Multiple drug companies settle opioid litigation in Ohio for $260m

Teva Pharmaceutical and three drug distributors, McKesson, Cardinal and AmerisourceBergen, have agreed to pay a total of $260m to settle opioid litigation in Cuyahoga and Summit counties of Ohio, US. The settlement was signed hours before the companies were set to face court trial. As part of the agreement, the drug distributors will pay $215m to resolve the first track of the multi-district litigation. In a joint statement, McKesson, Cardinal and AmerisourceBergen said: “While the companies strongly dispute the allegations made by the two counties, they believe settling the bellwether trial is an important stepping stone to achieving a global resolution and delivering meaningful relief. “The companies expect settlement funds to be used in support of initiatives to combat the opioid epidemic, including treatment, rehabilitation, mental health and other important efforts.” Meanwhile, Teva will make a $20m payment in cash over three years. The company will also provide $25m worth opioid treatment called Suboxone (buprenorphine naloxone) to help people with addiction. The agreement is expected to pave the way for a $48bn deal to settle approximately 2,600 opioid lawsuits pending across the country.