx Distribution & Provider Services >$35B approx. $1.1B 52%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Medical Surgical Products & Services >$6B >$500M 26%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Rx Technologies & Services >$1.3B >$250M 12%
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Automation & Information Services >$500M >$200M 10%
--------------------------------------------------------------------------------
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
Pharmaceutical Distribution and Provider Services
A Diversified Portfolio
--------------------------------------------------------------------------------
o Rx demand -------------------------
Operating Earnings
o Margin improvements - generics -------------------------
approx. $1.1B
o Leveraging past investments
In infrastructure -------------------------
Operating Earnings Mix
o Continued productivity gains -------------------------
[PIE CHART]
- Bindley synergies 52%
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
MEDICAL SURGICAL PRODUCTS AND SERVICES
A DIVERSIFIED PORTFOLIO
--------------------------------------------------------------------------------
o Margin improvements from growth -------------------------
of manufactured products Operating Earnings
-------------------------
o Cost improvements - new facilities >$500M
o Tax benefits - production -------------------------
relocations Operating Earnings Mix
-------------------------
o Cash flow to fund acquisitions [PIE CHART]
26%
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
RX TECHNOLOGIES AND SERVICES
A DIVERSIFIED PORTFOLIO
--------------------------------------------------------------------------------
o Big pharma -------------------------
- Cost pressure driving outsourcing Operating Earnings
-------------------------
o Biotech industry growth >$250M
o Product launches - 2003 to 2005 -------------------------
Operating Earnings Mix
o Leveraging past investments -------------------------
[PIE CHART]
o Broaden opportunity in analytical 12%
- And marketing services
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
AUTOMATION & Information
A Diversified Portfolio
--------------------------------------------------------------------------------
o Backlog of uninstalled units -------------------------
Operating Earnings
o New product offerings -------------------------
>$200M
o Focus on eliminating med errors
-------------------------
o Cost pressures on healthcare Operating Earnings Mix
-------------------------
o New markets [PIE CHART]
- Bedside, international, industrial 10%
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
RISING RETURNS...EVERY SEGMENT
--------------------------------------------------------------------------------
RETURN ON
RETURN ON SALES COMMITTED CAPITAL
------------------ --------------------
1998 2002E 1998 2002E
---- ----- ---- -----
Segment
-------
Rx Dist. & Provider Svcs. 2.9% 3.0% 20% 30%
Med/Surg Products & Svcs. 6.1% 8.2% 19% 33%
Rx Technologies & Svcs. 18.8% 20.0% 29% 30%
Auto. & Info. Svcs.* 30.0% 37.0% 75% >100%
* Before impact of lease portfolio
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CARDINAL - BY BUSINESS FUNCTION
--------------------------------------------------------------------------------
OPERATING EARNINGS MIX
----------------------
Distribution
Pharmaceutical 44% \
| 52%
MS & Lab 8% /
Manufacturing 42% \
| 48%
Consulting & Services 6% /
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
WHAT DO OTHERS THINK?
--------------------------------------------------------------------------------
[LOGO OF THE BUSINESS WEEK 50: #33]
[GRAPHIC OF SHAREHOLDER VALUE MAGAZINE: #70]
[LOGO OF INTERNET WEEK 100: THE NATION'S TOP E-BUSINESSES]
[LOGO OF FORTUNE: FORTUNE 500: #23 AND #1 FASTEST GROWTH]
[LOGO OF FORBES: THE GLOBAL 25 A-LIST]
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
VERY RECENT ENDORSEMENTS
--------------------------------------------------------------------------------
[LOGO AND GRAPHIC OF MONEY MAGAZINE] INVEST IN THE SWEET SPOT
Top 6 Companies
"All signs point to CAH's growth continuing...CAH will outperform the market"
[LOGO AND GRAPHIC OF SMART MONEY MAGAZINE] WEALTH CARE
Blue-Chip Health Investments
"There is no better way to take advantage of all the trends...than by owning
CAH"
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
