FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * WALTER ROBERT D   2. Issuer Name and Ticker or Trading Symbol CARDINAL HEALTH INC [CAH] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Exec. Chairman of the Board (Last) (First) (Middle) 7000 CARDINAL PLACE 3. Date of Earliest Transaction (Month/Day/Year) 12/14/2006 (Street) DUBLIN, OH 43017 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Shares 12/14/2006   M   10,000 A $ 27.053 947,754 D   Common Shares 12/14/2006   S(1)   10,000 D $ 65.3727 (2) 937,754 D   Common Shares 12/15/2006   M   10,000 A $ 27.053 947,754 D   Common Shares 12/15/2006   S(1)   10,000 D $ 64.9749 (3) 937,754 D   Common Shares               3,183 I By ESPP Common Shares               282,252 I By GRAT IX Common Shares               445,000 I By LLC (4) Common Shares               514,579 I By GRAT X Common Shares               282,000 I By LLC II (4) Common Shares               630,354 I By GRAT XI Common Shares               300,000 I By LLC III (4) Common Shares               700,000 I By GRAT XII

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (right to buy) (5)

$ 27.053

12/14/2006

M

0.1

03/03/2000

03/03/2007

Common Shares

100,409

(14)

0.6

D

Option (right to buy) (5)

$ 27.053

12/15/2006

M

0.1

03/03/2000

03/03/2007

Common Shares

100,409

(14)

0.5

D

Option (right to buy) (5)

$ 27.14

07/21/2000

07/21/2007

Common Shares

45,000

1

D

Option (right to buy) (5)

$ 36.307

03/02/2001

03/02/2008

Common Shares

96,402

1

D

Option (right to buy) (5)

$ 43.14

08/11/2001

08/11/2008

Common Shares

135,000

1

D

Option (right to buy) (5)

$ 47.333

03/01/2002

03/01/2009

Common Shares

187,500

1

D

Option (right to buy) (5)

$ 31.167

(10)

11/15/2009

Common Shares

562,500

1

D

Option (right to buy) (5)

$ 66.083

11/20/2003

11/20/2010

Common Shares

272,384

1

D

Option (right to buy) (5)

$ 68.1

01/15/2006

11/19/2011

Common Shares

440,529

1

D

Option (right to buy) (5) (6)

$ 67.9

11/18/2005

11/18/2012

Common Shares

486,009

1

D

Option (right to buy) (5) (6)

$ 61.38

11/17/2006

11/17/2013

Common Shares

507,086

1

D

Option (right to buy) (5) (6)

$ 44.15

08/23/2007

08/23/2014

Common Shares

562,500

1

D

Stock Appreciation Right (7)

$ 44.15

08/23/2007

08/23/2014

Common Shares

142,483

1

D

Stock Appreciation Right (8)

$ 31.167

08/03/2005

(13)

Common Shares

862,500

1

D

Option (right to buy) (5) (6)

$ 58.88

(11)

09/02/2012

Common Shares

379,759

1

D

Option (right to buy) (6) (9)

$ 66.34

(12)

08/15/2013

Common Shares

198,762

1

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
WALTER ROBERT D 7000 CARDINAL PLACE DUBLIN, OH 43017	X		Exec. Chairman of the Board

Signatures

Robert D. Walter		12/15/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Each stock option exercise and sale reported on this Form 4 was effected pursuant to a 10b5-1 plan established by the reporting person on 12/1/2006, when the reporting person was not aware of material non-public information about the Company. Such stock options would expire on March 3, 2007, if not exercised.
(2)	Weighted average sale price from 35 different transactions with the price ranging from $65.02 to $65.70. The details of this transaction are as follows: 400 shares at $65.02; 600 shares at $65.12; 100 shares at $65.13; 200 shares at $65.15; 200 shares at $65.16; 200 shares at $65.18; 200 shares at $65.20; 100 shares at $65.24; 100 shares at $65.26; 500 shares at $65.27; 300 shares at $65.29; 200 shares at $65.30; 200 shares at $65.31; 400 shares at $65.32; 900 shares at $65.34; 200 shares at $65.35; 100 shares at $65.38; 100 shares at $65.39; 300 shares at $65.40; 500 shares at $65.41; 800 shares at $65.42; 200 shares at $65.43; 300 shares at $65.46; 100 shares at $65.47; 400 shares at $65.48; 300 shares at $65.49; 300 shares at $65.50; 400 shares at $65.55; 200 shares at $65.58; 100 shares at $65.59; 400 shares at $65.61; 200 shares at $65.62; 200 shares at $65.65; 100 shares at $65.67; and 200 shares at $65.70.
(3)	Weighted average sale price from 31 different transactions with the price ranging from $64.54 to $65.26. The details of this transaction are as follows: 100 shares at $64.54; 600 shares at $64.58; 200 shares at $64.61; 900 shares at $64.65; 800 shares at $64.66; 200 shares at $64.70; 200 shares at $64.72; 200 shares at $64.79; 400 shares at $64.84; 200 shares at $64.86; 100 shares at $64.87; 100 shares at $64.94; 200 shares at $64.99; 100 shares at $65.02; 100 shares at $65.03; 200 shares at $65.05; 700 shares at $65.06; 100 shares at $65.09; 100 shares at $65.11; 200 shares at $65.15; 300 shares at $65.16; 500 shares at $65.17; 400 shares at $65.18; 600 shares at $65.19; 800 shares at $65.20; 100 shares at $65.21; 600 shares at $65.22; 300 shares at $65.23; 100 shares at $65.24; 500 shares at $65.25; and 100 shares at $65.26.
(4)	The reporting person holds the controlling interest in, and is the sole manager of, the LLC.
(5)	Stock option granted pursuant to the Cardinal Health, Inc. Equity Incentive Plan.
(6)	Stock option granted pursuant to the reporting person's then-applicable Employment Agreement with Cardinal Health. The Company and the reporting person are parties to an Employment Agreement originally dated November 20, 2001, and amended and restated on February 1, 2004 and April 17, 2006, and further amended on August 2, 2006 (the "Employment Agreement").
(7)	Deferred Payment Stock Appreciation Right granted in partial fulfillment of the Company's obligations to the reporting person pursuant to the Employment Agreement.
(8)	Deferred Payment Stock Appreciation Right granted to compensate the reporting person for the portion of the option to purchase 1,425,000 common shares originally granted to the reporting person on November 15, 1999 (the "November 1999 Option"), which portion has subsequently been determined to be null and void.
(9)	Stock option granted pursuant to the Cardinal Health, Inc. 2005 Long-Term Incentive Plan, as amended.
(10)	Stock option vested in three equal annual installments beginning on 11/15/00.
(11)	Stock option vests in four equal annual installments beginning on 9/2/2006.
(12)	Stock option vests in four equal annual installments beginning on 8/15/2007.
(13)	Expires on the earlier of (x) November 15, 2009 (the expiration date of the November 1999 Option) or (y) six months after the reporting person's termination of employment.
(14)	A portion of this stock option was disposed of in connection with its exercise for no additional consideration beyond the option shares.

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