Discontinuing Propofol

i_need YoUi_need YoU Posts: 933
edited January 1970 in News
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10:27 AM Eastern Daylight Time, 05/28/2010 (MidnightTrader) — Teva Pharmaceutical Industries Ltd. (TEVA) opened near even, but has been moving lower with the market after announcing this morning that it will end production of propofol, the powerful sedative that caused the death of pop singer Michael Jackson.

Shares opened at $55.68 and are down 1.33% at $54.96, a penny off its session low.

Teva gave no reason for the move, but it could be related to a spate of lawsuits, numbering 250 or more related to the drug, which is supposed to be confined to a hospital operating rooms.

AstraZeneca PLC (AZN) makes Divipran, the brand name drug. Its shares are up 0.69%.

Price: 54.96, Change: -0.74, Percent Change: -1.33

Comments

  • Wow - interesting. I was just reading this on the Internet. I didn't realize there were a bunch of lawsuits against them. Hmm...
  • loyalfanloyalfan Posts: 1,641
    way to go micheal.........you are getting the "job done".......genius....sheer genius....xxxx
  • itsall4luvitsall4luv Posts: 70
    I don't think this is a coincidence that this action is occuring now. I think we're getting closer and closer. Piece by piece!
  • White_OrchidWhite_Orchid Posts: 406
    Edit
  • Heyyy! That's great news! <!-- s:D -->:D<!-- s:D --> <!-- s:D -->:D<!-- s:D --> WHOO!
  • darkchilddarkchild Posts: 1,161
    I don't think this is a coincidence that this action is occuring now. I think we're getting closer and closer. Piece by piece!

    That is correct. To me, there are no coincidences in the universe. MJ is exposing the truth to the world. I really believe that we are in home stretch. That is right, piece by piece. Great post, itsall4luv! God bless you! <!-- s:) -->:)<!-- s:) -->
  • Game PlayerGame Player Posts: 386
    Very interesting. I noticed a lot of doc's were complaining that they were having to constantly talk about propofol being safe to calm down their patients who would be taking it for surgery.
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