By Sara Randazzo Updated Oct. 15, 2019 4:26 pm ET Three major drug distributors are in talks to pay $18 billion to settle sweeping litigation brought by state and local governments blaming them for fueling the opioid crisis, people familiar with the discussions said, potentially marking a broad resolution to lawsuits that have shaken the pharmaceutical industry.
The three distributors— McKesson Corp. , AmerisourceBergen Corp. , and Cardinal Health Inc. —would collectively pay $18 billion over 18 years under the deal currently on the table, the people said. Johnson & Johnson is also involved in the discussions to contribute additional money, some of the people said.
Players up and down the pharmaceutical supply chain, including drugmakers, distributors and pharmacies, have been sued by virtually every state and thousands of city and county governments. Over 2,000 lawsuits allege the industry’s overly aggressive marketing of prescription painkillers and lax oversight over drug distribution contributed to widespread opioid addiction.
At least 400,000 people have died in the U.S. from overdoses of legal and illegal opioids since 1999, according to federal data. The lawsuits are seeking to recoup the costs borne by communities grappling with widespread addiction, including burdens on emergency services, medical care and foster services for children born to addicted parents.Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved.
hasanminhaj i guess they saw patriot act. At least it is a first step!
Now multiply that by 10. Done.
That’s not enough. Don’t get me wrong they should have to hand over every penny they ever earned from their straight dope dealing empire but also anyone involved with the massive campaign to turn people into junkies and profit off their disease should get thrown in the pokey
And it's not even close to enough
18 Billion is nothing in the scheme of how many lives have been devastated.
When is the gov't going to accept their own responsibility. They were the ones who pushed pain as the 5th vital sign on healthcare professionals in addition to temp, respiration, BP, and pulse.
The Sackler Family has Done this before & formed Rhodes Pharma. The repetitive process of Abuse & Settlements must stop. It's time For Sacklers to see PRISON TIME and Complete Liquidation of ALL assets Public, Private. Measures must be set to Stop the Repetition & Abuse.
My mother died of an opioid overdose at the young age of 39 in 1999 - before it was mainstream. Who gets the settlement, ?
So do the families impacted by opioid abuse get their cut?
The dead can't spend that money.
Unless it equals what they profited from it, it is NOT ENOUGH!
And like the tobacco settlements, the states will use the money to balance their budgets or fund their employee pensions. Little if any will be used to address the actual problem.
How much are drug cartels in Mexico and China going to pay
Not nearly enough
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