Altria agreed to buy e-cigarette maker NJOY for $2.75 billion in cash as the Marlboro maker looks to strengthen its portfolio of smoke-free products. The deal for privately held NJOY, one of the few e...
Tag: Drug/Substance Use/Abuse
20-year-old investor who made $110 million on a meme stock is now pushing for change at psychedelics company MindMed
The 20-year-old investor who found fame this year when he made $110 million trading shares of troubled retailer Bed Bath & Beyond Inc. BBBY, -5.48%, has turned activist shareholder and is pushing ...
U.K. Tobacco Company Imperial Brands Is a Good Bet Against Inflation
Tobacco companies as a whole have historically been one of the most recession-resistant industries. Dreamstime Text size Stockholders have had a rough time this year, with surging inflation and fears ...
These cannabis stocks could benefit from adult-use cannabis legalization in Germany
While it’s too early to predict winners and losers among U.S. and Canadian cannabis companies, some of these players are expected to see a boost in sales as Germany moves toward nationwide legalizatio...
CVS, Walgreens and Walmart Ordered to Pay $650 Million to Ohio Counties in Opioid Case
A federal judge in Ohio has ordered the companies owning CVS, Walgreens and Walmart pharmacies to pay $650 million over 15 years to two Ohio counties after a jury found them liable for contributing to...
Drugmaker Endo Says Bankruptcy Likely Imminent
Endo International PLC, a pharmaceutical manufacturer facing thousands of lawsuits alleging it fueled the opioid addiction crisis, said Tuesday that it is likely to file for bankruptcy imminently. The...
UnitedHealth to Drop Copays on Some Widely Used Drugs
UnitedHealth Group Inc. said it would eliminate copayments and other out-of-pocket charges for patients on some widely used drugs in certain plans next year, including insulin and the anti-overdose tr...
Juul Ban Will Send Altria’s Strategy, and $13 Billion, Up in Smoke
Altria Group disastrous investment in Juul Labs is taking another turn for the worse. On Wednesday, The Wall Street Journal reported that the Food and Drug Administration is preparing to remove Juul e...
Altria’s Cigarette Addiction Is Becoming Unhealthier
For years tobacco companies have been fighting regulators more than each other. That might be about to change, and Altria MO -0.61% in particular needs a game plan. If Philip Morris International’s PM...
Canopy Growth Stock Is Falling as Earnings Disappoint Wall Street
Text size Canopy Growth reported a 36% drop in revenue from Canadian recreational cannabis sales compared with the same quarter a year ago. Chris Roussakis/Bloomberg Canopy Growth stock is plummeting ...
Giant Pension Bought AMD, Tilray, Uber, and Petrobras Stock
Text size An AMD EPYC processor. Courtesy AMD New Jersey’s state pension materially increased investments in some of its larger positions. State of New Jersey Common Pension Fund D, the pension’s larg...
Canopy Growth Stock Jumps After Earnings, Despite Slowing Marijuana Sales
Text size Marijuana plants at a Canopy Growth facility in Ontario. Chris Roussakis/Bloomberg Canopy Growth‘s shares were jumping Wednesday after the Canadian cannabis company reported higher-than-expe...
Bernstein launches coverage of Canada’s Tilray, Cronos and Canopy Growth but stops short of any buy ratings
Sanford C. Bernstein & Co. analyst Nadine Sarwat initiated coverage of three Canadian cannabis stocks on Wednesday but stopped short of any buy recommendations at current levels. “Is the buzz gone...