Kenvue rises after favorable court ruling for its painkiller drug

Rite Aid

19/12/2023 13:38

** Shares of consumer health company Kenvue  KVUE.N  rise
~5% to $22.08 premarket
    ** A court ruled in co's favour on Sunday in a class action
lawsuit which said that exposure to its fever and pain-reducing
drug Tylenol may contribute to autism or attention-deficit
hyperactivity disorder during pregnancy 
    ** In October 2022, a federal judicial panel had
consolidated dozens of lawsuits against the drug, naming
retailers like CVS Pharmacy  CVS.N , Rite Aid Corp  RADCQ.PK ,
Target  TGT.N  and Walgreens Boots Alliance  WBA.O  as
defendants 
    ** Analysts at J.P. Morgan added KVUE to its analyst focus
list and said that the ruling effectively collapses the
plaintiffs' case in the multi-district litigation
    ** Up to last close, shares mostly flat this year

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))