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...paid out claims to parties once allegedly harmed by opioids manufactured and marketed by Mallinckrodt....
...The shadows deepened even further for me with the tale of Mallinckrodt....
...Like peers Purdue Pharma and Mallinckrodt, Endo believes the power of the bankruptcy process to funnel opioid litigation into a single, binding forum is the cleanest way to resolve its liability....
...James added that the pharmaceutical company’s heavy marketing of opioids was partially motivated by quotas for sales staff....
...Five years ago, Wall Street investors could barely hide their enthusiasm for up-and-coming pharmaceutical companies like Mallinckrodt. It was not just the science that got them excited....
...Earlier this week, the troubled pharmaceutical company announced a $1.6bn cash settlement with 47 state and US territory attorneys-general to resolve litigation over its opioid unit....
...Moreover, it collected millions of dollars designing and implementing marketing campaigns for three other opioid manufacturers — Johnson & Johnson, Endo Pharmaceuticals and Mallinckrodt — the lawsuits found...
...Teva Pharmaceuticals, the only remaining manufacturer, fell 1.6 per cent to $7.38, after losing 3.5 per cent during the trading day....
...Pharmaceutical companies Endo International settled both cases for $10m, Johnson & Johnson for $20m and Mallinckrodt for $30m....
...The news hit the shares of other companies embroiled in litigation such as Teva, Endo and Mallinckrodt. Some investors expect further falls....
...Endo International, a pharmaceutical company, fell 9 per cent to $2.65; Teva, the Israeli drugmaker, lost 4.6 per cent to $7.08; and McKesson, another distributor, fell 3 per cent to $142.55 in late-morning...
...● Silence Therapeutics nearly doubled after the gene science developer licensed its flagship technology to Mallinckrodt Pharmaceuticals....
...Shares in Mallinckrodt fell 7 per cent on Monday; Endo’s fell by 17 per cent. Endo, which also plans a vigorous defence, withdrew its opioid medication Opana in June 2017....
...The suit also names as defendants Janssen Pharmaceuticals, a division of Johnson & Johnson, the parent company itself, Mallinckrodt, Endo Health Solutions and Allergan Finance....
...According to the Interfaith Center on Corporate Responsibility (ICCR), a similar resolution filed at pharmaceutical group Mallinckrodt was withdrawn in March after the company decided to divest its opioid...
...That company will be Marathon Pharmaceuticals, Mallinckrodt said in a statement, noting that it did not believe there would be any impact on its net sales....
...Among the most commonly named defendants are drugmakers such as Purdue Pharmaceuticals, which is privately owned, Johnson & Johnson, Allergan, Mallinckrodt, Endo and Teva; distributors such as McKesson,...
...But if these cases do go through court, it might force more transparency in the pharmaceutical sector....
...Donald Trump’s latest pledge to drive down drug prices has left pharmaceutical stocks a little woozy....
...The S&P 500’s pharmaceuticals industry gauge declined 0.7 per cent, with New York shares in Perrigo, Mallinckrodt and Mylan sliding by 1.8 per cent, 3 per cent and 1.6 per cent, respectively....
...Others, such as Endo Pharmaceuticals and Mallinckrodt, generate a large chunk of their revenue from the pills....
...A short seller who wiped tens of billions of dollars off the market value of drugmaker Valeant has turned his fire on another pharmaceuticals group, sending shares in Mallinckrodt plummeting by as much as...
...Prices of bonds issued by a number of the companies that have been accused of overpricing — including Valeant Pharmaceuticals, Endo International and Mallinckrodt — have fallen sharply, pushing up yields...
...A number of listed pharmaceutical companies, including Valeant, Endo and Mallinckrodt, have made it their business to buy up branded off-patent remedies and pump up prices....
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