New York reaches $1.1 billion settlement with opioid distributors
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.
New York reaches $1.1 billion settlement with opioid distributors
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.