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Feb. 14, 2020, 10:19 a.m. EST

Drug wholesaler stocks falls after WSJ report that states rejected opioid settlement offer

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By Tomi Kilgore

Shares of drug wholesalers, who have held talks to settle opioid litigation, sank in morning trading Friday, after The Wall Street Journal reported that 21 states had rejected an $18 billion settlement offer. Shares of AmerisourceBergen Corp. /zigman2/quotes/201066379/composite ABC +2.64% dropped 2.4%, Cardinal Health Inc. /zigman2/quotes/206646342/composite CAH +2.04% shed 2.5%, McKesson Corp. /zigman2/quotes/206975466/composite MCK +3.53% lost 1.4% and Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +0.50% fell 0.4%. In comparsion, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.61% inched up less than 0.1%. The WSJ report, which cited a person familiar with the matter, said the dissenting states want the wholesalers to pay between $22 billion and $32 billion, for their alleged roles in contributing to the opioid crisis.

/zigman2/quotes/201066379/composite
US : U.S.: NYSE
$ 101.95
+2.62 +2.64%
Volume: 580,395
July 15, 2020 3:09p
P/E Ratio
13.41
Dividend Yield
1.65%
Market Cap
$20.20 billion
Rev. per Employee
$8.23M
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/zigman2/quotes/206646342/composite
US : U.S.: NYSE
$ 51.97
+1.04 +2.04%
Volume: 941,242
July 15, 2020 3:09p
P/E Ratio
N/A
Dividend Yield
3.73%
Market Cap
$14.87 billion
Rev. per Employee
$2.83M
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/zigman2/quotes/206975466/composite
US : U.S.: NYSE
$ 153.06
+5.22 +3.53%
Volume: 699,950
July 15, 2020 3:09p
P/E Ratio
29.66
Dividend Yield
1.07%
Market Cap
$23.97 billion
Rev. per Employee
$2.74M
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/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 148.66
+0.74 +0.50%
Volume: 4.70M
July 15, 2020 3:09p
P/E Ratio
23.13
Dividend Yield
2.72%
Market Cap
$389.71 billion
Rev. per Employee
$603,509
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/zigman2/quotes/210599714/realtime
US : S&P US
3,216.92
+19.40 +0.61%
Volume: 2.07B
July 15, 2020 3:09p
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