Rite Aid Once Top Drugstore Chain Lost Over 80% Of Stock Value In One Year: Opioid Litigation Takes Toll
Portfolio Pulse from Vandana Singh
Rite Aid Corp (NYSE:RAD) is reportedly on the brink of bankruptcy due to its role in the opioid crisis and a significant debt burden exceeding $3.3 billion. The company is facing numerous lawsuits and has seen its stock value drop by over 80% within a year. Other pharmaceutical companies like Purdue Pharma, Mallinckrodt Plc (NYSE:MNK), and Endo International Plc (OTC:ENDPQ) have also faced bankruptcy due to opioid-related litigations.
August 25, 2023 | 5:52 pm
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Endo International Plc has also faced bankruptcy due to opioid-related litigations.
The mention of Endo International Plc in the context of bankruptcy due to opioid-related litigations could negatively impact its stock price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Mallinckrodt Plc has also faced bankruptcy due to opioid-related litigations.
The mention of Mallinckrodt Plc in the context of bankruptcy due to opioid-related litigations could negatively impact its stock price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Rite Aid Corp is facing bankruptcy due to numerous lawsuits and a significant debt burden. Its stock value has dropped by over 80% within a year.
The news of potential bankruptcy and the ongoing lawsuits are likely to negatively impact Rite Aid's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100