UnitedHealth's OptumRx set to pay $20M in opioid settlement

Shares of UnitedHealth Group (UNH) are moving after the company's subsidiary, OptumRx Inc., a prescription drug benefit provider, agreed to a $20 million settlement after the US government claimed the provider improperly filled certain opioid prescriptions.

Yahoo Finance Anchors Madison Mills and Seana Smith break down the headwinds for UnitedHealth Group.

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This post was written by Nicholas Jacobino

Video transcript

All right, let's take a look at UN H and United Health here.

It's a trending ticker on Yahoo Finance Optum Rx.

It's a prescription delivery service that operates as a subsidiary of that company of United Health has agreed to pay $20 million to settle allegations of illegally filling opioid prescriptions.

Now, shares of United Health are rising this morning have been up more than 4%.

We're now looking at a gain of just around 2.5% so well off the highs of the day here.

But again, the settlement adding a bit of clarity here on that path forward for the stock and removing some of that uncertainty that clearly had been an overhang here for United Health.

Yeah, it's interesting.

I'm looking at a story on the Yahoo Finance platform right now showing that about half of this business is by the top 18 shareholders of this stock has seen a lot of institutional money in you.

You NH here also here to date the stock really struggling.

It's down about 7.5% still up over the course of the past year and it's also been down over the course of the past month, but of course, in that rise to the upside today, following this news.