The Two Words That Will Wipe Out Half of McKesson’s Equity – “Public Nuisance”
New court documents show a reality that takes McKesson stock price to $80.
Citron is not going to waste the readers’ time by detailing in pages how McKesson, the nation’s largest drug distributor was complicit in fueling the opioid crisis, which is now known as the “worst man-made epidemic in modern medical history.” From 2006-2012 alone McKesson distributed 14 billion pills.
The human side of the opioid crisis has been felt throughout our country over the past decade and for those Wall Street analysts isolated from the world, look to the words of Mark Zuckerberg as he traveled the nation in 2017 and said his largest surprise was “the extent of the opioid crisis and how it has affected people, communities, and become a public health issue that is tearing apart the communities.”
In this report Citron will present new legal statutes in the National Opioid Litigation that have not been considered by Wall Street Analysts and will directly impact the share price of McKesson. The key piece of supporting documentation was filed as recently as yesterday.
There is nothing Citron can write that can even compare to the investigative work done by 60 Minutes in a series of segments and The Washington Post in their award-worthy coverage of the opioid crisis and trials. The findings were clear; in order to maximize profits McKesson turned a blind eye to all monitoring of the deadly drug and ignored necessary controls when distributing a pill that kills more people in one year than the total body count of the Vietnam War.
While blame for the crisis no doubt lies in the hands of the manufacturers whose stocks are all down over 90% or have claimed bankruptcy, the findings show that none of this would have been possible without the distributor.