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...
...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...
...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...
...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....
...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)....
...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....
...With top-line beat flowing through the P&L, core op. profit was +8% vs cons and core EPS +12%. ¾ of the EBIT beat seems inventory related. Q: What were the most noteworthy areas in the results?...
...(FT) Sacklers withdrew $10bn from Purdue during decade opioid crisis erupted Some members of the Sackler family who owned stakes in OxyContin maker Purdue Pharma withdrew more than $10bn from the company...
...Boeing or Purdue Pharma may leap out, but RepRisk, a Swiss ESG rating company, has chosen to eschew such widely known examples for its 2019 ranking of the world’s most controversial companies....
...The Reckitt penalty dwarfs the $600m paid by Purdue Pharma, which pioneered the most popular opioid drug known as OxyContin....
...(FT) Purdue offers $12bn to settle opioid suits Purdue Pharma, the maker of the opioid OxyContin, and members of its controlling Sackler family have offered to settle thousands of lawsuits for $10bn-$12bn...
...A partisan divide has emerged over a separate settlement with OxyContin maker Purdue Pharma....
...JPMorgan Chase is cutting ties with Purdue Pharma, the OxyContin maker owned by the billionaire Sackler family, because of rising reputational risk....
...All this has left equity investors struggling to discern truth from fiction — helping to send volatility in the S&P 500 index to its third-highest level in seven years....
...L’Oréal Sector: cosmetics / HQ: Paris, France Key stat: Online sales jumped 53 per cent in the first quarter....
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