Posted by : ZeroRisk Cases Marketing

On February 25, generic opioid manufacturer Johnson and Johnson and three major pharmaceutical distributors finalized a $26 billion deal that will settle around 3000 lawsuits filed by state and local governments in the ongoing opioid litigation, some of which have been pending since 2014.  By accepting the terms of the settlement, the government entities have agreed to drop their pending litigation and have promised not to bring any additional lawsuits.

Johnson and Johnson, through its pharmaceutical division Janssen, has committed to pay $5 billion dollars over nine years. The three major distributors, McKesson, Cardinal Health and Amerisource Bergen, have committed to pay an additional $21 billion over 18 years.  In a press release issued on the 25th, the National Prescription Opiate Litigation Plaintiffs’ Executive Committee confirmed that 90% of the governments that had filed lawsuits had signed on to the deal and stated:

“The settlements require 85% of funds be allocated to programs that will help address the ongoing opioid crisis through treatment, education, and prevention efforts. A majority of states have already passed agreements that dictate how funds will be distributed between state and local subdivision governments, ensuring funds will effectively reach communities in the coming months.“ 

According to the statement, the funds will be distributed to each participating state based on its population,

;

The post $26B Opioid Settlement Reached Between J & J, three distributors and 90% of U.S. States and Local Governments appeared first on Verus LLC.