CAH PRICE PERFORMANCE VS. INDICES
12/31/99 TO 6/25/02
--------------------------------------------------------------------------------
12/31/1999=100
LINE GRAPH DEPICTING PERFORMANCE OF CAH STOCK PRICE, S&P 500, DJIA, NASDAQ &
PHARMACEUTICAL INDEX
Date CAH S&P 500 DJIA NASDAQ Pharma
12/31/1999 100 100 100 100 100
1/3/2000 103 99.05 98.79 101.52 99.63
1/4/2000 101.83 95.25 95.66 95.88 95.39
1/5/2000 109.01 95.43 96.74 95.29 97.26
1/6/2000 112.79 95.52 97.88 91.59 99.86
1/7/2000 122.98 98.11 100.22 95.41 108.11
1/10/2000 116.97 99.21 100.65 99.52 105.82
1/11/2000 117.75 97.91 100.12 96.36 104.91
1/12/2000 119.84 97.48 100.47 94.61 105.12
1/13/2000 122.58 98.67 100.74 97.25 106.13
1/14/2000 124.02 99.72 101.96 99.88 107.48
1/18/2000 118.02 99.04 100.55 101.51 105
1/19/2000 121.8 99.09 99.93 102.01 106.37
1/20/2000 111.75 98.39 98.73 102.95 104.98
1/21/2000 108.88 98.1 97.87 104.08 104.27
1/24/2000 106.53 95.39 95.75 100.66 99.18
1/25/2000 103.26 95.97 95.94 102.41 99.8
1/26/2000 103.13 95.57 95.96 100.01 100.67
1/27/2000 103.52 95.19 95.92 99.27 100.82
1/28/2000 101.83 92.58 93.4 95.52 102.91
1/31/2000 99.61 94.91 95.16 96.83 106.25
2/1/2000 104.31 95.92 96.03 99.57 105.8
2/2/2000 99.74 95.91 95.7 100.11 105.71
2/3/2000 99.87 96.99 95.79 103.48 105.82
2/4/2000 102.87 96.95 95.36 104.3 105.12
2/7/2000 103.39 96.94 94.86 106.2 106.02
2/8/2000 107.05 98.13 95.31 108.8 107.51
2/9/2000 104.57 96.08 93.06 107.22 104.25
2/10/2000 102.74 96.43 92.58 110.23 101.51
2/11/2000 98.3 94.41 90.68 108.01 98.29
2/14/2000 95.82 94.6 91.5 108.58 99.86
2/15/2000 92.82 95.43 93.22 108.64 100.88
2/16/2000 94.39 94.45 91.86 108.81 100.82
2/17/2000 93.34 94.49 91.45 111.79 99.74
2/18/2000 91.91 91.62 88.89 108.41 96.66
2/22/2000 94.13 92.03 89.63 107.69 97.9
2/23/2000 93.6 92.61 88.94 111.82 97.32
2/24/2000 91.25 92.12 87.78 113.48 95.45
2/25/2000 89.95 90.75 85.78 112.81 93.39
2/28/2000 89.29 91.75 87.31 112.5 93.57
2/29/2000 87.34 93 88.09 115.42 93.63
3/1/2000 81.46 93.87 88.18 117.56 91.71
3/2/2000 81.07 94.05 88.41 116.84 92.18
3/3/2000 83.81 95.91 90.17 120.78 91.83
3/6/2000 81.98 94.69 88.46 120.53 89.06
3/7/2000 77.68 92.27 85.2 119.13 83.89
3/8/2000 80.42 93.02 85.73 120.34 89.04
3/9/2000 85.51 95.4 87.07 124.02 94.25
3/10/2000 87.34 94.95 86.36 124.07 93.95
3/13/2000 85.64 94.17 86.52 120.59 91.44
3/14/2000 84.99 92.51 85.34 115.66 89.33
3/15/2000 90.34 94.75 88.12 112.61 95.64
3/16/2000 101.57 99.27 92.46 115.93 101.23
3/17/2000 100.65 99.67 92.16 117.91 98.14
3/20/2000 97.91 99.14 92.89 113.29 97.09
3/21/2000 100.26 101.68 94.87 115.79 99.43
3/22/2000 102.48 102.14 94.52 119.55 99.82
3/23/2000 104.18 103.95 96.72 121.41 98.58
3/24/2000 103.52 103.96 96.66 121.96 95.44
3/27/2000 99.61 103.72 95.9 121.85 94.78
3/28/2000 98.3 102.62 95.12 118.79 95.72
3/29/2000 96.08 102.67 95.84 114.14 98.48
3/30/2000 95.95 101.27 95.5 109.55 98.14
3/31/2000 95.82 102 95 112.37 98.37
4/3/2000 101.31 102.5 97.61 103.79 102.79
4/4/2000 102.35 101.73 97.11 101.96 106.58
4/5/2000 101.96 101.23 95.97 102.46 105.08
4/6/2000 100 102.18 96.67 104.87 102.82
4/7/2000 100.13 103.21 96.65 109.27 102.24
4/10/2000 100.65 102.4 97.3 102.92 104.1
4/11/2000 100.13 102.13 98.17 99.67 106.55
4/12/2000 101.7 99.86 96.76 92.64 105.75
4/13/2000 99.74 98.04 95.01 90.35 105.76
4/14/2000 95.82 92.33 89.64 81.62 102.01
4/17/2000 96.08 95.38 92.04 86.97 103.91
4/18/2000 99.74 98.12 93.65 93.22 106.75
4/19/2000 108.09 97.16 92.85 91.08 106.96
4/20/2000 109.66 97.64 94.32 89.55 106.95
4/24/2000 110.57 97.32 94.86 85.58 108.94
4/25/2000 115.54 100.56 96.76 91.2 109.19
4/26/2000 114.75 99.44 95.2 89.21 108.6
4/27/2000 115.8 99.71 94.7 92.74 108.1
4/28/2000 115.01 98.86 93.36 94.87 106.52
5/1/2000 120.1 99.93 94.04 97.27 105.65
5/2/2000 120.1 98.44 93.34 93.02 107.2
5/3/2000 116.84 96.31 91.15 91.1 106.17
5/4/2000 117.75 95.94 90.57 91.42 106.52
5/5/2000 119.58 97.51 92 93.8 110.26
5/8/2000 121.02 96.93 92.23 90.17 113.04
5/9/2000 122.45 96.11 91.65 88.1 111.43
5/10/2000 119.97 94.13 90.18 83.18 109.71
5/11/2000 121.41 95.82 91.73 86 108.33
5/12/2000 119.97 96.71 92.28 86.72 108.72
5/15/2000 125.72 98.85 94 88.66 111.1
5/16/2000 130.94 99.78 95.11 91.36 111.75
5/17/2000 128.46 98.54 93.67 89.57 111.25
5/18/2000 126.5 97.82 93.74 86.96 112.1
5/19/2000 127.42 95.76 92.43 83.32 112.95
5/22/2000 128.98 95.34 91.7 82.67 111.78
