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Oxycodone pain pills prescribed for a patient with chronic pain on display on March 23, 2016 in Norwich, CT. Photo: John Moore/Getty Images

New York reached a $1.1 billion settlement on Tuesday with three of the country's largest drug distributors for their alleged role in the opioid epidemic, New York Attorney General Letitia James said.

The big picture: The settlement comes as the three companies — McKesson, Cardinal Health, and Amerisource Bergen — as well as Johnson & Johnson near a $26 billion deal with states and municipalities that would settle thousands of lawsuits related to the opioid crisis, the New York Times reports.

  • Tuesday's agreement in New York is the only deal that has been formally settled to so far, per the Times.
  • New York last month reached a separate $230 million settlement with Johnson & Johnson over its role in the opioid crisis.

Driving the news: According to Tuesday's settlement, the three distributors will spread their payments out over the next 17 years.

  • The companies will also participate in a tracking system that is designed to control the amount of opioids sold and shipped to pharmacies across the country.
  • They admit to no wrongdoing as part of the settlement.

What she's saying: "Over the course of these past two decades, McKesson, Cardinal Health, and Amerisource Bergen distributed these opioids without regard to the national crisis they were helping to fuel," James said in a statement.

  • "But today, we’re holding them accountable and delivering more than $1 billion more into New York communities ravaged by opioids for treatment, recovery, and prevention efforts."

Go deeper: CDC says drug overdose deaths hit record 93,300 in 2020

Go deeper

2 hours ago - World

Biden: U.S. combat mission in Iraq will end this year

Biden returning to the White House on July 25. Photo: Samuel Corum/Getty Images

The United States' combat mission against the Islamic State in Iraq will be completed "by the end of the year," President Biden said Monday prior to a meeting with Iraqi Prime Minister Mustafa al-Kadhimi.

Why it matters: Biden is close to shifting the U.S. military mission in Iraq to a fully advisory role more than 18 years after combat troops were sent to the country under the former President George W. Bush.

How extreme weather feeds inflation

Illustration: Annelise Capossela/Axios

This summer's extreme weather is having ripple effects that could raise food prices in the U.S. and disrupt diets around the world.

Why it matters: Climate scientists and food supply experts, like those at the Food and Agriculture Organization (FAO) in Rome, have long warned about the impact of human-caused global warming on prices, food shortages and hunger.

EA Sports is in expansion mode

EA Sports general manager Daryl Holt (left). Photo illustration: Annelise Capossela/Axios. Photos: EA Sports

The biggest player in sports video games has plans to get even bigger — on mobile, in football, maybe even with basketball again — EA Sports general manager Daryl Holt said in an exclusive interview with Axios.

Why it matters: Sports gaming doesn’t get much press, but it’s a surging market with increased competition and lots of players up for grabs.