Published: May 30, 2023 at 5:42 p.m. ET
Health-care companies fell sharply as traders rotated into cyclical sectors, spurred by enthusiasm about the debt-ceiling deal and artificial-intelligence technology.
A federal appeals court in New York reinstated a bankruptcy settlement that protects Purdue Pharma’s Sackler family owners from civil lawsuits accusing them of fueling the opioid addiction crisis. The settlement shields family members who own Purdue from civil opioid lawsuits in exchange for as much as $6 billion to fund opioid-abatement programs and compensate…
Health-care companies fell sharply as traders rotated into cyclical sectors, spurred by enthusiasm about the debt-ceiling deal and artificial-intelligence technology.
A federal appeals court in New York reinstated a bankruptcy settlement that protects Purdue Pharma’s Sackler family owners from civil lawsuits accusing them of fueling the opioid addiction crisis. The settlement shields family members who own Purdue from civil opioid lawsuits in exchange for as much as $6 billion to fund opioid-abatement programs and compensate people harmed by its flagship painkiller, OxyContin.
Theranos founder Elizabeth Holmes reported to prison to start her 11-year sentence for defrauding investors, marking a closing chapter in the downfall of one of Silicon Valley’s most prominent entrepreneurs after revelations about the company’s unreliable blood-testing technology.
Write to Rob Curran at rob.curran@dowjones.com
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