Baxter, McKesson, Teva Hit with a $162 Million Punitive Judgment
Bloomberg is reporting that Teva Pharmaceuticals, Ltd. (NASDAQ:TEVA) and Baxter International (NYSE:BAX) have been hit with punitive judgments totaling $162.5 million over concerns that colonoscopy patients who used the companies’ drug Propofol during colonoscopy procedures. McKesson Corp. (NYSE:MCK) is the drug’s US distributor. Teva manufactures the drug and Baxter sold it for Teva until 2009.
Following is some information about these companies’ stock price performance.
- Teva Pharmaceuticals, Ltd. (NASDAQ:TEVA): The shares recently traded at $38.06, up $0.28, or 0.73%, on the day. The shares have traded in a 52-week range of $35 to $57.08 and its market capitalization is $35.79 billion. About the company: Teva Pharmaceutical Industries, Ltd. develops, manufactures and markets generic and branded human pharmaceuticals and active pharmaceutical ingredients. The Company produces antibiotics, oncological products, Alpha D3 for treatment of post-menopausal bone loss in women and Copaxone for treatment of multiple sclerosis. Teva develops novel drugs for diseases of the central nervous system.
- Baxter International (NYSE:BAX): The shares recently traded at $56.15, down $0.90, or 1.58%, on the day. The shares have traded in a 52-week range of $48.03 to $62.50 and its market capitalization is $31.91 billion. About the company: Baxter International, Inc. develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions.
- KcKesson Corp. (NYSE:MCK): The shares recently traded at $72.76, down $0.40, or 0.55%, on the day. The shares have traded in a 52-week range of $60.39 to $87.32 and its market capitalization is $17.92 billion. About the company: McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise. In addition, McKesson offers analytic, care management, and patient solutions for payers.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)