McKesson, Cardinal Health, AmerisourceBergen Face $95B Opioid Trial In Washington: Reuters

A Washington state trial against McKesson Corporation MCK, Cardinal Health Inc CAH, and AmerisourceBergen Corp ABC for the U.S. opioid epidemic is slated to kick off today, Reuters reported.
Washington Attorney General Bob Ferguson declined to join a $26 billion nationwide settlement and has accused the drug distributors of creating a public nuisance by failing to prevent the diversion of prescription pills into illegal channels.
Washington seeks $38.2 billion to fund treatment and other programs and more in penalties and forfeited profits.
The distributors, who deny wrongdoing, say the state wants a "wildly inflated recovery" of more than $95 billion.
Washington state would have been eligible for $527.5 million if it had joined a proposed deal, under which the distributors would pay up to $21 billion, and Johnson & Johnson JNJ would pay $5 billion to resolve the cases.
Ferguson, a Democrat, has criticized the settlement as "not nearly good enough," saying the nearly $30 million on average the state and its communities would receive annually was insufficient to address the devastation caused by the epidemic.
The state became one of eight to not participate in the distributors' nationwide accord and opted to proceed to trial.
Related Link: Oklahoma Supreme Court Overturns Opioid Ruling Against Johnson & Johnson.
Price Action: MCK shares are down 0.92% at $222.76, CAH stock is down 1.17% at 50.84, and ABC shares are down 0.48% at $124.74 during the market session on the last check Monday.

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