5/23/2000 131.98 93.51 90.65 77.77 112.5
5/24/2000 134.07 95.22 91.63 80.37 113.64
5/25/2000 133.42 94.03 89.8 78.77 113.87
5/26/2000 135.25 93.79 89.58 78.76 113.23
5/30/2000 138.12 96.81 91.56 85.01 112.8
5/31/2000 135.51 96.69 91.52 83.57 113.06
6/1/2000 139.29 98.61 92.65 88.04 112.62
6/2/2000 132.77 100.55 93.89 93.71 108.34
6/5/2000 129.76 99.89 94.07 93.92 108.1
6/6/2000 131.46 99.22 93.38 92.31 109.26
6/7/2000 132.64 100.14 94.05 94.35 109.72
6/8/2000 131.59 99.48 92.79 94.01 109.69
6/9/2000 137.73 99.16 92.32 95.22 110.51
6/12/2000 138.12 98.42 91.89 92.59 109.97
6/13/2000 138.38 100.01 92.39 94.64 113.84
6/14/2000 143.99 100.09 92.96 93.32 115.71
6/15/2000 143.08 100.65 93.2 94.51 116.58
6/16/2000 137.86 99.67 90.89 94.87 116.89
6/19/2000 139.69 101.14 91.83 98.05 118.05
6/20/2000 140.6 100.46 90.76 98.63 116.12
6/21/2000 142.82 100.67 91.31 99.87 117.99
6/22/2000 137.99 98.84 90.25 96.74 114.85
6/23/2000 136.94 98.11 90.5 94.5 115.62
6/26/2000 140.73 99.05 91.7 96.14 117.97
6/27/2000 143.99 98.73 91.37 94.83 118.85
6/28/2000 148.29 99.02 91.57 96.83 118.35
6/29/2000 146.87 98.17 90.44 95.28 120.81
6/30/2000 154.57 99 90.87 97.46 123.35
7/3/2000 154.18 100.02 91.85 98.1 122.75
7/5/2000 151.63 98.43 91.18 94.93 124.2
7/6/2000 151.04 99.14 91.17 97.33 122.49
7/7/2000 150.91 100.66 92.51 98.87 121.95
7/10/2000 152.35 100.43 92.6 97.81 124
7/11/2000 154.57 100.79 93.3 97.23 124.9
7/12/2000 150.26 101.61 93.79 100.74 122.52
7/13/2000 147.26 101.81 93.84 102.59 117.13
7/14/2000 142.04 102.77 94.05 104.35 114.92
7/17/2000 141.84 102.81 93.97 105.05 117.76
7/18/2000 144.13 101.67 93.41 102.65 116.53
7/19/2000 147.26 100.87 93.03 99.66 115.08
7/20/2000 150.39 101.79 94.32 102.83 112.97
7/21/2000 150.91 100.74 93.36 100.62 114.18
7/24/2000 154.05 99.66 92.94 97.84 117.36
7/25/2000 151.7 100.36 93.07 99.02 114.57
7/26/2000 148.61 98.85 91.47 97.99 112.74
7/27/2000 153.39 98.66 92.08 94.42 115.06
7/28/2000 153.39 96.64 91.42 90.02 115.28
7/31/2000 153.52 97.39 91.52 92.57 113.9
8/1/2000 156.66 97.88 92.26 90.57 118.41
8/2/2000 157.44 97.92 92.96 89.9 119.74
8/3/2000 157.44 98.86 93.12 92.4 120.04
8/4/2000 155.09 99.57 93.66 93.07 119.05
8/7/2000 151.04 100.69 94.52 94.93 118.27
8/8/2000 151.17 100.92 95.48 94.58 118.21
8/9/2000 147.39 100.25 94.86 94.7 111.33
8/10/2000 150.26 99.39 94.88 92.4 112.17
8/11/2000 153.52 100.18 95.92 93.12 113.23
8/14/2000 155.74 101.52 97.21 94.6 112.84
8/15/2000 155.61 101.03 96.26 94.65 112.85
8/16/2000 154.7 100.72 95.75 94.89 113.97
8/17/2000 161.62 101.83 96.16 96.84 114.76
8/18/2000 161.88 101.53 96.08 96.58 112.01
8/21/2000 163.71 102.06 96.37 97.15 113.77
8/22/2000 165.14 101.97 96.89 97.27 113.37
8/23/2000 162.4 102.5 96.93 98.57 114.17
8/24/2000 166.19 102.66 97.27 99.61 114.4
8/25/2000 165.93 102.53 97.35 99.35 115.42
8/28/2000 165.8 103.05 97.88 100.03 114.17
8/29/2000 166.58 102.76 97.55 100.32 112.45
8/30/2000 167.62 102.27 96.57 100.85 112.53
8/31/2000 170.93 103.3 97.55 103.37 113.19
9/1/2000 175.91 103.51 97.75 104.06 113.34
9/5/2000 176.37 102.57 97.94 101.82 110.08
9/6/2000 172.98 101.57 98.38 98.62 106.92
9/7/2000 171.67 102.26 97.94 100.71 109.05
9/8/2000 172.85 101.72 97.6 97.77 109.67
9/11/2000 173.37 101.36 97.38 95.75 109.99
9/12/2000 176.24 100.87 97.7 94.6 110.85
9/13/2000 177.02 101.07 97.26 95.69 111.87
9/14/2000 181.46 100.79 96.44 96.18 111.2
9/15/2000 183.81 99.77 95.04 94.25 110.6
9/18/2000 186.62 98.32 94.01 91.58 110.46
9/19/2000 192.82 99.36 93.84 94.99 110.62
9/20/2000 193.21 98.78 92.96 95.78 111.28
9/21/2000 191.25 98.63 93.64 94.09 115.14
9/22/2000 192.95 98.6 94.35 93.47 118.79
9/25/2000 193.6 97.94 94.01 91.94 118.1
9/26/2000 198.56 97.14 92.47 90.66 117.08
9/27/2000 194.26 97.1 92.44 89.85 116.9
9/28/2000 189.95 99.25 94.15 92.85 117.83
9/29/2000 184.2 97.77 92.64 90.26 118.7
10/2/2000 190.08 97.75 93.07 87.7 116.72
10/3/2000 193.86 97.09 93.24 84.92 116.88
10/4/2000 190.6 97.62 93.8 86.58 115
10/5/2000 192.04 97.76 93.28 85.32 118.02
10/6/2000 190.73 95.9 92.17 82.59 117.39
10/9/2000 188.38 95.42 91.92 82.46 116.12
10/10/2000 190.86 94.4 91.54 79.63 118.88
10/11/2000 186.29 92.88 90.58 77.86 119.72
10/12/2000 184.99 90.51 87.28 75.56 120.06
10/13/2000 186.29 93.53 88.65 81.51 118.51
10/16/2000 187.86 93.56 89.06 80.86 120.33
10/17/2000 194.39 91.88 87.76 78.98 121.84
