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View Full Version : 4 pharmaceutical companies in the opioid epidemic reach a $260 million settlement



Islander
10-22-19, 09:28 AM
Aaron Cooper, Kristina Sgueglia and Holly Yan (https://www.cnn.com/profiles/holly-yan)
Mon October 21, 2019

(CNN)Hours before the first federal trial in the opioid epidemic was set to begin, four pharmaceutical companies reached a settlement totaling $260 million.
The four companies -- McKesson Corp., Cardinal Health Inc., AmerisourceBergen Corp. and Teva Pharmaceutical Industries Ltd. -- reached a settlement Monday morning with the two plaintiffs, Summit and Cuyahoga counties in Ohio.
McKesson Corp., Cardinal Health Inc. and AmerisourceBergen Corp. will pay out a combined $215 million immediately, and Teva Pharmaceutical will pay $20 million, officials said at a press conference Monday.
Teva will also be donating $25 million worth of Suboxone (https://www.cnn.com/2015/06/19/health/suboxone/index.html), according a source familiar with the settlement.

Keep reading: https://www.cnn.com/2019/10/21/health/ohio-opioid-settlement-monday/index.html?utm_source=CNN+Five+Things&utm_campaign=d270bd2be2-EMAIL_CAMPAIGN_2019_10_22_03_03&utm_medium=email&utm_term=0_6da287d761-d270bd2be2-94005133

Mr. Wizard
10-25-19, 10:38 PM
The federal court encourages these type settlements to avoid lengthy, drawn out court trials. These 4 companies join several other opioid manufacturers that have settled out of court, including Johnson & Johnson, Mallinckrodt, Endo Int'l, and Allergan. When companies settle with local counties, like in this case, it ensures that the counties will have a better chance of actually receiving compensation. Under the huge tobacco companies settlement of 1998, most of the $246 Billion settlement went mostly to plaintiffs at the "state" level, leaving most local counties and cities without any compensation. **My larger concern is I have yet to read anything regarding compensation for individuals harmed by the opioid crisis. The plaintiffs state that settlement money will be used to recover monies spent for health care and crime-related costs stemming from opioid crisis, but nothing about compensating individuals.

Islander
10-26-19, 02:27 PM
No one in the Establishment cares about compensation for victims, as any glance at news stories about social justice will confirm. As long as the perpetrators are made to pay, the victims can go pound sand.

Mr. Wizard
10-26-19, 05:04 PM
I understand victims may have a better shot at compensation in a criminal case. So far, these are all civil cases. But, it's been alleged that the Sackler family, for example, could be held criminally liable for some of its actions. If that happens, victims can pile on and seek compensation under criminal penalty. Of course, proving criminality is not easy and would be extremely expensive, as the Sacklers would fight back with all their billions of dollars.