Why Mallinckrodt and Endo International Shares Jumped Today
Shares of Mallinckrodt (NYSE: MNK) closed up 12% on Monday while Endo International (NASDAQ: ENDP) jumped almost 13%, without either company releasing any news.
It could just be a coincidence, but it seems likely that investors have more confidence that the opioid lawsuits that both companies face will be settled sooner rather than later.
A decision in an opioid lawsuit between Johnson & Johnson (NYSE: JNJ) and the State of Oklahoma is expected in the coming weeks, so opioid companies have an incentive to settle their cases rather than let the Johnson & Johnson ruling set the bar for what others might have to pay.
Source Fool.com
