Drug companies reach US$260 million settlement, averting first federal opioid trial

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

The judge overseeing Monday's trial said he would work out a new trial date for the remaining defendant, pharmacy chain operator Walgreens Boots Alliance Inc . 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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