The opioid crisis in the US is gaining momentum
2022.11.22 12:36
The opioid crisis in the US is gaining momentum
Budrigannews.com – With the finalization of agreements by Teva Pharmaceutical Industries (NYSE:), the extensive, five-year litigation pertaining to the opioid crisis in the United States appears to be entering its final phase.Ltd as well as AbbVie Inc.
CVS Health Corp. (NYSE:), which has tentative agreements,NASDAQ: Walgreens Boots AllianceWalmart and Inc. (NYSE:)Inc. to reach a settlement with tribal, state, and local governments.
Smaller drugstore chains like Rite Aid (NYSE:)Kroger and Corp. (NYSE:)Co, presently can’t seem to settle.
However, the agreement between the nation’s largest retail pharmacies builds on previous agreements with pharmaceutical manufacturers and the largest U.S. distributors.Major companies accused of contributing to the crisis, as well as settlements or judgments involving those companies, are listed below.All of them have denied the claims.
PHARMACY CHAINS CVS, Walmart, and Walgreens:
– Agreed in principle to pay a total of $13.8 billion to settle claims filed against them all over the country
– Ordered to pay a total of $650.6 million to two Ohio counties in August after a jury found that they were responsible for fostering opioid addiction in those counties.
-Achieved separate agreements with Florida, with CVS paying $484 million in March, Walgreens paying $683 million in May, and Walmart paying $215 million last month.The nationwide agreement that was made public this week also includes a portion of the settlement that Walgreens had with Florida.
-West Virginia settled with CVS, Walmart, and Walgreens for $82.5 million and $65 million, respectively.
-In July 2021, all three pharmacy chains and Rite Aid agreed to pay a total of $26 million to settle claims brought by the Suffolk and Nassau counties of New York.
Distributors of medicines Cardinal Health Inc. (NYSE:),NYSE: AmerisourceBergenMcKesson Corporation (NYSE:),the largest drug wholesalers in the country:
-Concluded in February on a proposed $21 billion nationwide settlement in July 2021.
-Achieved separate agreements with plaintiffs who declined to join the nationwide settlement. These agreements included deals worth $518 million for the state of Washington in May, $250 million for the state of Oklahoma in June, and $400 million for the cities and counties of West Virginia in August.
-In addition to a $75 million agreement with the Cherokee Nation in September 2021, reached a settlement in February with hundreds of Native American tribes for $440 million.
-Settled in 2019 for $215 million with two Ohio counties on the eve of trial.
-Won a non-jury trial in June against claims made by a West Virginia city and county seeking $2.5 billion.
-Agreed in May to a nationwide settlement worth $6 billion as part of its bankruptcy plan. The settlement was funded by the Sackler family owners, who will now be protected from any liability in the future.
A federal appeals court must reinstate the Sacklers’ legal shield, which a federal judge deemed illegal, before the deal can be concluded.
-signed a guilty plea to three charges of violating the Food, Drug, and Cosmetic Act, defrauding the United States, and a federal anti-kickback law in November 2020.
NYSE: Johnson & Johnson
-Concluded in February on a proposed $5 billion nationwide settlement in July 2021.
-Achieved separate settlements with holdout states, including $40.5 million in September for New Hampshire, $70.3 million in April for Alabama, and $99 million in April for West Virginia.
-In November 2021, the Oklahoma Supreme Court reversed a $465 million judgment that the state had obtained after a trial in 2019.
In November, Teva Pharmaceutical Industries Ltd. settled claims across the nation for $4.25 billion, some of which was to be paid as naloxone supplies.Previously announced agreements with West Virginia, Texas,
Florida, Rhode Island, Louisiana, and San Francisco are included in the deal.
– Has agreed to pay an additional $100 million to Native American tribes to settle their claims.
-Accused by a jury in New York of fostering opioid addiction in that state; the exact amount will be determined at a subsequent trial.
AbbVie Inc. settled claims against Allergan (NYSE:) with a $2.37 billion nationwide settlement in
November.a company that it bought in 2020.Previous agreements with states like New York are included in the deal.
Endo InternationalIn August, Plc filed for bankruptcy and reached a $450 million settlement with more than 30 states.
-Before bankruptcy, individual plaintiffs received settlements totaling $35 million in July 2021 for two
Tennessee counties, $50 million in September 2021 for New York and two of its counties, $63 million in December 2021 for Texas, and $65 million in January.
OTC:) MallinckrodtPlc reached a nationwide settlement worth $1.7 billion as part of its February-approved bankruptcy reorganization plan.
After a non-jury trial in November, a California judge rejected claims made by several large counties against J&J, Teva, Endo, and AbbVie.
