$26 Billion Opioid Settlement Among States and Drug Industry Expected This Week

Thousands of opioid-crisis lawsuits filed against major drugmakers and distributors are nearing a conclusion, with the outlines of a $26 billion deal between states and four companies expected to be announced this week and a $1 billion settlement to resolve some of New York’s claims likely on Tuesday, people familiar with the matter said.

Drug distributors AmerisourceBergen Corp. , Cardinal Health Inc. and McKesson Corp. and manufacturer Johnson & Johnson have been negotiating the $26 billion settlement for more than two years as a way to resolve thousands of lawsuits filed by state and local governments blaming them for helping fuel the nation’s opioid epidemic. From 1999 to 2019, the nation lost nearly half a million people to overdoses of prescription and illegal opioids, according to federal data.

Under the contours of the deal, states and municipalities still have several months to sign on, and the amount ultimately paid will depend on how many participate, the people familiar with the talks said. The companies can also still walk away if they aren’t satisfied with the number of states and governments that join, the people said.

New York, meanwhile, has struck a more than $1 billion deal with AmerisourceBergen, Cardinal and McKesson midway through a trial against those companies and four other pharmaceutical firms, some of the people said. That deal is expected to be announced Tuesday, they said, and would remove AmerisourceBergen, Cardinal and McKesson from the trial.To Read the Full Story

I predict that there’ll be a big settlement for those who suffered from long lockdowns that have no scientific basis. I hope they don’t harm more people. mentalhealth

Blue M30s are hitting the streets

God, horrific that the overlords, the gods, have to pay out such a mountain of cash to the peasantry, eh wsj?

Cha-Ching!! Government to cash in. How many victims will they actually help. Smoking lawsuit all over again

But wait…who’s actually going to go to jail Does the problem disappear because they throw money at it? Who is going to jail?

What were the profits on those opioids during the time frame in question?

IM SORRY BUT WHY WOULD ANY COMPANY SETTLE A CASE RELATED TO OPIODS WHEN STATES ARE LEGALIZING THEM - WHAT KIND OF MORONIC LAWYERS DO YOU HAVE !!! $QQQ $SPY $DJIA

Sell Heroin on the corner and get caught…twenty years. Manufacture it and sell it through drug stores…pay a fine.

Terrible

And nobody goes to jail. WhitePrivilege

thanks

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Source: WSJ - 🏆 98. / 63 Read more »