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Downey is the former chairman and chief executive officer of Barr Pharmaceuticals, Inc. and past chairman of the Generic Pharmaceutical Association.
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"John McCoy has been a committed board member for more than two decades, and we extend our sincere appreciation for the invaluable guidance he has provided during a tenure that helped transform Cardinal Health into the industry leader it is today," said R. Kerry Clark, Cardinal Health chairman and chief executive officer. "John has been part of a tremendous growth story since 1987, and we wish him well in the future."
Downey served from 1994 to 2008 as chairman and chief executive officer of Barr, a global specialty pharmaceutical company that operated in more than 30 countries. During Downey's tenure at Barr, the company grew revenue from $60 million to more than $2.5 billion and became the fourth largest global generic drug company prior to its acquisition by Teva. Prior to joining Barr, Downey was a partner at the law firm of Winston and Strawn. He began his career in the Honors Program of the U.S. Department of Justice. He later worked as a special litigation counsel at the U.S. Department of Energy.
Downey currently serves as the chair of the Board of Ambassadors for Johns Hopkins' Project RESTORE, which funds research and clinical trials to support the creation of progressive treatments for transverse myelitis and multiple sclerosis. He also serves on the board of Momenta Pharmaceuticals and is a partner in NewSpring Health II, a venture capital firm.
"We are thrilled that Bruce will be joining the board of the 'new' Cardinal Health," said George Barrett, future chairman and chief executive officer of Cardinal Health. "Bruce is a dynamic and creative leader who will bring unique perspectives to our company. We look forward to welcoming him to our board following completion of the planned spinoff."
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is a $91 billion, global company serving the health care industry with products and services that help hospitals, physician offices and pharmacies reduce costs, improve safety, productivity and profitability, and deliver better care to patients. With a focus on making supply chains more efficient, reducing hospital-acquired infections and breaking the cycle of harmful medication errors, Cardinal Health develops market-leading technologies, including Alaris(R) IV pumps, Pyxis(R) automated dispensing and patient identification systems, MedMined(TM) electronic infection surveillance service and VIASYS(R) respiratory care products. The company also manufactures medical and surgical products and is one of the largest distributors of pharmaceuticals and medical supplies worldwide. Ranked No. 18 on the Fortune 500, Cardinal Health employs more than 40,000 people on five continents. More information about the company may be found at www.cardinalhealth.com.
SOURCE Cardinal Health, Inc.
