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Attorneys General propose a $26 billion global opioid settlement with the 'big three' drug distributors

July 21, 2021. Summarized by summa-bot.

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A group of states' Attorneys General announced a proposed $26 billion opioid crisis settlement Wednesday that, if approved, will resolve claims against the "big three" drug distributors — McKesson, Cardinal Health and Amerisource Bergen Drug — as well as manufacturer Johnson & Johnson.

New York (CNN Business)A group of states' Attorneys General announced a proposed $26 billion opioid crisis settlement Wednesday that, if approved, will resolve claims against the "big three" drug distributors — McKesson, Cardinal Health and Amerisource Bergen Drug — as well as manufacturer Johnson & Johnson.

The proposed agreement, if approved by enough state and local governments, would resolve the claims of nearly 4,000 entities that have filed lawsuits in federal and state courts against the four companies, according to a press release from New York Attorney General Letitia James.

Johnson & Johnson released a statement saying it would contribute $5 billion to the settlement, depending on the number of state and local governments that decide to opt into the agreement.

"The numerous companies that manufactured and distributed opioids across the nation did so without regard to life or even the national crisis they were helping to fuel," said James, the New York attorney general.

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