AmerisourceBergen, Cardinal Health, McKesson up After Hours Following WSJ Story

Date : 10/15/2019 @ 9:47PM
Source : Dow Jones News
Stock : Cardinal Health Inc (CAH)
Quote : 54.03  0.35 (0.65%) @ 11:27PM
After Hours
Last Trade
Last $ 53.68 ▼ -0.35 (-0.65%)

AmerisourceBergen, Cardinal Health, McKesson up After Hours Following WSJ Story

AmerisourceBergen (NYSE:ABC)
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1 Month : From Oct 2019 to Nov 2019

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   By Stephen Nakrosis 
 

Shares of drug distributors AmerisourceBergen Corp. (ABC), Cardinal Health Inc. (CAH) and McKesson Corp. (MCK) are all trading higher in Tuesday's after-hours market, following an exclusive report from The Wall Street Journal that said the three companies are in talks to settle litigation brought by state and local governments blaming them for fueling the opioid crisis.

At 4:57 p.m. ET, shares of McKesson Corp. had gained 6.75% in the after-hours market, to trade at $147.50. AmerisourceBergen Corp. shares were 7.45% higher, at $89.40. Shares of Cardinal Health gained 7.52% to trade at $51.50.

After the bell Tuesday, The Wall Street Journal, citing "people familiar with the discussions," said the three companies were discussing collectively paying $18 billion over 18 years to settle the litigation.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

October 15, 2019 17:32 ET (21:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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