Drug wholesalers McKesson (MCK), AmerisourceBergen (ABC) and Cardinal Health (CAH), together with CVS Health (CVS), Walgreens (WBA) and Walmart (WMT), saw their shares slide in afternoon trade Wednesday after a Washington Post report said that the companies distributed the majority of opioid painkillers in the US from 2006 to 2012.
McKesson was down 3%, AmerisourceBergen 4%, Cardinal Health 4%, CVS Health 2%, and Walgreens 2%. Walmart was little changed, but still red.
The report was based on newly released data from the US Drug Enforcement Administration’s drug pill database, as a result of what is reportedly the largest civil action in US history, with about 2,000 cities, towns, and counties suing pharmaceutical companies for allegedly conspiring to drown the nation in opioids.
Data from the federal database also showed that Mallinckrodt (MNK), Teva’s (TEVA) Actavis and Endo International’s Par Pharmaceutical (ENDP) did the bulk of the manufacturing.
Mallinckrodt shares fell 8%, Teva was almost 2% lower and Endo was down 5%.
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