McKesson Corporation, Cardinal Health Inc., and AmerisourceBergen Drug Corporation will pay up to $1.1 billion to New York state to tackle the opioid epidemic, as announced by New York Attorney General Letitia James.
The agreement will eliminate the three opioid distributors from the ongoing opioid trial, which is advancing in Suffolk County State Supreme Court. It is one of the largest settlements handled by the attorney general, James. The companies will start making the payments in two months and will continue to settle the amount for the next 17 years.
James issued a press release stating that the opioid epidemic has affected several communities throughout New York and across the nation for more than two decades. It has affected a large number of families by killing hundreds of thousands of individuals and addicting millions more.
A base payment of $1.1 billion is guaranteed in the settlement, and further amounts may be levied in case of future litigation. A part of the settlement amount will be used to combat the effects of the opioid crisis. The settlement will even cover compensation for the private practice attorneys as a lawyer's fee.
Attorney general James said that no amount of money could compensate the families affected because of the crisis and people addicted to opioids. She even said that the settlement amount would play a vital role in tackling the opioid crisis of New York.
James even directed to change the ways of collecting and analyzing data in the opioid litigation.
U.S. District Judge Dan Aaron Polster is overlooking the National Prescription Opiate Litigation MDL No. 2804 (In Re: National Prescription Opiate Litigation), formed in October 2017.