10/18/2000 196.61 91.35 86.76 77.94 120.37
10/19/2000 193.73 94.52 88.22 84.01 118.56
10/20/2000 195.56 95.08 88.95 85.6 119.8
10/23/2000 198.17 95 89.34 85.24 123.48
10/24/2000 187.47 95.16 90.4 84.04 122.18
10/25/2000 187.99 92.9 89.82 79.36 125.18
10/26/2000 186.81 92.87 90.28 80.41 124.56
10/27/2000 190.6 93.9 92.12 80.56 122.55
10/30/2000 198.96 95.2 94.25 78.43 122.92
10/31/2000 197.91 97.29 95.43 82.81 122.86
11/1/2000 195.82 96.73 94.8 81.92 124.03
11/2/2000 191.64 97.21 94.64 84.27 123.53
11/3/2000 195.3 97.1 94.09 84.82 122.65
11/6/2000 198.3 97.48 95.48 83.95 124.32
11/7/2000 198.43 97.46 95.26 83.94 123.33
11/8/2000 199.87 95.92 94.87 79.42 125.82
11/9/2000 191.91 95.3 94.23 78.65 125.38
11/10/2000 192.04 92.97 92.22 74.43 125.9
11/13/2000 189.43 91.97 91.48 72.9 121.3
11/14/2000 192.3 94.13 92.9 77.12 123.67
11/15/2000 196.21 94.59 93.13 77.79 124.76
11/16/2000 204.44 93.4 92.68 74.51 123.89
11/17/2000 203.26 93.09 92.46 74.39 124.15
11/20/2000 207.05 91.38 91 70.67 124.62
11/21/2000 202.22 91.7 91.28 70.56 126.56
11/22/2000 210.31 90 90.45 67.71 125.16
11/24/2000 208.75 91.32 91.07 71.37 123.94
11/27/2000 211.23 91.81 91.73 70.79 128.05
11/28/2000 210.31 90.94 91.39 67.21 129.24
11/29/2000 209.66 91.33 92.45 66.52 131.63
11/30/2000 208.75 89.5 90.58 63.84 128.89
12/1/2000 207.83 89.52 90.23 65.01 125.64
12/4/2000 197.52 90.18 91.85 64.28 127.67
12/5/2000 199.48 93.69 94.8 71.01 127.61
12/6/2000 201.57 91.98 92.76 68.72 124.27
12/7/2000 199.74 91.44 92.35 67.64 125.15
12/8/2000 194.13 93.24 93.18 71.69 125.4
12/11/2000 191.12 93.94 93.29 74.09 125.7
12/12/2000 193.08 93.33 93.66 72.05 126.08
12/13/2000 198.43 92.56 93.89 69.37 128.63
12/14/2000 198.96 91.27 92.85 67.05 127.29
12/15/2000 197.26 89.31 90.76 65.2 126.12
12/18/2000 192.17 90.03 92.59 64.5 127.49
12/19/2000 196.61 88.86 92.06 61.72 129.36
12/20/2000 190.6 86.08 89.75 57.33 129.65
12/21/2000 196.08 86.77 91.22 57.51 126.7
12/22/2000 196.47 88.89 92.51 61.85 126.61
12/26/2000 206.14 89.51 93 61.28 128.82
12/27/2000 211.75 90.45 93.96 62.4 129.68
12/28/2000 216.97 90.81 94.53 62.85 131.66
12/29/2000 208.09 89.86 93.82 60.71 131.29
1/2/2001 203.13 87.34 92.6 56.32 129.06
1/3/2001 197.91 91.72 95.2 64.3 123.82
1/4/2001 183.81 90.75 94.91 63.08 118.45
1/5/2001 192.69 88.37 92.74 59.17 118.19
1/8/2001 194.26 88.2 92.38 58.88 118.02
1/9/2001 197.65 88.53 91.96 59.99 120.73
1/10/2001 195.95 89.38 92.23 62.03 118.84
1/11/2001 198.04 90.31 92.28 64.89 115.98
1/12/2001 198.96 89.73 91.55 64.54 117.47
1/16/2001 195.43 90.29 92.66 64.35 119.53
1/17/2001 195.82 90.49 92.06 65.93 116.65
1/18/2001 197.52 91.75 92.88 68.03 118.55
1/19/2001 195.82 91.38 92.09 68.08 117.43
1/22/2001 195.82 91.4 92.01 67.77 119.15
1/23/2001 202.48 92.59 92.63 69.8 119.03
1/24/2001 202.35 92.86 92.61 70.26 118.2
1/25/2001 208.88 92.39 93.32 67.68 121.29
1/26/2001 208.22 92.22 92.72 68.35 121.09
1/29/2001 208.98 92.85 93.09 69.75 119.12
1/30/2001 201.57 93.5 94.64 69.75 119.58
1/31/2001 199.06 92.97 94.7 68.14 120.4
2/1/2001 199.48 93.48 95.53 68.38 122.05
2/2/2001 200.25 91.85 94.49 65.38 122.39
2/5/2001 202.61 92.18 95.38 64.95 122.6
2/6/2001 200.84 92.04 95.31 65.48 122.51
2/7/2001 204.18 91.26 95.21 64.09 121.76
2/8/2001 207.31 90.69 94.64 62.96 121.96
2/9/2001 205.28 89.49 93.78 60.72 122.65
2/12/2001 210.11 90.54 95.21 61.18 124.36
2/13/2001 208.06 89.76 94.84 59.66 121.22
2/14/2001 208.98 89.56 93.9 61.22 120.12
2/15/2001 210.34 90.29 94.73 62.74 119.11
2/16/2001 209.92 88.58 93.94 59.6 118.26
2/20/2001 209.63 87.05 93.34 56.97 118.19
2/21/2001 208.4 85.44 91.56 55.76 118.89
2/22/2001 206.85 85.27 91.56 55.17 118.05
2/23/2001 210.63 84.8 90.82 55.6 117.6
2/26/2001 205.54 86.28 92.57 56.73 119.66
2/27/2001 204.7 85.62 92.52 54.26 119.66
2/28/2001 212.01 84.39 91.29 52.88 120.33
3/1/2001 209.09 84.48 90.89 53.65 119.51
3/2/2001 204.7 84 91.03 52.04 119.58
3/5/2001 203.11 84.49 91.87 52.66 119.52
3/6/2001 206.16 85.34 92.12 54.17 117.41
3/7/2001 207.67 85.89 93.32 54.65 114.27
3/8/2001 214.14 86.08 94.44 53.29 115.11
3/9/2001 211.17 83.95 92.59 50.45 115.72
3/12/2001 207.33 80.32 88.79 47.27 112.07
3/13/2001 210.44 81.52 89.51 49.51 111.65
3/14/2001 207.83 79.41 86.75 48.46 109.29
3/15/2001 198.96 79.87 87.25 47.69 109.3
3/16/2001 185.9 78.31 85.44 46.47 105.94
3/19/2001 191.31 79.69 86.62 47.95 107.65
3/20/2001 196.87 77.77 84.55 45.65 105.67
