States reach $26 billion deal with three wholesalers and J&J to end opioid lawsuits
Three of the largest pharmaceutical wholesalers and a major drug maker reached a $26 billion deal to settle lawsuits accusing the companies of fomenting the opioid crisis, which has claimed half a million lives over nearly two decades.
As part of the settlement, the wholesalers – McKesson (MCK), AmerisourceBergen (ABC) and Cardinal Health (CAH) – will pay up to $21 billion over the next 18 years, while Johnson & Johnson (JNJ) agreed to pay up to $5 billion over nine years and exit the opioid business. More than 40 states are expected to agree to the settlement, according to North Carolina Attorney General Josh Stein.
