Oct 16, 2019

3 major drug distributors discussing $18 billion opioids settlement

Photo: Justin Sullivan/Getty Images

Three major drug distributors — McKesson, AmerisourceBergen and Cardinal Health — are discussing an $18 billion settlement to resolve opioid litigation brought by state and local governments, the Wall Street Journal reports.

The big picture: The distributors, along with drug manufacturers and pharmacies, have been accused of contributing to the country's opioid epidemic through aggressive marketing and inadequate distribution oversight.

  • Details: The deal being discussed would involve the 3 distributors paying $18 billion total over 18 years. Johnson & Johnson is also involved and discussing contributing additional money.

Go deeper: Purdue Pharma's bankruptcy test

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Major drug companies reach $260 million settlement in federal opioid trial

Photo by Justin Sullivan/Getty Images

Drug distributors McKesson Corp., Cardinal Health Inc., AmerisourceBergen Corp. and Teva Pharmaceutical Industries, an Israeli-based manufacturer of generic drugs, reached a $260 million settlement on Monday to avoid the first federal opioid trial that was set to begin in Cleveland, the Wall Street Journal reports.

Why it matters: People familiar with the discussions told the New York Times that a broader settlement to resolve thousands of cases brought by local governments and states could be announced later in the day.

Go deeperArrowOct 21, 2019

The opioids legal battles rage on

Illustration: Lazaro Gamio/Axios

The federal opioids litigation took a step closer to resolution yesterday when major drug companies settled with 2 Ohio counties just before a trial was scheduled to begin.

Yes, but: States, municipalities and the companies being sued are still hashing out a global resolution to the thousands of lawsuits pending across the country.

Go deeperArrowOct 22, 2019

Teva's stock shines after agreeing to opioid settlements

Data: Investing.com; Chart: Axios Visuals

Three of the four defendants agreeing to pay $260 million to settle opioid litigation with two Ohio counties have seen their stock prices plummet, as the settlement leaves 2,700 more local governments still suing over the distributors' roles in the addiction crisis.

Why it matters: The deal could serve as a template that would put the companies on the hook for $47 billion in damages to all 2,700 counties serving as plaintiffs in the lawsuits, depending on what happens in individual representative "bellwether trials" that will shape negotiations.

Go deeperArrowOct 22, 2019