Billionaire money managers have bought millions of shares of both Pfizer and Walgreens Boots Alliance this year.
These stocks are all down more than 30% this year.
U.S. pharmacy chain operator Walgreens Boots Alliance said on Wednesday it has launched its own brand of popular overdose reversal drug, naloxone, which would be available over-the-counter (OTC). The launch comes weeks after Walgreens' brand was approved by the U.S. Food and Drug Administration in April. Opioid abuse has plagued the United States for more than two decades and killed more than half a million Americans, with fentanyl and synthetic versions being a major culprit in recent years, according to government data.