21 States Reject $18 Billion Bid to Settle Opioid Litigation [The Motley Fool]
McKesson Corporation (MCK)
Last mckesson corporation earnings: 2/4 07:00 am
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Source: The Motley Fool
21 States Reject $18 Billion Bid to Settle Opioid Litigation The three big drug distributors have been in talks for months in the hopes of finding a global settlement. Attorney generals in 21 states rejected an offer from three drug wholesalers for their roles in the opioid crisis in the U.S. According to a report from The Wall Street Journal , an $18 billion offer was not enough for a global solution, with some states were looking for a settlement as high as $32 billion. The three companies involved in the offer were McKesson ( NYSE:MCK ) , AmerisourceBergen ( NYSE:ABC ) , and Cardinal Health ( NYSE:CAH ) . They were reportedly in talks since October and were looking to make the $18 billion payment over a period of 18 years. The attorneys general sent back a rejection letter that acknowledged the drug companies' desire to "seek a settlement that is global" but claimed that the offer was "unlikely to achieve that goal." One of the companies in the discussions but not part of the
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MCK
News
- McKesson Co. (NYSE: MCK) had its price target raised by analysts at Morgan Stanley from $522.00 to $548.00. They now have an "overweight" rating on the stock.MarketBeat
- McKesson Co. (NYSE: MCK) had its price target raised by analysts at Argus from $510.00 to $570.00. They now have a "buy" rating on the stock.MarketBeat
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MCK
Earnings
- 2/7/24 - Beat
MCK
Sec Filings
- 3/18/24 - Form 4
- 3/15/24 - Form 144
- 3/5/24 - Form 4
- MCK's page on the SEC website