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Hedge Funds And Short Sellers Dig Into Health Care Stocks Facing Opioid Lawsuits

by axios.com posted 1month ago 18 views
Hedge funds and short sellers are raising their bets that lawsuits against pharmaceutical companies will drive down their stock prices and maybe even put them out of business. The intrigue: Data from S3 Partners provided exclusively to Axios shows bets against biotech and pharmaceutical companies have risen 12% since the beginning of the year to nearly $62 billion of short interest. Driving the news: Close to 2,000 lawsuits have been filed accusing big pharma companies of fueling the opioid epidemic. Drugmakers including Mallinckrodt, Allergan, Endo Pharmaceutical, Johnson & Johnson and Teva, and several drug distributors have been named as defendants.

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