IPFS News Link • Drugs and Medications
Johnson & Johnson finalizes $26billion opioid settlement...
• https://www.dailymail.co, RONNY REYESJohnson & Johnson and three major drug distributors finalized a $26 billion settlement over their role in the opioid addiction crisis Friday - the largest opioid-related settlement ever - which clears the way for funds to flow to nearly every state and local government in the U.S.
New Jersey-based Johnson & Johnson has 10 years to pay its $5 billion share.
The distributors - Conshohocken, Pennsylvania-based AmerisourceBergen; Columbus, Ohio-based Cardinal Health; and Irving, Texas-based McKesson - agreed to pay their combined $21 billion over 18 years. To reach the maximum amounts, states also have to get local governments to sign on to the deal.
About $2 billion is being set aside for fees and legal expenses for lawyers who have spent years working on the case.
They money is expected to provide a significant boost to efforts aimed at reversing the crisis in places that have been devastated by it. According to statistics released by the CDC earlier this month, nearly 104,000 Americans died of overdoses from Sept. 2020 to Sept. 2021, the highest number on record.
'We´re never going to have enough money to immediately cure this problem,' said Joe Rice, one of the lead lawyers who represented local governments in the litigation that led to the settlement. 'What we're trying to do is give a lot of small communities a chance to try to change some of their problems.'
2 Comments in Response to Johnson & Johnson finalizes $26billion opioid settlement...
that's states get mo-money. not the victims....
stage get mo-money the people effected squat!