Drug Distributors To Pay Up To $1.1B To Settle New York Opioid Claims

  • McKesson Corporation MCKCardinal Health Inc CAH, and AmerisourceBergen Corp ABC have agreed to pay up to $1.179 billion to settle claims by New York state and two of its biggest counties over their role in the U.S. opioid epidemic.
  • The drug distributors settled as state attorneys general prepare to announce a $26 billion deal with the distributors and drugmaker Johnson & Johnson JNJ, resolving cases as soon as this week.
  • The CDC last week said provisional data showed that 2020 was a record year for drug overdose deaths with 93,331, up 29% from a year earlier. Opioids were involved in 74.7%, or 69,710, of those fatalities.
  • Price Action: MCK shares are up 6.5% at $200.53, and ABC shares are +6.1% at $119.45, and CAH stock is +6.4% at $59.62 in the market session on the last check Tuesday.
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Posted In: NewsHealth CareLegalGeneralBriefsHealth CareHealth Care DistributorsOpioids
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