3/21/2001 193.11 76.38 82.52 44.98 102.04
3/22/2001 184.98 76.06 81.67 46.63 102.13
3/23/2001 186.76 77.58 82.67 47.4 104.29
3/26/2001 190.41 78.45 84.26 47.15 106.55
3/27/2001 191.96 80.46 86.52 48.47 108.74
3/28/2001 193.11 78.5 85.11 45.56 110.04
3/29/2001 195.55 78.13 85.23 44.74 110.16
3/30/2001 202.09 78.97 85.92 45.22 111.26
4/2/2001 198.89 77.99 85.05 43.82 108.16
4/3/2001 194.15 75.31 82.51 41.11 106.19
4/4/2001 194.53 75.09 82.76 40.27 107.78
4/5/2001 199.92 78.37 86.27 43.86 110.53
4/6/2001 200.31 76.8 85.16 42.28 110.54
4/9/2001 200.52 77.43 85.63 42.9 112.42
4/10/2001 200.98 79.52 87.87 45.51 111.63
4/11/2001 193.57 79.35 87.1 46.67 109.11
4/12/2001 198.33 80.55 88.08 48.2 111.06
4/16/2001 198.22 80.29 88.36 46.93 111.67
4/17/2001 197.6 81.12 88.86 47.26 114.86
4/18/2001 200.94 84.27 92.33 51.1 113.36
4/19/2001 199.48 85.33 93.01 53.62 111.32
4/20/2001 200.73 84.6 92.02 53.16 110.22
4/23/2001 203.84 83.33 91.61 50.61 110.52
4/24/2001 202.09 82.32 90.93 49.56 108.89
4/25/2001 209.14 83.63 92.42 50.62 111.08
4/26/2001 204.19 84.02 93 50.01 112.67
4/27/2001 202.9 85.29 94.02 51.01 114.33
4/30/2001 211.17 85.04 93.37 52 114.87
5/1/2001 213.05 86.2 94.79 53.28 114.88
5/2/2001 210.7 86.26 94.6 54.57 114.25
5/3/2001 207.01 84.98 93.91 52.74 113.11
5/4/2001 206.94 86.21 95.25 53.86 115
5/7/2001 208.48 86 95.11 53.41 115.61
5/8/2001 211.99 85.84 94.66 54.03 115.31
5/9/2001 215.31 85.45 94.52 53 115.79
5/10/2001 216.19 85.43 94.9 52.32 114.45
5/11/2001 220.89 84.78 94.12 51.79 114.14
5/14/2001 219.32 85 94.61 51.16 114.8
5/15/2001 216.72 85.04 94.57 51.25 114.52
5/16/2001 219.32 87.46 97.55 53.24 118.65
5/17/2001 219.6 87.7 97.84 53.91 119.96
5/18/2001 218.51 87.93 98.3 54.04 119.05
5/21/2001 216.03 89.35 98.62 56.66 119.66
5/22/2001 213.05 89.12 97.91 56.86 118.13
5/23/2001 213.81 87.74 96.59 55.13 116.65
5/24/2001 225.62 88.02 96.74 56.08 116.08
5/25/2001 225.59 86.98 95.72 55.32 115.2
5/29/2001 226.53 86.3 96.02 53.46 116.88
5/30/2001 224.8 84.95 94.57 51.22 116.42
5/31/2001 225.56 85.47 94.91 51.86 116.42
6/1/2001 225.9 85.8 95.59 52.82 117.9
6/4/2001 227.81 86.24 96.21 52.98 119.15
6/5/2001 226.53 87.36 97.21 54.89 120.08
6/6/2001 225.59 86.44 96.29 54.5 118.76
6/7/2001 227.37 86.91 96.47 55.64 119.48
6/8/2001 230.47 86.1 95.48 54.43 118.61
6/11/2001 227.53 85.38 95 53.35 117.09
6/12/2001 233.73 85.48 95.23 53.32 117.01
6/13/2001 234.55 84.51 94.56 52.14 116.66
6/14/2001 233.73 83.03 92.98 50.23 116.97
6/15/2001 234.67 82.65 92.4 49.85 116.65
6/18/2001 237.81 82.25 92.59 48.87 117.23
6/19/2001 236.08 82.53 92.17 48.97 118.02
6/20/2001 241.25 83.25 92.61 49.92 119.14
6/21/2001 239.06 84.2 93.2 50.59 119.4
6/22/2001 232.23 83.4 92.24 50 114.61
6/25/2001 231.45 82.94 91.36 50.4 113.37
6/26/2001 230.22 82.82 91.09 50.74 112.97
6/27/2001 222.45 82.43 90.76 50.99 111.21
6/28/2001 214.93 83.46 91.9 52.23 112.08
6/29/2001 216.19 83.34 91.35 53.11 108.72
7/2/2001 215.4 84.17 92.14 52.8 110.64
7/3/2001 216.34 84.02 91.95 52.61 110.36
7/5/2001 214.78 82.98 91.15 51.12 109.12
7/6/2001 213.15 81.03 89.18 49.25 108.31
7/9/2001 212.99 81.59 89.58 49.8 110.75
7/10/2001 210.8 80.42 88.51 48.23 110.11
7/11/2001 212.11 80.33 89.07 48.46 108.99
7/12/2001 214.93 82.23 91.14 51.01 106.79
7/13/2001 213.05 82.74 91.67 51.23 108.17
7/16/2001 222.33 81.84 91.08 49.86 107.35
7/17/2001 224.02 82.66 92.25 50.8 109.16
7/18/2001 228.63 82.2 91.93 49.55 112.96
7/19/2001 227.37 82.7 92.28 50.29 112.97
7/20/2001 228.78 82.41 91.99 49.87 113.55
7/23/2001 224.24 81.06 90.67 48.87 111.42
7/24/2001 221.89 79.74 89.08 48.15 109.81
7/25/2001 225.46 81.03 90.51 48.76 110.67
7/26/2001 222.45 81.87 90.94 49.71 110.81
7/27/2001 220.7 82.07 90.6 49.86 111.12
7/30/2001 228.06 81.98 90.47 49.59 112.09
7/31/2001 230.69 82.44 91.53 49.82 114.74
8/1/2001 232.98 82.76 91.41 50.83 114.15
8/2/2001 228.03 83.09 91.77 51.3 113.55
8/3/2001 224.58 82.65 91.44 50.78 113.5
8/6/2001 231.07 81.71 90.47 49.99 112.91
8/7/2001 228.72 81.97 90.97 49.83 113.67
8/8/2001 228.38 80.55 89.53 48.32 112.48
8/9/2001 229.19 80.55 89.58 48.25 112.74
8/10/2001 232.7 81 90.6 48.08 114.04
8/13/2001 234.77 81.08 90.6 48.71 114.74
8/14/2001 232.79 80.77 90.56 48.28 115
8/15/2001 231.67 80.18 89.99 47.16 114.63
8/16/2001 230.51 80.43 90.39 47.44 114.4
8/17/2001 227.62 79.09 89.07 45.88 113.63
8/20/2001 228.09 79.73 89.76 46.23 114.78
