Shares of Mallinckrodt, Endo, Teva, Drugmakers With Opioid Business, Fall
2019年8月28日 - 5:14AM
Dow Jones News
By Micah Maidenberg
Mallinckrodt PLC (MNK), Endo International PLC (ENDP) and Teva
Pharmaceutical Industries Ltd. (TEVA) shares dived a day after a
judge ordered Johnson & Johnson (JNJ) to pay a fine related to
its alleged role in opioid-related deaths in Oklahoma.
Shares of Mallinckrodt fell 15% in late-afternoon trading.
American depositary receipts of Teva were 9% lower. Endo's stock
dropped 12%.
On Monday, an Oklahoma judge ordered J&J to pay a fine of
$572 million for its alleged role in unintentional opioid deaths
over a 10-year period in the state. Prosecutors for the state
sought $17 billion.
J&J has denied wrongdoing and plans to appeal the judge's
ruling. Shares of J&J were up about 2%.
The question that many investors are now asking is what the
verdict may mean for other pharmaceutical companies.
Mallinckrodt faces lawsuits over the alleged role its products
played in fostering the opioid crisis, including in a court in
Ohio. U.S. drug enforcement officials told the Ireland-domociled
company in 2010 they believed it was a "kingpin within the
prescription drug cartel," The Wall Street Journal reported
Sunday.
Mallinckrodt has denied allegations brought in the suits.
Teva settled with prosecutors in Oklahoma, but faces
opioid-related litigation in other jurisdictions. Endo also faces
lawsuits related to its alleged role in the opioid crisis.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
August 27, 2019 15:59 ET (19:59 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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