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Opioid Exposure Risk Intensifying For Generic Drug Makers

 
• By Jessica Merrill

Business fundamentals took a back seat to opioid litigation in the second quarter for generic drug makers, including Teva, Mallinckrodt and Endo Pharmaceuticals.

Risk-ahead

Teva Pharmaceutical Industries Ltd.'s turnaround is uncertain, Mallinckrodt PLC's spin-out of its generics business is delayed, and Endo International PLC's stock is barely treading water. All three find themselves among generic drug makers that are under intensifying pressure due to their exposure to opioid litigation – an issue that is distracting from business fundamentals and other strategic challenges.

The stocks of all three companies are trading below $10, with Teva's stock price opening 8 Aug at $7.09, down 53% from the start of the year. Mallinckrodt opened at...

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