Johnson & Johnson and 3 distributors ready to settle opioid lawsuits for $26B: report: Fierce Pharma
Facing thousands of opioid lawsuits, Johnson & Johnson and major distributors are close to a $26 billion settlement to end the litigation, The Wall Street Journal reports. Lawyers for Johnson & Johnson, Cardinal Health, McKesson and AmerisourceBergen have been negotiating a potential settlement for years, and their deal could become public this week, the newspaper reports. Under the deal, J&J would pay $5 billion over nine years and the three distributors would pay a combined $21 billion over 18 years, the report says. In a recent SEC filing, J&J had already earmarked $5 billion for an "all-in settlement" that would resolve "opioid lawsuits and future claims by states, cities, counties and tribal governments." "There continues to be progress toward finalizing this agreement," J&J said in a statement Tuesday. "The settlement is not an admission of liability or wrongdoing and the company will continue to defend against any lit