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Drug companies reach S$354m settlement, averting first US opioid trial

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CLEVELAND (REUTERS) - Four large drug companies reached a last-minute US$260 million (S$354 million) legal settlement over their role in the US opioid addiction epidemic, averting the first federal trial that was scheduled to start Monday (Oct 21) morning in Cleveland.. Read more at straitstimes.com.

CLEVELAND - Four large drug companies reached a last-minute US$260 million legal settlement over their role in the US opioid addiction epidemic, averting the first federal trial that was scheduled to start Monday morning in Cleveland.

On Friday, talks with the same defendants collapsed, which were aimed at reaching a broader US$48 billion settlement covering thousands of lawsuits filed by counties, towns and states from across the country over the crisis. Monday's trial was scheduled to pit Cuyahoga and Summit counties of Ohio against the companies over allegations that they helped fuel a nationwide opioid crisis.

Monday's settlements add to deals worth US$66.4 million that the two counties earlier struck with drug companies Mallinckrodt Plc, Endo International Plc, Johnson & Johnson and Allergan Plc.

 

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