Pharma companies settle on US$260 mil deal hours before trial

CLEVELAND: Three leading American drug distributors and an Israeli drugmaker blamed for a deadly US opioid epidemic settled a bellwether civil lawsuit with two Ohio counties yesterday, just hours before they were to go on trial, a federal judge announced.

“Cuyahoga County has seen thousands of people die over the last several years. It’s a tragedy. Summit County is no different,” said Cuyahoga prosecutor Michael O’Malley. The companies reaped tens of billions of dollars in profits while overdose deaths soared above 400,000 over two decades – more than 70,000 in 2017 alone.

Negotiations for a global deal worth a reported US$48 billion – but only US$18 billion in cash – broke down Friday amid differences between some states and smaller communities over the total value and how the money would be distributed.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

1MDB scandal: Court hears how US$700 million was paid for US$1 companyKUALA LUMPUR: The former chief executive of 1Malaysia Development Bhd (1MDB) today gave further insights on how the sovereign wealth fund was run, including his mindset of doing things in Team Najib while managing affairs.
Source: NST_Online - 🏆 17. / 53 Read more »