4 US Companies to pay $26 billion in claims they fueled the opioid crisis

Keith Srakocic/AP

Four of the largest U.S. corporations have agreed to pay roughly $26 billion to settle a tsunami of lawsuits linked to claims that their business practices helped fuel the deadly opioid crisis.

Johnson & Johnson, the consumer products and health giant that manufactured generic opioid medications, will contribute $5 billion to the settlement…

Three massive drug wholesalers — AmerisourceBergen, Cardinal Health and McKesson — will pay a combined $21 billion.

North Carolina state Attorney General Josh Stein, who helped negotiate the deal…noted that most of the funds are earmarked for health care and drug treatment programs designed to ease the opioid crisis.

“There will be people alive next year because of the programs and services we will be able to fund because of these settlement proceeds,” he said.

None of the companies acknowledged any wrongdoing.

Of course not. That’s not the American Way of dealing with corporate guilt.

One thought on “4 US Companies to pay $26 billion in claims they fueled the opioid crisis

  1. Doc says:

    “Opioid Industry Archive releases 1.4 million documents from leading opioid maker implicated in drug crisis : The largest acquisition of litigation documents to date is made available free to public within the Opioid Industry Documents Archive, a collaborative effort by the Johns Hopkins and the University of California, San Francisco” https://hub.jhu.edu/2022/05/10/opioid-industry-archive-releases-documents-drug-crisis/
    “Inside the sales machine of the ‘kingpin’ of opioid makers : A cache of more than 1.4 million newly released records exposes the inner workings of the nation’s largest opioid manufacturer.” https://www.washingtonpost.com/investigations/interactive/2022/mallinckrodt-documents-doctors-sales/
    A lawyer for two Ohio counties said on Monday that CVS Health Corp (CVS.N), Walgreens Boots Alliance Inc (WBA.O) and Walmart Inc (WMT.N) should fund an $878 million plan to address the opioid crisis there, as a first-of-its-kind trial got underway to determine the pharmacy chains’ contribution.
    A federal jury decided in November that the companies created a public nuisance by flooding Ohio’s Lake and Trumbull counties with addictive prescription pain pills that wound up on the black market, in the first trial the pharmacy chains faced over the crisis. https://www.reuters.com/business/healthcare-pharmaceuticals/walgreens-cvs-walmart-begin-878-million-opioid-trial-ohio-2022-05-10/

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