8/21/2001 232.17 78.77 88.49 45 114.04
8/22/2001 235.27 79.31 89.39 45.71 114.99
8/23/2001 234.36 79.09 88.97 45.29 114.74
8/24/2001 235.93 80.65 90.66 47.1 115.88
8/27/2001 233.58 80.26 90.3 47 115.09
8/28/2001 229.03 79.05 88.91 45.83 113.42
8/29/2001 228.72 78.18 87.77 45.29 112.11
8/30/2001 228.88 76.84 86.28 44.03 110.97
8/31/2001 228.53 77.15 86.54 44.37 109.85
9/4/2001 230.91 77.11 86.96 43.52 111.73
9/5/2001 231.32 77.03 87.27 43.23 114.13
9/6/2001 229.72 75.3 85.59 41.91 112.15
9/7/2001 220.42 73.9 83.55 41.47 109.49
9/10/2001 219.32 74.36 83.55 41.66 111.25
9/17/2001 222.45 70.7 77.59 38.82 111.11
9/18/2001 217.44 70.29 77.44 38.21 109.83
9/19/2001 217.79 69.16 76.19 37.54 107.98
9/20/2001 218.57 67.01 72.85 36.15 106.39
9/21/2001 213.12 65.73 71.63 34.97 103.71
9/24/2001 215.37 68.3 74.83 36.85 103.82
9/25/2001 218.38 68.9 75.32 36.9 105.32
9/26/2001 220.1 68.54 74.52 35.98 107.91
9/27/2001 226.06 69.33 75.51 35.9 111.23
9/28/2001 231.7 70.85 76.95 36.83 111.95
10/1/2001 230.29 70.69 76.86 36.38 113.78
10/2/2001 230.13 71.56 77.85 36.67 114.64
10/3/2001 229.97 72.98 79.36 38.85 113.12
10/4/2001 232.92 72.8 78.81 39.25 112.27
10/5/2001 233.86 72.92 79.32 39.45 113.97
10/8/2001 231.7 72.31 78.87 39.46 113.18
10/9/2001 230.29 71.92 78.74 38.59 112.48
10/10/2001 232.61 73.57 80.38 39.96 114.59
10/11/2001 231.41 74.69 81.85 41.81 113.52
10/12/2001 230.91 74.3 81.27 41.86 113.98
10/15/2001 234.99 74.19 81.3 41.69 115.21
10/16/2001 234.55 74.7 81.62 42.32 115.29
10/17/2001 232.76 73.31 80.31 40.46 114.95
10/18/2001 234.99 72.73 79.7 40.61 114.44
10/19/2001 234.99 73.06 80.06 41.07 114.79
10/22/2001 240 74.18 81.56 41.97 117.11
10/23/2001 222.45 73.83 81.24 41.89 115.37
10/24/2001 222.92 73.86 81.29 42.55 115.31
10/25/2001 224.65 74.87 82.31 43.63 115.49
10/26/2001 225.27 75.18 83.02 43.47 115.27
10/29/2001 222.58 73.39 80.62 41.76 114.51
10/30/2001 213.68 72.13 79.34 40.98 113.29
10/31/2001 210.27 72.13 78.93 41.54 112.46
11/1/2001 205.69 73.79 80.58 42.91 113.98
11/2/2001 203.84 74 81.09 42.9 113.56
11/5/2001 212.65 75.06 82.12 44.08 113.73
11/6/2001 205.22 76.15 83.42 45.1 114.95
11/7/2001 200.21 75.94 83.1 45.16 114.12
11/8/2001 192.69 76.13 83.39 44.92 114.05
11/9/2001 198.33 76.25 83.57 44.93 113.54
11/12/2001 197.51 76.12 83.1 45.22 113.35
11/13/2001 203.81 77.53 84.81 46.5 113.95
11/14/2001 205.57 77.67 85.44 46.77 113.41
11/15/2001 208.2 77.74 85.87 46.7 113.76
11/16/2001 208.82 77.5 85.82 46.66 114.23
11/19/2001 213.37 78.34 86.77 47.54 115.66
11/20/2001 216.28 77.77 86.12 46.21 116.05
11/21/2001 219.16 77.39 85.54 46.08 117.47
11/23/2001 219.01 78.29 86.63 46.77 117.82
11/26/2001 218.85 78.78 86.83 47.7 118.62
11/27/2001 215.56 78.24 85.87 47.57 117.66
11/28/2001 211.77 76.81 84.47 46.4 116.43
11/29/2001 212.9 77.6 85.49 47.51 117.01
11/30/2001 214.06 77.55 85.69 47.44 117.03
12/3/2001 214.68 76.9 84.93 46.81 117.46
12/4/2001 215.78 77.92 86.05 48.24 116.69
12/5/2001 211.55 79.66 87.97 50.3 116.31
12/6/2001 206.63 79.44 87.84 50.48 116.13
12/7/2001 207.23 78.84 87.41 49.67 116.43
12/10/2001 202.93 77.59 86.3 48.95 114.85
12/11/2001 199.58 77.37 86.01 49.2 112.42
12/12/2001 203.59 77.39 86.06 49.43 110.58
12/13/2001 199.43 76.19 84.95 47.83 109.71
12/14/2001 205.82 76.44 85.34 48 109.98
12/17/2001 205.07 77.21 86.04 48.84 111.05
12/18/2001 199.02 77.79 86.96 49.27 111.6
12/19/2001 199.58 78.24 87.59 48.73 112.66
12/20/2001 198.33 77.59 86.85 47.15 113.05
12/21/2001 198.74 77.92 87.29 47.82 113.57
12/24/2001 200.71 77.91 87.29 47.78 113.45
12/26/2001 200.62 78.23 87.74 48.18 113.55
12/27/2001 198.55 78.76 88.12 48.57 113.36
12/28/2001 203.66 79.02 88.17 48.84 113.27
12/31/2001 202.59 78.14 87.17 47.93 111.67
1/2/2002 200.71 78.59 87.62 48.64 111.6
1/3/2002 200.37 79.31 88.48 50.24 110.73
1/4/2002 198.2 79.8 89.24 50.61 110.44
1/7/2002 196.51 79.28 88.69 50.06 110.05
1/8/2002 195.29 79 88.29 50.52 109.75
1/9/2002 193.03 78.62 87.8 50.25 109.58
1/10/2002 190.81 78.72 87.57 50.31 111.14
1/11/2002 190.5 77.97 86.87 49.7 111.31
1/14/2002 195.38 77.48 86.03 48.92 111.21
1/15/2002 198.33 78.01 86.32 49.17 110.89
1/16/2002 197.23 76.74 84.48 47.78 110.65
1/17/2002 195.88 77.51 85.67 48.8 110.45
1/18/2002 194.01 76.75 84.99 47.44 109.6
1/22/2002 210.52 76.18 84.49 46.26 111.25
1/23/2002 213.87 76.79 84.64 47.24 112.18
1/24/2002 208.98 77.06 85.2 47.74 110.57
