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US Opioid Lawsuits On Verge Of Settlements With 4 Companies
By: Geoff Mulvihill | AP
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WASHINGTON, D.C. (AP) — The yearslong effort by state and local governments in the U.S. to force the pharmaceutical industry to help pay to fix a nationwide opioid addiction and overdose crisis took a major step forward Tuesday when lawyers for local governments announced they were on the verge of a $26 billion settlement with… Read More
Opioid Negotiations Fail to Produce Deal Just Before Trial
By: Geoff Mulvihill | AP
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Negotiations aimed at reaching a major settlement in the nation’s opioid litigation reached an impasse Friday. Key differences were between state attorneys general and lawyers representing local governments, rather than with the drugmakers and distributors they are suing. One of the negotiators, North Carolina Attorney General Josh Stein, said late Friday that local governments did… Read More
Drug Distributor Shares Jump After Settlement Report
By: Geoff Mulvihill | AP
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Shares of big drug distributors are climbing after a report that they have made an offer to settle litigation over the opioid crisis. Two people with knowledge of the negotiations, which have been going on for months, confirmed to The Associated Press that McKesson Corp., AmerisourceBergen Corp., and Cardinal Health, Inc., have offered $18 billion… Read More
Study: Opioid Crisis Cost US Economy $631B Over 4 Years
By: Geoff Mulvihill | AP
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The opioid crisis cost the U.S. economy $631 billion from 2015 through last year — and it may keep getting more expensive, according to a study released Tuesday by the Society of Actuaries. The biggest driver of the cost over the four-year period is unrealized lifetime earnings of those who died from the drugs, followed… Read More
Judge Will Halt Lawsuits Against Purdue Pharma, Its Owners For 6 Months
By: Geoff Mulvihill | AP
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A judge will halt lawsuits against Purdue Pharma and its owners for six months in hopes of finalizing a settlement over the OxyContin maker’s role in the national opioid crisis, he said Friday. In a hearing, U.S. Bankruptcy Judge Robert Drain strongly brushed aside the argument from a group of state attorneys general that lawsuits… Read More
Purdue Pharma Asks Judge to Stop Lawsuits Against Sacklers
By: Geoff Mulvihill | AP
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OxyContin maker Purdue Pharma on Wednesday asked a bankruptcy court judge to halt all lawsuits against the company and its former directors, including members of the Sackler family, which owns the company. The request is a standard ask for a company that’s filed for bankruptcy , as Purdue did this week in an effort to settle some… Read More
Chaotic Talks Show Challenge of Reaching Opioid Settlement
By: Geoff Mulvihill | AP
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For months, the judge overseeing national litigation over the opioids crisis urged all sides to reach a settlement that could end thousands of lawsuits filed by state and local governments. But the chaotic developments this week in the case against OxyContin maker Purdue Pharma underscore how difficult that goal is. By Thursday, half of the… Read More