Opioid-related stocks under pressure on perceived financial risk after J&J verdict

Opioid-related companies are not enjoying any of buying in Johnson & Johnson (JNJ +1.8%) after an Oklahoma judge fined it $572M over its role in the opioid epidemic there, a ruling that it intends to appeal. Whatever the final amount is, the company has ample resources to pay it as well as future amounts from pending lawsuits.

Others with less robust cash reserves may be under more pressure as the cases wind through the courts.

Selected tickers: AmerisourceBergen (ABC -4.4%), McKesson (MCK -4.5%), Cardinal Health (CAH -4.1%), Mallinckrodt (MNK -12.3%), Endo International (ENDP -6.9%), Teva Pharmaceutical Industries (TEVA -6.7%)

https://seekingalpha.com/news/3494980-opioid-related-stocks-pressure-perceived-financial-risk-j-and-j-verdict