1/25/2002 208.95 77.13 85.59 47.62 109.99
1/28/2002 208.04 77.12 85.81 47.77 109.53
1/29/2002 203.19 74.91 83.66 46.52 108.23
1/30/2002 205.54 75.79 84.92 47.02 109.21
1/31/2002 206.51 76.92 86.28 47.53 110.16
2/1/2002 206.57 76.38 86.17 46.97 110.41
2/4/2002 204.13 74.49 84.26 45.6 108.16
2/5/2002 204.28 74.19 84.24 45.18 108.91
2/6/2002 198.49 73.75 83.96 44.55 107.49
2/7/2002 202.09 73.52 83.72 43.79 106.63
2/8/2002 202.37 74.61 84.75 44.7 108.14
2/11/2002 206.79 75.68 85.98 45.38 109.24
2/12/2002 209.14 75.38 85.79 45.07 110.32
2/13/2002 210.08 76.13 86.89 45.69 110.73
2/14/2002 206.79 75.99 87 45.3 109.93
2/15/2002 207.1 75.15 86.13 44.36 110.28
2/19/2002 202.81 73.73 84.76 43.02 108.86
2/20/2002 204.31 74.73 86.47 43.63 111.09
2/21/2002 203.37 73.57 85.54 42.18 110
2/22/2002 205.35 74.18 86.7 42.38 111.39
2/25/2002 205.47 75.51 88.25 43.49 111.06
2/26/2002 205.41 75.51 87.98 43.42 111.04
2/27/2002 207.73 75.54 88.09 43.05 111.66
2/28/2002 207.07 75.33 87.9 42.55 111.64
3/1/2002 207.73 77.03 90.19 44.3 113.66
3/4/2002 206.98 78.53 92.08 45.69 114.04
3/5/2002 201.78 78.01 90.75 45.86 111.87
3/6/2002 205.69 79.14 91.97 46.46 113.61
3/7/2002 206.47 78.78 91.55 46.24 113.36
3/8/2002 204.44 79.25 91.96 47.42 112.38
3/11/2002 206.69 79.51 92.29 47.42 112.57
3/12/2002 207.82 79.33 92.48 46.62 112.98
3/13/2002 209.11 78.55 91.34 45.76 113.8
3/14/2002 209.95 78.48 91.48 45.56 113.7
3/15/2002 216.38 79.37 92.26 45.91 114.76
3/18/2002 219.01 79.33 92 46.13 114.03
3/19/2002 217.91 79.65 92.5 46.22 114.13
3/20/2002 216.19 78.4 91.34 45.04 111.01
3/21/2002 218.85 78.52 91.15 45.92 111.49
3/22/2002 219.48 78.18 90.7 45.5 111.74
3/25/2002 215.28 77.04 89.43 44.54 110.38
3/26/2002 217.03 77.49 90.05 44.83 110.34
3/27/2002 221.2 77.9 90.69 44.89 110.18
3/28/2002 222.11 78.09 90.49 45.35 110.15
4/1/2002 225.05 78.04 90.13 45.77 110.7
4/2/2002 223.93 77.37 89.71 44.34 109.72
4/3/2002 223.39 76.6 88.7 43.85 109.26
4/4/2002 219.6 76.66 89.02 43.98 106.5
4/5/2002 213.93 76.42 89.34 43.5 105.21
4/8/2002 214.25 76.59 89.14 43.89 105.27
4/9/2002 214.65 76.08 88.79 42.82 104.76
4/10/2002 218.07 76.94 90.3 43.42 106.39
4/11/2002 215.12 75.12 88.51 42.4 104.89
4/12/2002 214.84 75.62 88.64 43.16 105.47
4/15/2002 217.75 75.04 87.79 43.1 105.72
4/16/2002 219.16 76.8 89.6 44.65 106.99
4/17/2002 217.6 76.64 88.9 44.5 104.87
4/18/2002 220.1 76.53 88.76 44.29 106.71
4/19/2002 226.15 76.58 89.21 44.16 106.09
4/22/2002 228.72 75.4 88.16 43.22 104.63
4/23/2002 217.75 74.93 87.75 42.52 103.25
4/24/2002 217.38 74.4 87.24 42.1 103.01
4/25/2002 218.04 74.29 87.28 42.11 103.29
4/26/2002 218.85 73.26 86.2 40.89 102.34
4/29/2002 214.93 72.52 85.41 40.72 100.69
4/30/2002 217.13 73.3 86.51 41.49 100.63
5/1/2002 220.26 73.95 87.5 41.22 102.13
5/2/2002 221.98 73.82 87.78 40.42 101.84
5/3/2002 222.27 73.06 87.04 39.64 100.56
5/6/2002 222.33 71.65 85.31 38.79 98.75
5/7/2002 217.79 71.43 85.56 38.68 96.97
5/8/2002 219.7 74.11 88.21 41.68 100.08
5/9/2002 214.21 73.03 87.3 40.56 98.74
5/10/2002 211.64 71.8 86.46 39.34 97.85
5/13/2002 210.61 73.14 87.93 40.61 99.21
5/14/2002 210.23 74.68 89.57 42.24 101
5/15/2002 211.17 74.26 89.1 42.4 98.5
5/16/2002 211.9 74.75 89.49 42.52 97.43
5/17/2002 215.5 75.32 90.05 42.79 100.06
5/20/2002 212.05 74.32 88.97 41.82 99.04
5/21/2002 212.84 73.5 87.9 40.9 98.05
5/22/2002 211.77 73.92 88.35 41.12 99.05
5/23/2002 211.02 74.67 88.86 41.72 100.02
5/24/2002 209.45 73.77 87.89 40.83 98.34
5/28/2002 209.67 73.14 86.82 40.6 97.92
5/29/2002 208.92 72.67 86.31 39.92 98.13
5/30/2002 210.45 72.46 86.21 40.1 97.66
5/31/2002 208.23 72.63 86.33 39.71 97.74
6/3/2002 203.5 70.83 84.45 38.4 94.69
6/4/2002 199.43 70.83 84.26 38.78 94.08
6/5/2002 198.96 71.46 85.21 39.2 94.7
6/6/2002 197.48 70.05 83.71 38.21 91.89
6/7/2002 200.18 69.94 83.41 37.73 92.19
6/10/2002 205.5 70.15 83.89 37.62 93.61
6/11/2002 203.15 68.99 82.78 36.79 89.35
6/12/2002 194.26 69.44 83.65 37.33 89.23
6/13/2002 195.35 68.71 82.65 36.78 90.07
6/14/2002 194.07 68.56 82.41 36.98 90.41
6/17/2002 202.25 70.52 84.26 38.17 92.51
6/18/2002 200.33 70.59 84.42 37.92 92.49
6/19/2002 201.52 69.42 83.16 36.78 91.3
6/20/2002 204.16 68.49 82.04 36 90.26
6/21/2002 199.27 67.32 80.49 35.41 86.72
6/24/2002 196.26 67.57 80.73 35.89 87.49
6/25/2002 192.85 66.44 79.38 34.99 86.31
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
ABOUT CARDINAL HEALTH...
