HEALTH CARE

Cardinal Acquiring Medicine Shoppe: Cardinal Health Inc., a maker of health care products, will acquire Medicine Shoppe International Inc., the nation’s largest franchiser of retail pharmacies, for $348 million. Under the agreement, Medicine Shoppe’s stockholders will receive $45 in Cardinal common stock for each share of Medicine Shoppe, as long as the market price of Cardinal is between $51.58 and $58.17 over a specified period. Medicine Shoppe closed up $4.31 at $43.06 on the Nasdaq market. Shares of Cardinal Health fell $1 to $54 on the New York Stock Exchange. St. Louis-based Medicine Shoppe has 987 locations in 46 states. It also has franchises in 109 drugstores in seven countries. Dublin, Ohio-based Cardinal provides products to managed-care facilities, care centers and pharmacies operated by supermarkets and mass merchandisers.