AmerisourceBergen, Cardinal Health, McKesson up After Hours Following WSJ Story
October 15 2019 - 5:47PM
Dow Jones News
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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