New Jersey’s J&J, Big 3 US drug distributors, reach $26bn opioid settlement deal

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New Jersey’s J&J, Big 3 US drug distributors, reach $26bn opioid settlement deal

On Wednesday, a perspicacious group of US state attorney generals had unfurled that the three largest US drug distributors alongside drugmaker Johnson & Johnson had agreed to a landmark $26 billion settlement deal which in effect would make them immune to charges on fuelling up a nationwide opioid epidemic that reportedly had been killing an American every fifteen minutes over past decades.

On top of that, according to the financial terms of the settlement deal, top three US drug distributors such as McKesson Corp., AmerisourceBergen Corp alongside Cardinal Health Inc had agreed to lay off a combined $21 billion, while J&J would pay off $5 billion.

Besides, the US drugmaker J&J would pay off the sum over nine years with at least a $3.7 billion would be paid over the first three years, while the distributors would have 18 years to pay the settlement money.

J&J, top 3 US drug distributors agree $26 billion opioid settlement

Meanwhile, adding that the latest settlement deal had been the second-largest cash settlement ever behind a $200 billion tobacco accord reached on 1990s, Connecticut Attorney General William Tong said in a statement followed by the announcement, “There's not enough money in the world frankly to address the pain and suffering.

The money will help where help is needed”. The ‘Big Three’ drug distributors had been accused of a sweeping lag in controls which in effect had channelled a large chunk of addictive opioid painkillers into the illicit paths, in due course devastating a number of communities with death tolls from opioid overdose rising as much as 30 per cent during pandemic restrictions last year, while the US drugmaker J&J was charged with playing down the risks of opioid addiction during marketing.