UPDATE 1-Drug distributors in talks to settle opioid litigation for $18 bln -WSJ [Reuters]
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Source: Reuters
Drug distributors in talks to settle opioid litigation for $18 billion - WSJ (Reuters) - Three drug distributors are in talks with state and local governments to settle opioid litigation for $18 billion, the Wall Street Journal reported on Tuesday, citing people familiar with the discussions. McKesson Corp, AmerisourceBergen Corp and Cardinal Health would collectively pay the amount over 18 years under the deal currently on the table, according to the Journal. Around 2,600 lawsuits by state and local governments are pending nationally, accusing drug manufacturers of deceptively marketing opioids in ways that downplayed their risks, and drug distributors of failing to detect and halt suspicious orders. The three companies, which together control about 85% of the U.S. prescription drug market, are among the six that are slated to be defendants in a landmark trial set to begin in federal court in Cleveland, Ohio, on Oct. 21, presided over by a federal judge who has long pushed for a glob
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