Post by
MrMugsy on Jan 23, 2022 11:05am
Opioid Litigations ...
Does pharma investing get uglier before it get better?
$26B in settlement offers from 4 big names.
- $21B from McKesson, Amerisource Bergen and Cardinal Health
- $5B from JNJ
Judging by the market caps of all above - they will survive regardless.
Purdue and Mallinckrodt were not so lucky.
Teve has $23.5B offer on the table - $500M in cash and the rest in meds.
Purdue - judge overturned settlement in Dec 2021 because the deal would protect family and others involved.
CVS/Walgreens/Walmart/Giant Eagle ... no meaningful global offer yet.
Nov 23, 2021 ... A federal jury on Tuesday found three of the nation's biggest pharmacy chains, CVS, Walgreens and Walmart, liable for helping to fuel the U.S. opioid crisis — a decision that's expected to have legal repercussions as thousands of similar lawsuits move forward in courts across the country.
January 26, 2022 ... deadline for political subdivisions to join the deal.
February 25, 2022 ... defendants to decide whether they are going forward with settlement.
---------------------------
Others ???
Endo Pharmaceuticals (could cost them up to $3,000M based on Tennessee offer)
- started with a deal for Tennessee last July for $35M.
- then a deal for New York at $50M.
- Eagle Pharma started shipping vasopressin in direct competition with Endo.
- announced deal for Texas at $63M (4 weeks ago ?)
- announced deal for Florida $65M recently
Endo notes that the primary goal is to achieve a global settlement. At the same time, Endo is exploring other strategic alternatives in the event it is unable to acheive a global settlement. Guessing that has to do with the likelihood of a restructuring ????
Heating up ... guessing January 26 and February 25 are important dates re. opioid litigation and next steps.
It should make for some rollercoaster rides with a few pharma names.
I'm sure there's a lot more going on - just so hard to keep track of everything.
Comment by
GoldenInvestor on Jan 23, 2022 1:40pm
Mugs, thanks fot the work & info on the timeline & synopsis! looking forward to more GUD things to come! GI
Comment by
Chianchin on Jan 23, 2022 6:46pm
Here we go at it again!! Mugsy and Gold "his alias" madly taking the same old bs all over. Can anyone possible imagine writing to yourself and email and minutes later replying back to yourself? fact_This is what Mugsy doe on this board. Yet GUD share prioce continues to languish forever
Comment by
pantono1 on Jan 24, 2022 2:23am
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