Hints and tips:
...The crunchy acronym was coined by Goldman Sachs for pharma companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the...
...The US Supreme Court has put on hold a $6bn bankruptcy settlement by Purdue Pharma that would shield members of the Sackler family that own the company from future lawsuits linked to the US opioids crisis...
...The US’s most controversial bankrupt is Purdue Pharma....
...Members of the Sackler family who own Purdue Pharma can be shielded from lawsuits linked to the US opioid crisis in exchange for payments worth up to $6bn, appellate judges have ruled in a reversal of a...
...This should add to pressure on an equity story that we see beset by; 1) skepticism on mid-term growth rate, 2) earnings risks from an already well optimized P&L, 3) overhang from potential disposal by major...
...Members of the Sackler family who own Purdue Pharma have offered up to $6bn to resolve the company’s bankruptcy settlement, two months after a federal judge overturned it due to a provision that protected...
...of creditors, communities, and individuals to receive billions in value to abate the opioid crisis,” said Steve Miller, chair of Purdue Pharma....
...The Sacklers’ family-founded company, Purdue Pharma, manufactured and marketed OxyContin, a highly addictive pain medication that has been at the centre of America’s opioid epidemic....
...The consultancy last year agreed to pay almost $574mn to settle claims brought by US states alleging that McKinsey’s advice to pharmaceutical companies, including Purdue Pharma, contributed to America’s...
...Landsec has bought a 75 per cent stake in MediaCity in Salford, previously a 50-50 joint venture between Legal & General and Peel L&P....
...As global managing partner of McKinsey, he was busy steering the consultancy as it settled civil claims for $574m over its advice to Purdue Pharma on how to boost sales of OxyContin, the drug that helped...
...David Sackler joined the Purdue Pharma board in 2012. He was not a member of the board in 2007 as wrongly stated in an article on August 9....
...Phil Weiser, Colorado’s attorney-general, noted that McKinsey had been advising governments on how to deal with the epidemic at the same time as it was advising the likes of Purdue Pharma on how to boost...
...They had pursued McKinsey for its role in helping Purdue Pharma and others peddle the opioids that fuelled a nationwide addiction crisis....
...The company argued the bankruptcy settlement is the best solution, in part because there have been no offers to buy Purdue Pharma....
...Not many managers are ready to do this — though some are beginning to ask their clients what they want (L&G and Aviva are ahead of the game)....
...But Purdue Pharma and the members of the Sackler family still face lawsuits from states and counties across the US....
...Purdue Pharma, now in bankruptcy, pleaded guilty to criminal charges for its handling of the painkiller OxyContin, which addicted vast numbers of people....
...Working with Purdue Pharma left a sizeable dent, for one. Will Sternfels try to get it back, or write his own script?...
...“It took about two years until we saw this effect going through the P&L,” he said. “I think that is a good estimate of what we have to expect for the US.”...
...The famed stockpicker (we’re of course talking about Buffett here) had his worst performance in a decade versus the S&P 500 in 2019 and this year is shaping up to be just as bad....
...• Our top picks remain Pharma, Tech and Utilities. Pharma has a very strong relative EPS momentum, and could show greater than current 20% P/E premium to the broader market....
...In a 1998 letter exhibited at the trial, an executive from Noramco wrote to Purdue Pharma — then known as Purdue Frederick — to say that “gaining access to raw materials on a worldwide basis . . . simply...
...In the case of the Sackler family, some of whom own Purdue Pharma — who appear to have used their philanthropy to burnish their reputations with one hand while fanning the flames of the opioid epidemic with...
...We cross-check our PT with a 2024E P/E multiple discounted to present value; our PT would imply a 15x P/E multiple vs 23.0x developed Sx pharma 12m forward P/E average....
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