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o Our history
o Cardinal Health today
o Our strategy
o Our culture
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
OUR STRATEGY
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o Provide PROPRIETARY products and services IN HEALTHCARE
o Seek #1 or #2 position
o Use scale and resources to deliver exceptional value
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
OUR COMPETITIVE ADVANTAGES
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1 Growth markets
2 Leadership positions
3 Diversified portfolio
4 Disciplined margin & expense control
5 Economies of scale
6 Entrepreneurial culture
7 History of meeting challenging commitments
8 Organizational philosophy
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
BUILDING ON OUR ADVANTAGES
--------------------------------------------------------------------------------
INVESTMENT PHILOSOPHY -
INVESTMENTS IN PAST THREE YEARS
o $1.4 billion invested in capex and investment spending
o Capital expenditures ($1.1b)
- Rx Distribution capacity
- Manufacturing capability at Med-surg and Rx Technologies
o Investment spending ($250m)
- Puerto Rico, PTSC, new businesses
- R&D at Med-surg, Rx Technologies, and Pyxis
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
WHERE HAS CARDINAL BEEN?
--------------------------------------------------------------------------------
LAST THREE YEARS' EARNINGS GROWTH
o Strength of drug distribution
o Expansion of self-manufactured products
o Investment in proprietary Rx manufacturing capabilities
o New product penetration - Pyxis
o Benefits from cross selling
o Synergies from acquisitions (>$14B since 1991)
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
WHERE IS CARDINAL GOING?
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NEXT THREE YEARS' EARNINGS GROWTH MODEL
o Strong Rx Distribution growth
o Rapid growth of self-manufactured med-surg products
o Accelerating earnings growth at PTS
- Harvesting past investments and outsourcing opportunities
o Accelerating earnings growth at AIS
- New products and markets, patient safety
o Strong excess cash flow to fund external growth
- Next 3 years > $3B of operating cash flow
[CARDINAL HEALTH LOGO WITH FOUR REPRESENTATIVE GRAPHICS]
TOP 10 REASONS FOR OUR OPTIMISM
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o Favorable healthcare environment
o Leadership positions
o Scale
o Proprietary offerings
o Heavy past investments
o Superior resources
o Diversified business model
o Seasoned management team
o Risk and ownership orientation
o Tradition and culture
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ABOUT CARDINAL HEALTH...
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o Our history
o Cardinal Health today
o Our strategy
o Our culture
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FORTUNE: MOST ADMIRED COMPANIES 2001
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WHOLESALERS SCORE
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1. Cardinal Health 7.55
2. Sysco 6.64
3. Arrow Electronics 6.33
4. Tech Data 6.28
5. AmeriSource Health 6.23
6. Supervalu 5.98
7. McKesson 5.94
8. Fleming 5.63
9. Ingram Micro 5.59
10. Bergen Brunswig 5.07
Overall, Cardinal Health ranked #38,
out of 661 companies
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SO, HOW DOES CARDINAL RANK ON...
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INNOVATIVENESS QUALITY OF MANAGEMENT
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#1 Enron 9.28 #1 Omnicom Group 9.05
#2 Charles Schwab 9.09 #5 General Electric 8.88
#10 Medtronic 8.13 #10 Medtronic 8.47
#20 3M 7.83 #14 Viacom 8.44
#27 CARDINAL HEALTH 7.64 #17 CARDINAL HEALTH 8.26
#30 General Electric 7.58 #20 WalMart 8.24
#55 Pfizer 7.18 #25 Microsoft 8.18
#79 Sun Micro Systems 6.93 #30 Anheuser Busch 8.07
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WHAT IS IT WE DO?
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o Clear "line of sight"
o Leadership focus
o A winning culture
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A CLEAR LINE OF SIGHT
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o FOUR STRATEGIC DRIVERS
- Growth
- Customer focus
- Operational excellence
- Leadership development
*Company-wide effort to communicate these simple messages to all 49,000
employees/CEO Town Hall Meetings and Learning Maps
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LEADERSHIP PHILOSOPHY
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KEEP YOUR VALUE SYSTEM WELL-
AND MAKE SURE THE PEOPLE
YOU LEAD DO THE SAME
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CARDINAL CORE LEADERSHIP CRITERIA
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1. Customer orientation 6. Results orientation
2. Personal leadership 7. Integrity
3. Business acumen 8. Strategic thinker
4. Team player 9. Interpersonal skills
5. Innovation/risk taker 10. Maturity
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A WINNING CULTURE
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ORGANIZATIONAL PHILOSOPHY
o Culture encourages innovation, risk taking
o Decentralized management
o Efficiency and productivity - focus on results
o Economic literacy
o Commitment to shareholders
o Ethics
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KEEP YOUR VALUE SYSTEM WELL
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Promote a culture that's fair, truthful, open, and long-term oriented
CARDINAL HEALTH'S EPIC CORE VALUES:
o Ethical: we treat each other and customers fairly and honestly
o Performance-driven: we demand high standards from customers, ourselves,
colleagues
o Innovation: we create value by thinking beyond the obvious
o Collaboration: the spirit with which we create solutions
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MAKE PEOPLE YOUR GREATEST STRENGTH
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Our people's drive, talent and entrepreneurial spirit are exemplified by:
o Their use of our unmatched resources to compete
o Their relentless passion to succeed and win
o Their commitment to give back to the community
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ABOUT CARDINAL HEALTH...
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o Our history
o Cardinal Health today
o Our strategy
o Our culture
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WHY IS CARDINAL'S GROWTH SUSTAINABLE?
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o STRONG MARKETS - Rx and health care
o GROWTH TRENDS within health care
o LEADING POSITIONS, adding to advantage
o CROSS SELLING - expanding on platforms
o Philosophy of LONG-TERM INVESTING
o SUPERIOR RESOURCES
o Focused on DELIVERING FOR SHAREHOLDERS
o OUR CULTURE
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