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Opioid Drug Distributors Announce Proposed Settlement Agreement with States - Newtown Township To Vote on It

Opioid Drug Distributors Announce Proposed Settlement Agreement with States - Newtown Township To Vote on It | Newtown News of Interest | Scoop.it

AmerisourceBergen (NYSE: ABC), Cardinal Health (NYSE: CAH) and McKesson (NYSE: MCK) announced on July 21, 2021, that they have negotiated a comprehensive proposed settlement agreement which, if all conditions are satisfied, would result in the settlement of a substantial majority of opioid lawsuits filed by state and local governmental entities.

 

If the proposed settlement agreement and settlement process leads to final settlement ... it would collectively provide thousands of communities across the United States up to approximately $21 billion over 18 years. [Newtown Twp may receive $250,000.] 

 

Subject to certain future milestones described below and the level of participation, the companies would be responsible for up to the following contributions, payable over 18 years:

 

  • AmerisourceBergen: $6.4 billion
  • Cardinal Health: $6.4 billion
  • McKesson: $7.9 billion

 

Newtown Township Supervisors will vote on whether or not to agree to this settlement at it December 22, 2021, public meeting.

 

UPDATE: 

 

Bucks County will be receiving about $45 million under a global opioid settlement agreement reached with the “big three” opioid distributors and an opioid manufacturer.

 

The announcement was made by Bucks County solicitor Joe Kahn at the Feb. 16 commissioners meeting.

johnmacknewtown's insight:

Read “Big Question in Opioid Suits: How to Divide Any Settlement”: https://sco.lt/63SYIi  

 

I’m on record saying “If [Newtown] Township were to get some money out of this, small as it might be, it is my hope that the funds are used to support opioid anti-addiction programs and implement educational programs for the general public and students.” See the video here: http://bit.ly/OpioidSuitPost

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Newtown News of Interest
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