Target $40
Thursday, July 11, 2019
U.S. reaches next opioid settlement for $1.4B
Reckitt Benckiser (OTCPK:RBGLY) has agreed to pay up to $1.4B to resolveall U.S. federal investigations into the sales and marketing of an opioid addiction treatment, called Suboxone Film, by its former pharmaceuticals subsidiary Indivior (OTCPK:INVVY).
“$1.4B is materially larger than the $400M RB had previously provisioned and represents about 2% of its market cap. On the other hand, this settlement removes some uncertainty from the investment case,” Credit Suisse analyst Alan Erskine said.
Reckitt shares advanced 2.5% in London on the news.
Gilead picks site for western China operations
Smith & Nephew’s Novostitch shows effectiveness in meniscal tear study
Results from a U.S. study, STITCH, evaluating Smith & Nephew’s (NYSE:SNN) NOVOSTITCH Meniscal Repair System in 30 patients with horizontal cleavage tears demonstrated its effectiveness. At month 6, there were no re-operations and all patients experienced meniscal healing (no visible defect during needle biopsy).
Horizontal tears comprise about 1/3 of meniscal tear injuries.
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